TUI reports strong results for the full year 2025, exceeds EBIT forecast and presents new dividend policy. Revenue rises to EUR 24.2 billion, underlying EBIT at constant exchange rates reaches record level of EUR 1.46 billion – clear growth targets for the new 2026 financial year
Travel continues to be in high demand: 34.7 million guests (+5 per cent) booked with TUI in the 2025 financial year
Revenue for the full year 2025 climbs by 4.4 percent to EUR 24.2 billion (previous year: EUR 23.2 billion)
Best underlying Group EBIT in the company's history: improvement of 12.6 percent to EUR 1.46 billion (previous year: EUR 1.29 billion)
Holiday Experiences segment with TUI Hotels & Resorts, Cruises and TUI Musement with record results: Underlying EBIT rises to EUR 1.31 billion (previous year: EUR 1.09 billion)
Net debt reduced by almost 20 percent to EUR 1.3 billion (previous year: EUR 1.6 billion)
Winter 2025/26: Booked revenues +1 percent compared to the previous year, positive start to bookings for summer 2026
Outlook for the current fiscal year 2026[1]: Revenue increase of 2-4 percent, underlying EBIT increase of 7-10 percent, medium-term forecast confirmed
Strong financial performance creates basis for new dividend policy: A starting dividend of €0.10 per share is proposed for fiscal year 2025 – from fiscal year 2026 onwards, a dividend of 10-20 percent of underlying EPS (earnings per share) is to be distributed.
(All figures – unless otherwise stated – at constant exchange rates)
Sebastian Ebel, CEO of TUI Group: "2025 was a successful year for TUI. In a highly competitive market environment, we achieved the best result in the company's history and exceeded the EBIT forecast for the full year 2025. The TUI ecosystem with strong proprietary brands such as RIU, Robinson, TUI Blue, and TUI Cruises, and growing global distribution through our well-known tour operators are our strengths.
We benefited from record results in the Holiday Experiences segment with our TUI hotel brands, the TUI cruise companies, and our experience provider TUI Musement. The Markets + Airline segment was characterised by investments in the global expansion of the curated marketplace and the associated transformation. This laid the foundation for future volume and earnings growth in this segment as well.
Our goal is clear: we want to grow globally with our own differentiated products and thus become independent of the challenging European market environment. All segments will become even more profitable and efficient in the future. Booking flights, transfers, hotels, cruises or excursions: only TUI offers a travel experience from a single source – this underlines our unique position in the global tourism market.
Artificial intelligence is a great opportunity for TUI. We are making our content AI-visible and AI-bookable – for example, through partnerships such as Mindtrip. Customers such as travel agencies can already use AI to plan complex round trips and transfer customers directly to a booking via a TUI button. At the same time, we are focusing on stationary travel sales. Travel agencies often book very high-quality trips for customers at a very early stage. Qualified advice and the experience of travel experts are valuable for guests and for us. We offer a travel experience that only TUI can provide.”
Mathias Kiep, Chief Financial Officer of TUI Group: “We also achieved important financial milestones in the 2025 financial year: we reduced net debt to EUR 1.3 billion, further improved our net debt ratio from 0.8x to 0.6x in the 2025 financial year, and the major rating agencies upgraded our credit rating. This solid financial basis enables us to move on to the next phase of our capital allocation. Now is the right time for a new, attractive, and sustainable dividend policy.”
Holidays were once again the top priority for consumers in the 2025 financial year (October 1, 2024 to September 30, 2025). A total of 34.7 million guests travelled with TUI. Underlying Group EBIT climbed to a record €1.46 billion in the full year 2025 (previous year: €1.29 billion). This is the best result in the Group's history. Revenue climbed by 4.4 percent to €24.2 billion (previous year: €23.2 billion).
The segment recorded revenue growth in the 2025 financial year. This was driven by higher prices with booking volumes in line with the previous year. Due to the competitive market environment and investments in transformation and growth, the segment's underlying EBIT was EUR 217 million (previous year: EUR 304 million).
Markets + Airline is undergoing transformation and investing in the expansion of its global, curated marketplace – more products with greater flexibility and combination options – in global IT systems and the expansion of new sales channels. These are the foundations for future growth. At the same time, TUI is adapting to changing customer behaviour. We are increasingly focusing on dynamically packaged products. This gives customers more choice and the high level of protection offered by a package tour. Dynamically created travel packages are successful: 3.3 million guests used a dynamic package last year (+11 percent). They now represent a significant share of TUI's total product portfolio. As in the previous year, capacity utilisation in the Markets + Airline segment remained at a high level of 91 percent for the full year.
In the Holiday Experiences segment, the positive booking trend continued in the first half of the 2026 financial year, benefiting from strong demand for our own differentiated products. In the Markets + Airline segment, the Group is demonstrating its resilience in a highly competitive market environment and has recorded a +1 percent increase in booked revenue for winter 2025/26. Initial indications for summer 2026 are positive.
In the travel distribution sector as a whole, package tours continue to be the gold standard, offering the highest level of security and service. The expansion of the dynamic offering provides more choice and flexibility with the service and security of a package tour, while at the same time opening up new customer groups and market opportunities for TUI. Customer satisfaction and quality are the top priorities.
TUI continues to focus on operational excellence and profitable growth. The outlook reflects the ongoing sustainable growth in the holiday experiences segment and the transformation of the Markets + Airline segment.
The hotel portfolio is also growing. With 463 hotels worldwide, TUI is a leading international group in the holiday hotel industry. A further 70 hotels have already been signed and are in the pipeline. Mein Schiff Flow, the next TUI Cruises cruise ship, will enter service in summer 2026.
On this basis, the Group expects the following for the 2026* financial year:
- a 2-4 percent increase in revenue compared to the previous year
- a 7-10 percent increase in underlying EBIT compared to the previous year, mainly due to expectations for summer 2026
In the medium term, TUI* expects:
- average growth in underlying EBIT of approximately 7-10 percent CAGR,
- a net debt ratio of less than 0.5x
- a dividend payout of 10-20 per cent of underlying earnings per share from fiscal year 2026 onwards
* Taking into account the current market environment and the prevailing macroeconomic and geopolitical uncertainties
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About TUI Group
The TUI Group is a leading global tourism group. The group is headquartered in Germany. TUI shares are listed on the MDAX index of the Frankfurt Stock Exchange and on the regulated market of the Lower Saxony Stock Exchange in Hanover. The TUI Group offers its more than 34.7 million customers integrated services from a single source and covers the entire tourism value chain under one roof. The Group owns more than 460 hotels and resorts with premium brands such as RIU, TUI Blue, and Robinson, as well as 18 cruise ships, ranging from the luxury class MS Europa and MS Europa 2 and the HANSEATIC class expedition ships to the Mein Schiff fleet of TUI Cruises and cruise ships at Marella Cruises in the UK. The group also includes leading European tour operator brands and online marketing platforms, for example for hotel-only or flight-only offers, five airlines with more than 130 modern medium- and long-haul aircraft, and around 1,200 travel agencies. In addition to expanding its core business with hotels and cruises through successful joint ventures and activities in holiday destinations, TUI is increasingly focusing on the expansion of digital platforms. The group is transforming itself into a global tourism platform company.
Global responsibility for sustainable economic, environmental, and social action is at the heart of our corporate culture. The TUI Care Foundation, initiated by TUI, focuses on the positive effects of tourism, education and training, and the strengthening of environmental and social standards with projects in 25 countries. In this way, it supports the development of holiday destinations. The globally active TUI Care Foundation initiates projects that create new opportunities for the next generation.
