TUI’s full-year revenue grew by 4.4% to €24.2bn, ignoring exchange rate impacts. Performance was helped by a 5.0% uplift in customer volumes
Underlying operating profit rose by 12.6% to a record €1.5bn. All divisions recorded double-digit growth except its Markets & Airline unit, which was negatively impacted by strong competition and significant investments.
Underlying free cash flow improved by €0.1bn to €0.5bn. Net debt fell from €1.6bn to €1.3bn, helped by the improved profitability.
In 2026, revenue is expected to grow by 2-4%, with underlying operating profit is expected to grow at a faster pace of 7-10%. The midpoint of both figures fell a touch short of market expectations.
TUI announced the return of dividends, with €0.10 per share declared in respect of 2025. Going forward, the group plans to pay out 10-20% of underlying earnings.
The shares fell 1.6% in early trading.
Our view
HL view to follow.
TUI key facts
All ratios are sourced from LSEG Datastream, based on previous day’s closing values. Please remember yields are variable and not a reliable indicator of future income. Keep in mind key figures shouldn’t be looked at on their own – it’s important to understand the big picture.
This article is original Hargreaves Lansdown content, published by Hargreaves Lansdown. It was correct as at the date of publication, and our views may have changed since then. Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by LSEG. These estimates are not a reliable indicator of future performance. Yields are variable and not guaranteed. Investments rise and fall in value so investors could make a loss.
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