TUI’s first-quarter revenue rose 1% to €4.9bn (€4.9bn expected), ignoring exchange rate impacts. All business segments contributed positively except Markets and Airlines (M+A), which were flat as higher prices offset a small drop in volumes.
Underlying operating profit rose 51% to €77.1bn (€63.0bn expected). Performance was driven by a 71% uplift in profitability in its Cruises segment to record levels, helped by its fleet expansion and higher occupancy rates.
Net debt improved by €0.5bn on the prior year to €3.6bn.
Full-year guidance has been maintained, with revenue and underlying operating profits expected to grow by 2-4% and 7-10% respectively.
The 2025 dividend of €0.10 per share was reiterated.
The shares were broadly flat 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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