Full-year adjusted operating profit is expected to land between €1.2-1.3bn, ignoring exchange rates. Revenue guidance remains suspended.
Late summer demand improved, but Markets + Airline booked revenue remained 5% behind last year, in line with a 5% reduction in TUI’s own-risk capacity.
Hotels and cruises performed better. Hotel rates rose 4%, while cruise capacity increased 12% and rates were 2% higher.
Winter trading in Markets + Airline has started slowly, with booked revenue down 7%. That includes declines of 9% in the UK and 4% in Germany, although recent booking momentum has improved.
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.
This article is not advice or a recommendation to buy, sell or hold any investment. No view is given on the present or future value or price of any investment, and investors should form their own view on any proposed investment.