Tourism - Travel enthusiasm and higher prices bring Tui record sales
The return of the desire to travel after the corona pandemic has brought the world's largest travel group Tui back into the black in the past financial year. Shareholders received a surplus of 306 million euros in the twelve months to the end of September after a loss of 277 million a year earlier, as the company announced in Hanover on Wednesday.
Thanks in part to higher travel prices, turnover rose by a quarter to a record 20.7 billion euros, while operating profit adjusted for special items (adjusted EBIT) soared from 409 million to 977 million euros. In the new financial year to the end of September 2024, CEO Sebastian Ebel aims to increase sales by at least ten percent and adjusted operating profit by at least a quarter.
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TUI's record sales in the past financial year were largely attributable to the resurfacing of wanderlust following the Coronavirus pandemic. This was reflected in the company's quarterly figures, which showed a significant increase in revenue. The surplus of 306 million euros shared among shareholders was a stark contrast to the loss of 277 million euros in the previous financial year. TUI's largest travel group operations in Germany, specifically in Lower Saxony, significantly contributed to these record sales. In anticipation of the new financial year to September 2024, CEO Sebastian Ebel has set ambitious targets; aiming for at least a 10% increase in sales and a 25% rise in adjusted operating profit.
Source: www.stern.de
