TUI Affirms 2018 Guidance As First-Quarter Loss Narrows

TUI Affirms 2018 Guidance As First-Quarter Loss Narrows

Overall bookings for summer 2018 among United Kingdom customers are broadly in line with the prior year, down 1% with average selling prices up 3%.

Revenues from cruises grew 27pc to €192m (£170m) in the three months to December, helping push the group's total turnover up 8.1pc to €3.5bn.

Anglo-German tour operator TUI AG said Tuesday its group loss for the first quarter attributable to shareholders was EUR99.6 million, narrower than loss of EUR117.5 million in the year-ago period.

TUI, based in Hanover but listed on the London stock exchange, reported a net loss of 58.7 million euros ($72.3 million) between October and December, an improvement of nearly 35 percent year-on-year.

"Our strategy is successful".

Its operating, or underlying result was 24.9 million euros into the red, less than half the size of the loss booked a year before as strong performance in hotels and cruises paid off. TUI's revenue increased 8.1 percent year-on-year, to 3.


As a whole, underlying earnings for its holidays and resorts business almost doubled, rising 91.9% to 94.4 million euros (£83.9 million) in the first quarter to December 31, compared with 49.2 million euros (£43.7 million) a year earlier. While we used to be a trading company, we have now become developers, investors, and operators.

"Following three consecutive years of double-digit earnings growth, we are aiming to deliver similarly strong growth in 2018".

Tui, the travel company which used to operate under the Thomson brand in the United Kingdom, has had a sunny start to the year according to a trading update released this morning. "We are planning to expand TUI Destination Services as a business segment", said.

The business pools all services including transfers, activities and excursions during customer holidays.

TUI (TUI) is making strong strategic progress after cutting its seasonal losses in its first quarter to 31 December 2017, driven by growth in its hotels and resorts. Our customers know us, and they trust the TUI brand.

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