TUI Group underlying EBITA improved 7.2 percentStaff writer ▼ |
TUI Group The seasonal loss was 97.3 million euros
TUI Group reported that the first quarter loss, which is always generated in any financial year due to the seasonal swing in tourism, improved versus financial year 2014/2015.
Including the impact of foreign exchange translation effects, it rose by 3 percent to -101.7 million euros. Moreover, the result posted for the first quarter of 2014/15 had included a gain on disposal worth 16 million euros.
TUI Group turnover climbed by 5.4 percent to 3.72 billion euros (previous year 3.53 billion euros) within the same period.
In Q1 2015/16, Hotels & Resorts recorded underlying EBITA of 25 million euros (previous year 29 million euros, including the gain on disposal from the sale of a hotel), i.e. a very strong performance. On a constant currency basis, the operating result totalled 23 million euros.
TUI Group’s Cruise activities generated a positive operating result in the first quarter. Underlying EBITA amounted to 8 million euros (previous year 2 million euros). TUI Cruises achieved an improvement in its operating performance due to the successful expansion of its fleet following the launch of Mein Schiff 4 in June 2015. ■
What to read next