TUI AG : Marked downward revision to group guidance - Neutral reiterated, target price adjusted to € 14.0
>Downward revision to guidance for 2019 EBITA at group level and target for average 2017-2020e growth of 10% abandoned - In a surprise press release, TUI has largely revised down its forecast for 2019 group EBITA growth at constant forex. Previously, it was expected that the group would confirm its target for average EBITA growth of 10% per annum out to 2020. This announcement is therefore calls into question the group’s previous long-term target. This throws a spoke ...TUI is engaged in the tourism business, operating in some 180 countries. Co.'s segments include Hotels & Resorts, Cruises and Other Tourism. The Hotels & Resorts segment comprises all Group-owned hotels and hotel companies in TUI Group. The segment comprises majority participations in hotels, joint ventures with local partners, stakes in companies. The Cruises segment consists of Hapag-Lloyd Cruises and the joint venture TUI Cruises. Other Tourism segment comprises central functions such as destination services, IT, aviation control and the French airline Corsair.
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