TUI AG : A positive surprise on forecasts/guidance, but we prefer to remain cautious pending greater visibility - Neutral maintained
>A poor Q1 performance penalised by the 737 Max, but the main story lies elsewhere - TUI’s Q1 publication was warmly welcomed by the market. Since Q1 is a relatively unrepresentative quarter due to the seasonal effect on business, the market naturally took no great account of the poor operational performance.A number of elements were positively received and explain the stock market performance. Amongst these are bookings for the summer season, which are up 14% in...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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