TUI AG : A step further along the road to recovery but there are still uncertainties. Underperform; target price raised to € 1.8
>Q1 confirms the upturn in business - TUI posted a pretty good set of quarterly figures, slightly beating expectations for both the top line and adjusted EBIT. The quarterly loss was largely halved at the EBIT level (coming close to that of Q1 2020) thanks to strong quarterly revenue growth of ~60% y-o-y, on a par with Q1 2020 (pre-Covid level). All segments saw a strong recovery, and we particularly note the upturn in the Northern region within the markets & airlines...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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.