TUI AG : Even more caution; Underperform rating, target adjusted to € 2.1 (vs € 2.5)
>Disappointing full-year results despite the recovery in Q4 - The revenue and EBIT figures reported by TUI for 2021 disappointed, with a miss of nearly € 1.5bn vs expectations on the top line and a group net loss of € 2.5bn. This is the second consecutive year of heavy losses, with a deficit of € 5.6bn in all between 2020 and 2021. Q4 was in fact fairly good, with revenues up sharply (and EBIT nearly at breakeven); while it was known that the summer season was good f...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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