TUI GROUP - Solid 1Q17/18 results a preview for the rest of the year
Tui Group (‘Tui’), the world’s largest integrated tourism company, held a conference call today in which its robust 1Q7/18 results were as important as the outlook for the rest of the year.
The seasonally weak first quarter did not prevent Tui growing revenues by 9.1% at constant currency to €3,581m as the tour operating activity remained strong both in terms of volumes and pricing. On the other hand, the 35.1% improvement in EBITA to -€45.1m (excluding some one-offs) was mostly driven by improving KPIs (occupancy, pricing…) in holiday experiences (hotels, cruises…).
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