A Sunny Winter. TUI Group Quarterly Comment
​Tui Group, ‘Tui’, the world’s largest integrated tourism company, held a conference call today to present an excellent set of 1Q16/17 results. In a seasonally weak quarter, revenues at constant currency posted a strong 8.5% growth to €3.3bn well above the +3% guidance for the full year. Performance on the underlying EBITA front followed revenue development with an improvement to -€67m from -€80m at the same period last year. Hotels and Cruises divisions deserve a mention, contributing through both occupancy and price increases, offsetting a mixed performance on source markets. On the cash flow side, the...
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