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TUI has delivered double-digit earnings growth for financial year 2018 – for the fourth consecutive year.
The group’s successful transformation as a developer, investor and operator of hotels and cruise ships is again paying off, argues the company releasing its annual results today.
In year to September 30th, TUI Group delivered turnover growth of 6.3 per cent to €19.7 billion euros on a constant currency basis.
Including foreign exchange translation effects, turnover also grew considerably by 5.3 per cent to €19.5 billion.
Underlying EBITA increased by 10.9 per cent to €1.2 billion on a constant currency basis.
The dividend proposal has been increased to 0.72 euros.
At the presentation of the results in London, TUI chief executive, Fritz Joussen, said: “We are investing, we are growing with TUI’s high-margin products and services and our businesses are increasingly scaling.
“Today, our own Holiday Experiences content account for more than 70 per cent of our earnings: hotels, cruises, excursions and destination activities.
“This enables us to clearly differentiate ourselves from the competition.
“With more than 20 million customers, use of state-of-the-art IT and intelligent customer systems, we have considerable potential for new business, turnover and earnings.
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TUI Group operates in around 180 destinations worldwide.
The company is domiciled in Germany. The TUI Group’s share is listed in the FTSE 100 index, the leading index of the London Stock Exchange, and in the German open market.
Source: breakingtravelnews.com
