TUI Group again ended the financial year 2024 with a significant increase in operating earnings. Thanks to robust customer demand, underlying EBITA increased by 33 per cent year-on-year to 1.3 billion euros. Revenue was up 12 per cent year-on-year to 23.2 billion euros (previous year 20.7 billion euros). All Group segments, in particular Hotels & Resorts as well as Cruises, contributed to this positive operational performance.
Sebastian Ebel, CEO of TUI: ‘We have delivered what we promised. 2024 was a very good year for us. Our focus on operational excellence, rapid implementation of the defined measures to improve earnings and transformation will continue to deliver significant growth. The TUI of tomorrow is well positioned. In the financial year 2024, we achieved important milestones: In the Holiday Experiences segment, we are growing with our asset-right strategy. We are future-proofing the tour operator business in the Markets + Airline segment and positioning it dynamically. Of course, we will continue to focus on package holidays and our good cooperation with travel agencies. In all our activities, customer satisfaction and quality are our top priorities. In what remains a challenging market environment, the entire TUI team has shown that we have the right strategy, the right business model and the right people, who work for our guests every day with commitment, creativity and passion. Our goal remains to become more profitable, more efficient and stronger in all segments with TUI – and to do so globally. One topic that plays an important role in all our activities is sustainability. As one of the world's leading travel groups, we want to set the standard for sustainability in the market. We are continuing initiatives across our business to deliver on our SBTi (Science Based Targets Initiative) 2030 targets.’
Mathias Kiep, Chief Financial Officer of TUI Group: ‘We look back on a successful financial year 2024, in which we also significantly improved our financial profile. The positive cash flow resulted in a significant reduction in net debt. With a leverage ratio of 0.8x, we remain on track to achieve our medium-term target of strongly below 1.0x. We also expect a positive development for the new financial year 2025[1]. Our guidance here include a year-on-year increase in revenue of 5-10 per cent and an increase in underlying EBIT of 7-10 per cent, particularly supported by the expectations for summer 2025."
*Continued strong demand for holidays: 20.3 million customers travelled with TUI in full year 2024 (previous year 19.0 million)
*Revenue in 2024 climbs by 12 per cent to 23.2 billion euros (previous year: 20.7 billion euros)
*Underlying EBIT improves significantly in line with our FY24 guidance to 1.3 billion euros (previous year: 977 million euros)
*Holiday Experiences segment, with Hotels & Resorts, Cruises and TUI Musement: underlying EBIT increases to 1.1 billion euros (previous year: 822 million euros)
*Hotels & Resorts as well as Cruises deliver record underlying EBIT: higher operational performance with increased rates compared to the previous year
*Markets + Airline segment underlines robust customer demand: underlying EBIT of 304 million euros (+28 per cent, previous year: 238 million euros) – transformation of tour operating business accelerated
*Net debt reduced by further 0.5 billion euros to 1.6 billion euros
*Winter 2024/25: current bookings +4 per cent up on prior year at +5 per cent higher average prices
*Guidance for the current full year 2025[1]: 5-10 per cent increase in revenue, 7-10 per cent increase in underlying EBIT
*Executive Board confirms medium-term targets: underlying EBIT expected to grow by 7 to 10 per cent; net leverage to improve to strongly below 1.0x
