HANOVER (dpa-AFX) - TUI Group (TUIFF.PK), a German leisure, travel, and tourism company, on Tuesday reported a narrower loss for the first-quarter, amidst an increase in revenue on higher demand at improved prices and rates. In addition, the company has reaffirmed its full-year guidance.
For the first-quarter, the Group reported a net loss of 83.5 million euros 0.24 euro per share, compared with a loss of 231.8 million euros or 0.89 euro per share, reported for the same period last year.
Pre-tax loss was at 103.1 million euros versus a loss of 272.6 million euros in the previous year.
EBIT was at 0.2 million euros as against a loss of 185.7 million euros a year ago.
EBITDA surged to 208 million euros from 58 million euros in 2022.
Underlying EBITDA stood at 208.5 million euros, higher than last year's 58.3 million euros.
Revenue improved to 4.302 billion euros from 3.750 billion euros a year ago.
Looking ahead, for the full year, the Group still expects an increase in underlying EBIT by at least 25 percent, on a revenue growth of at least 10 percent.
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