HANOVER (dpa-AFX) - TUI AG (TUIFF.PK), a German leisure and travel company, reported Wednesday wider net loss in its second quarter, despite growth in revenues. Further, the firm maintained its outlook for fiscal 2025 and mid-term.
For fiscal 2025, the company continues to expect to increase underlying EBIT by 7 percent to 10 percent from 1.296 billion euros last year. The outlook reflects expectations for Summer 2025 with a 32 million euros phasing effect from Easter holidays shifting to the third quarter.
Revenue is expected to increase by 5 percent to 10 percent from last year's 23.17 billion euros.
The company said, 'Whilst we remain mindful of the current macroeconomic and geopolitical uncertainties, our guidance is based on delivering further sustainable growth in Holiday Experiences and transforming the Markets + Airline business and is supported by the strong performance in H1.'
Over the mid-term, the company continues to expect to generate underlying EBIT growth of around 7 percent to 10 percent CAGR.
In the second quarter, Group loss attributable to shareholders was 306.1 million euros, wider than prior year's loss of 294.2 million euros. Loss per share was 0.60 euro, compared to loss of 0.58 euro a year ago.
Reported EBIT was negative 217 million euros, compared to prior year's negative 195 million euros. Underlying EBIT loss widened to 206.8 million euros from loss of 188.7 million euros in the previous year.
Revenue for the period grew 1.5 percent to 3.705 billion euros from 3.650 billion euros a year ago. Revenue at constant currency edged up 0.9 percent.
Revenue was supported by continuing strong Travel & Tourism market fundamentals and robust consumer demand as we continue to transform the business and deliver sustainable growth.
In line with the later Easter holidays, customer volumes of 2.6 million were as anticipated, down 5 percent. Average load factor was down 3 percentage points at 90 percent.
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