HANOVER (dpa-AFX) - TUI AG (TUIFF.PK), a German leisure and travel company, reported Wednesday significantly higher profit in its third quarter as revenues were benfited by increased volumes and higher prices. Further, the company raised fiscal 2025 underlying EBIT outlook, while revenues are now expected at the lower end of target range.
Looking ahead for the fourth quarter, the company said its trading momentum is set to deliver further growth, underpinned by vertical integration, strong demand and higher rates.
For fiscal 2025, TUI now expects underlying EBIT to increase by 9 percent to 11 percent at constant currency from last year's 1.30 billion euros. The previous outlook was a growth of 7 percent to 10 percent.
Meanwhile, revenue for the year is now expected to increase at the lower end of the given growth range of 5 percent to 10 percent at constant currency from prior year's 23.17 billion euros.
The company further maintained the mid-term ambitions, at constant currency, to generate underlying EBIT growth of around 7 percent to 10 percent CAGR.
In the third quarter, Group results attributable to shareholders surged to 183.1 million euros from last year's 52.4 million euros. Earnings per share grew 260 percent to 0.36 euro from 0.10 euro a year ago.
Underlying EBIT was 320.6 million euros, up 38.3 percent from 231.9 million euros last year.
Underlying EBITDA increased 22 percent to 544.9 million euros from prior year's 446.8 million euros.
In the quarter, revenues grew 7.1 percent to 6.20 billion euros from 5.79 billion euros a year ago. The results reflected growth across the segments, driven by increased volumes and higher prices as well as rates, reflecting robust demand for diverse and comprehensive product portfolio.
The company noted that a total of 5.9 million customers chose to travel with the firm in the third quarter, an increase of 2 percent. Average load factor remained high across markets at 94 percent overall, in line with the previous year.
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