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Tui smashes earnings expectations

Shares of Tui AG (LSE: TUI) rose 3% on Tuesday after the travel company reported record first quarter revenue of €4.30 billion, representing 15% year-over-year growth compared to €3.75 billion in the prior year period. …

Shares of Tui AG (LSE: TUI) rose 3% on Tuesday after the travel company reported record first quarter revenue of €4.30 billion, representing 15% year-over-year growth compared to €3.75 billion in the prior year period.

Tui’s pretax loss narrowed to €103.1 million, versus €272.6 million a year before. Underlying earnings before interest and tax swung to a profit of €6.0 million, compared to a €153.0 million Ebit loss in the first quarter last year.

The travel giant reaffirmed its 2024 guidance of increasing underlying Ebit by at least 25% compared to €977 million in financial 2023. The company also expects revenue growth of at least 10% this year from €20.67 billion last year.

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Tui is holding its annual general meeting today, where shareholders are expected to approve delisting from the London Stock Exchange while upgrading to a Frankfurt listing.

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