Tourism | TUI boasts outstanding year with "numerous landmarks" in 2024

TUI Group recorded excellent performance in the financial year 2024 (1 October 2023 to September 30, 2024).

In summary:

Strong demand for vacation continued, as TUI served 20.3 million customers in 2024 from 19 million in 2023.
Revenue in 2024 increased by 12 percent to EUR 23.2 billion (previous year: 20.7 billion euros)
Interest and Tax Profits (EBIT) improved by 33% in the financial year 2024, reaching 1.3 billion euros (previous year: 977 million euros)
Sales increased from € 20.7 billion to EUR 23.2 billion (plus 12%). The "hotels & resorts" and "cruises" sectors were again.
Commenting on the results Tui's CEO, Sebastian Ebel, said:

"We have achieved what we promised. 2024 was an outstanding year for us. Our focus on functional excellence and the rapid implementation of the specified measures to improve profits and transformation will continue to provide significant growth. Tui of tomorrow is in a good position. During the financial year 2024, we achieved significant milestones. "

Ebel made a special mention of the development of the Holiday Experiences sector and the Markets + Airline section, stressing, however, that the TUI Group will continue to focus on holiday packages and good cooperation with travel agencies.

"In all our activities," he said, "customer satisfaction and quality are our top priorities."

TUI's chief executive emphasized that the Group "has shown that it has the right strategy, the right business model, and the right people who work for its visitors daily with dedication, creativity, and passion" in a difficult market environment.

Elsewhere in his statement, Sebastian Ebel said:

"Our goal remains to become more profitable, more effective,e and stronger in all areas with Tui - and to do so worldwide. A topic that plays an important role in all our activities is sustainability. As one of the top travel groups In the world, we want to set the standards of viability in the market.

Net debt is reduced

For his part, Chief Financial Officer Tui Mathias Kiep stressed that it is particularly positive that the "positive cash flow" has led to a "significant reduction" of net debt. The target for 2025 is to increase sales by five to ten percent and to increase customized EBIT by seven to ten percent, he said. KIEP is based on the good start of sales for the summer of 2025.

+7% bookings for 2025

Europe's largest travel company described the start of the next year's peak season as "promising in a higher cost environment", with bookings rising by 7% and average sales prices being 3% higher. To date, 17% of the 2025 season has been sold. In the United Kingdom reservations so far have been reduced by 3%, but it has been a "strong dynamic" in the last four weeks.

Strong demand for Greece

Demand for short and medium-sized destinations continues to increase bookings for the following summer, with Greece, Turkey, and Balearis "proving ​​once again the most popular".

Reservations for the winter season 2024-2025 increased by 4% and "continue to be strong" with 62% of the program being sold at average prices in all markets by 5%.

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