TUI group's EBITA improved by 29.1 percent y-o-y
The strategic focus on exclusive products caused a slight decline in turnover (-4.1 percent) to 6.6 billion euros (previous year 6.8 billion euros). At the same time, however, the group’s operating result (EBITA) improved by 29.1 percent year-on-year in the period under review to -339.4 million euros (previous year -479 million euros).
Despite the impact of low demand for Egypt, underlying EBITA was only 2.1 percent down on the prior year at -345.7 million euros (previous year -338.7 million euros). Excluding the timing effect of Easter – with the key Easter trading period falling in April and hence the subsequent quarter this year – the group’s underlying operating result improved by 21 million year-on-year, up by 6 percent.
The measures defined by the oneTUI programme are taking effect, as can be seen in the Hotels & Resorts Sector: With a return on invested capital (ROIC) of 12 percent, the RIU Group already exceeded the target of 11 percent in the past. In the full year it is expected to increase again slightly. In the past, Robinson Clubs fell significantly short of the target at around 6 percent.
The TUI group board had announced a review of the Robinson portfolio and called for measures to improve profitability of the subsidiary. The return indicator is expected to increase to more than 9 percent in the full year. ■