- Tour operator TUI AG (OTC:TUIFF) reported a 58% year-on-year increase in Q1 revenue to €3.8 billion.
- The company had 3.3 million guests travelling with it in Q1, a 43.5% jump from last year.
- TUI’s underlying EBIT loss nearly halved to €(153) million from a loss of €(274) million last year.
- “Our strategy is clear: quality, cost discipline and market share. New products, additional customers, and as a result, more market share and above-average growth are the basis for future increases in revenue and earnings,” said CEO Sebastian Ebel.
- “Swift implementation of the strategy is having an effect, booking dynamics for Summer 2023 are encouraging. Both strengthen our expectations: underlying earnings to increase significantly in full year 2023.”
- The company said it had 8.7 million bookings for current Winter and Summer 2023, with the latest booking figures for the last four weeks above pre-crisis levels with higher average prices.
- In the previous financial year, the TUI Group began repaying the first financial aid granted by the state during the pandemic.
- TUI reached an agreement with the Economic Stabilization Fund (WSF) in December on the conditions for a full repayment of the remaining WSF aid.
- Photo Via Company
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NIO Inc - ADR (NYSE: NIO) shares are trading higher by 28.3% to $14.04 over the trailing five sessions.
