TUI continues its strong earnings and revenue growth and reported a successful third quarter of financial year 2024: With 5.8 million guests in the reporting period, the tourism group achieved a record revenue of 5.8 billion euros. It was up 9 per cent on the previous year (Q3 2023: 5.3 billion euros).

Group reconfirms full-year guidance: revenue at least +10 per cent, underlying EBIT at least +25 per cent

Holiday Experiences: Strong performance in all segments – Hotels & Resorts, Cruises and TUI Musement: Underlying EBIT increased by 52 million euros to 242 million euros in Q3 2024

Markets & Airlines with TUI tour operators: Earnings underline resilient customer demand – underlying EBIT up 10 million euros year-on-year to 16 million euros

5.8 million guests traveled on vacation with TUI in the reporting period, +4 per cent more than in the previous year

Strong demand for Summer 2024: bookings +6 per cent and average prices +3 per cent, currently 88 per cent of the programme sold; bookings for Winter 24/25 also promising

Net debt reduced to 2.1 billion euros as of 30 June 2024

Refinancing completed: Successful placement of a convertible bond with a volume of 487 million euros, replacing 80 per cent of the existing convertible bond and representing the final step in refinancing the undrawn KfW credit line

Underlying Group EBIT rose significantly by 62 million euros to 232 million euros in the third quarter. TUI Group CEO Sebastian Ebel: "For the eighth consecutive time, we are reporting double-digit growth in underlying EBIT. In a market environment that remains challenging, this also demonstrates the strength and future viability of our business model. We are growing profitably and are delivering what we have announced. We are a tourism group with strong companies and brands in hotels and cruises. Our tour operators with their own travel agencies provide access to 19 million customers. By expanding our product portfolio, we are growing our customer base and want to open up new markets in Asia and America. TUI is expanding its global presence and is therefore less dependent on vacation periods in Northern, Western, and Central Europe. We are a developer, investor and operator in the destinations, which makes us very different from our competitors. The transformation is in full swing: We are expanding our product portfolio and pushing ahead with digitalisation. An important step in our transformation is the further strengthening of our capital structure. With the proceeds from the successful placement of a convertible bond with a total volume of 487 million euros, we have bought back 80 per cent of the existing convertible bond, thereby reducing TUI's interest costs and extending its maturity profile. Moreover, we are further reducing the undrawn KfW credit line. Overall, with this step we are reducing our annual interest costs by around 18 million euros."