Travel giant TUI said annual operating profit jumped by more than a third and said it expected more growth next year driven by expanded capacity in its holiday business to meet demand.
Underlying earnings before interest and tax (EBIT) for the 12 months to September 30 rose 33 percent to €1.3bn, while the holiday division saw earnings rise to €1.1bn from €822m on the same basis. Revenue rose 12% to €23bn.
TUI expects 2025 EBIT to increase by 7 – 10% driven by high summer demand and revenue by 5 – 10%.
“Our focus on operational excellence, rapid implementation of the defined measures to improve earnings and transformation will continue to deliver significant growth. The TUI of tomorrow is well positioned,” said TUI chief executive Sebastian Ebel.
“This is against the background of a higher inflationary environment and our expectation that the first half of the year will be impacted by a higher seasonality for investment ahead of the summer and the shift of Easter holidays…