(CercleFinance.com) – TUI, the leading European tour operator, revealed prospects deemed promising on Wednesday after having produced annual results generally in line with expectations.
For its 2022/2023 financial year, ended September 30, TUI reported current operating income (Ebit) up 139% to 977 million euros.
The tour operator said its annual turnover had reached 20.67 billion euros, up from 16.55 billion euros.
For comparison, analysts on average expected a profit of 976 million euros for a turnover of 20.27 billion euros.
For its new financial year, the group says it is targeting growth in its turnover of at least 10% for a current operating profit (Ebit) expected to increase by more than 25%.
‘Recent activity is good, with no signs of demand slowing, and forecasts are above expectations for the 2023/2024 financial year despite the lack of visibility due to the mixed economic environment (especially in Germany and in the United Kingdom, its main markets), note Oddo BHF analysts, who have an ‘outperform’ opinion on the stock.
Another notable element, TUI said it was considering a withdrawal from the London Stock Exchange to concentrate on its listing in Germany, a project which will however need to obtain 75% of the votes of its shareholders at the next general meeting in February 2024 to be carried out. GOOD.
Around 9:30 a.m. (local time), TUI shares soared 9.8% in London while the index bringing together travel and air transport stocks in Europe gained around 1%.
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