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SENSATION: Tui achieves record profits – travel fever explodes!
Tui recorded record sales of 6.2 billion euros in Q3 2023 and plans to increase its focus on long-distance travel for the winter.
SENSATION: Tui achieves record profits – travel fever explodes!
It's a SENSATION! TUI, the giant of the travel industry, has achieved results in the third financial quarter of 2023 that shock the industry! An incredible 6.2 billion euros in sales – an increase of over 7% compared to the previous year! hz.de reports that adjusted operating profit (EBIT) jumped by a shocking 38% to 321 million euros. It will leave you spitting away!
But that's not all! The surplus for shareholders literally exploded and rose to a whopping 183 million euros, after only 52 million in the same period last year. This is the best Q3 result since 2014 and shows that the travel bug is still gripping people and TUI is clearly ahead!
The driving forces behind success
The decisive factors behind this record result are, above all, the group's own hotels and cruises in the “holiday experiences” area. The brands Riu, TUI Blue and Robinson Clubs have reached record levels - a truly breathtaking sight! [tuigroup.com]. Cruise division, which includes TUI Cruises, Hapag-Lloyd Cruises and Marella Cruises, achieved record results and increased capacity by an incredible 33%! Who would have thought?
But while the profit screw keeps turning, there are also challenges! In summer business, TUI recorded around 2% fewer guests in the tour operator sector, and in Germany even a shocking 5% fewer. Still, average travel prices were 3% higher. It's no secret that people are being pickier about their bookings and paying more attention to weather and geopolitical developments.
A new era of travel?
At the same time, the group is taking bold steps to show that it is willing to adapt to the changes! TUI is offering discount vouchers to counteract the changes in booking behavior and encourage customers to book their trips in the later months. Heatwaves could soon boost travel enthusiasm and encourage more customers to plan their summer adventures in September or October!
In the third quarter, TUI counted a shocking 5.9 million guests - just under the 6.0 million in the same period in 2019. But the group is already planning to raise its profit forecast for the financial year that runs to the end of September. Really phenomenal!
The outlook into the future
The outlook for the 2025/26 winter season is positive, with slight increases in flight and hotel capacities, while TUI is increasingly focusing on long-distance travel. Sales on the TUI app have increased by a staggering 42% and the new TUI Tours platform allows customers to create customized multi-day trips. These innovative approaches could change the entire industry!
The only question that remains is: Can TUI still be stopped from this high? The next few months promise exciting developments – and we will be watching closely!