Latest news with #SebastianEbel
Glasgow Times
2 days ago
- Business
- Glasgow Times
Tui cheers profit jump despite pressure from heat waves and Middle East conflict
Bosses at the firm stressed that the group has been boosted by its recent growth strategy. The German-based tour operator saw profits surpass expectations after positive trading from its cruises and experiences operations. The update came a day after the company upgraded its financial forecasts for the current year. Tui Group chief executive Sebastian Ebel said: 'The third quarter and the first nine months of the financial year 2025 were strong. Our strategy is paying off. 'We are benefiting from our integrated and diversified business model and managed to reduce the group's seasonality further. 'All this in a continuing challenging environment for our markets and airlines segment with economic difficulties in Europe, Europe-wide heat waves in the summer and the conflict in the Middle East.' The company said summer bookings in its markets and airlines business are down 2% year-on-year. Tui said this has been driven by a continued trend towards late bookings, citing 'the impact of the June and July heat waves in our source markets, as well as the Middle East conflict'. But it highlighted a 'positive start' to bookings for the winter season. It came as Tui cheered record underlying earnings for the quarter to June 30, rising to 321 million euros (£278 million) from 232 million euros (£201 million) a year earlier. This was supported by a 56.2% jump in earnings from its cruises business, which was buoyed by the launch of two new cruise ships and strong trading conditions. Meanwhile, earnings in its Tui Musement activities and experiences business were up 6.8% for the quarter. The company said total underlying earnings are now on track to grow by between 9% and 11% this year. It previously forecast growth of between 7% and 10%. Tui told shareholders that total group revenues increased by 7.1% to 6.2 billion euros (£5.4 billion) for the quarter, amid growth in both volumes and prices.
Leader Live
2 days ago
- Business
- Leader Live
Tui cheers profit jump despite pressure from heat waves and Middle East conflict
Bosses at the firm stressed that the group has been boosted by its recent growth strategy. The German-based tour operator saw profits surpass expectations after positive trading from its cruises and experiences operations. The update came a day after the company upgraded its financial forecasts for the current year. Tui Group chief executive Sebastian Ebel said: 'The third quarter and the first nine months of the financial year 2025 were strong. Our strategy is paying off. 'We are benefiting from our integrated and diversified business model and managed to reduce the group's seasonality further. 'All this in a continuing challenging environment for our markets and airlines segment with economic difficulties in Europe, Europe-wide heat waves in the summer and the conflict in the Middle East.' The company said summer bookings in its markets and airlines business are down 2% year-on-year. Tui said this has been driven by a continued trend towards late bookings, citing 'the impact of the June and July heat waves in our source markets, as well as the Middle East conflict'. But it highlighted a 'positive start' to bookings for the winter season. It came as Tui cheered record underlying earnings for the quarter to June 30, rising to 321 million euros (£278 million) from 232 million euros (£201 million) a year earlier. This was supported by a 56.2% jump in earnings from its cruises business, which was buoyed by the launch of two new cruise ships and strong trading conditions. Meanwhile, earnings in its Tui Musement activities and experiences business were up 6.8% for the quarter. The company said total underlying earnings are now on track to grow by between 9% and 11% this year. It previously forecast growth of between 7% and 10%. Tui told shareholders that total group revenues increased by 7.1% to 6.2 billion euros (£5.4 billion) for the quarter, amid growth in both volumes and prices.
Reuters
2 days ago
- Business
- Reuters
Tour operator TUI beats quarterly forecasts, boosts outlook
FRANKFURT/LONDON, Aug 13 (Reuters) - Europe's largest tour operator TUI ( opens new tab beat quarterly earnings and revenue forecasts on Wednesday as summer travel proved more resilient and investments and bookings ahead of the winter season allowed it to raise its full-year outlook. TUI raised its full-year profit guidance on Tuesday, after strong hotel and cruise demand boosted the business in the first nine months of its year ending September 30, sending shares up. Detailing its third-quarter results on Wednesday, TUI reported underlying earnings before interest and tax (EBIT) of 321 million euros ($375 million) in the quarter ended June 30, up 38% year-on-year and ahead of the 269 million euros expected by analysts polled by LSEG. Revenue across all segments rose 7% to 6.2 billion euros, slightly ahead of analysts' forecasts. The group's shares were up more than 2% in early trading. European airlines broadly performed well during the second quarter as a drop in travel demand proved less pronounced than feared and appeared to have had a limited impact on results. The core summer season travel used to drive a big part of airlines' revenue, but some of that demand is shifting as travellers look to escape heat and crowds and look for deals in spring and autumn. TUI Chief Executive Sebastian Ebel said bookings, particularly among British customers, remained robust. "The third quarter and the first nine months of the financial year 2025 were strong. Our strategy is paying off," Ebel said in a statement on Wednesday, highlighting its strategy to diversify its offering across Central Europe and Asia and to invest more in hotels and cruises. TUI is also confident about upcoming winter bookings as it sees a marked increase in interest in "shoulder season" travel, meaning holidays booked in late October, November and spilling into the Christmas season in December. To capitalise on the rise in demand for travel outside of the summer season, the company was investing in upgrades, such as heated pools in year-round destinations including Antalya, the Greek Islands and Algarve in Portugal, Ebel told journalists on Wednesday. The company acknowledged that the environment for its airlines business remained difficult, noting weaknesses, particularly among German consumers and in bookings for U.S. destinations. In the previous quarter, TUI had flagged a slight drop in summer bookings, amid concerns that inflation and economic worries could weaken travel demand. While there was a 2% decline in summer bookings tied to the Middle East conflict, ticket prices were up 3%, helping to balance out higher costs, according to a media presentation. European travellers, making up the core base of TUI's customers, tend to be more price-sensitive than North American travellers. German bookings fell 5% due to hot weather, Ebel told reporters, but said he expected more customers in the autumn. "There are people who really think, 'I'll stay in my garden, during the summer, and I'll go on vacation in October, November,'" Ebel said. ($1 = 0.8559 euros)
Newsweek
2 days ago
- Business
- Newsweek
Two Key Trump Factors Divert European Travelers Away From US: TUI
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Tensions between the Trump administration and Europe and a stricter entry regime for the U.S. were given as the two primary factors causing a significant decline in travelers from the continent through TUI, Europe's largest tour operator. This drop is illustrative of how negative perceptions of the Trump administration's actions and rhetoric can feed back as tangible consequences for the U.S., in this instance a negative effect on the country's tourism industry. Sebastian Ebel, CEO of TUI Group, said in a media call on Wednesday, August 13, to coincide with the company's quarterly results, that its customers are now looking to Canada, Africa, and Asia instead of the U.S. "The main reasons for it being the tensions we see, but also news about travel into the U.S. becoming more difficult," Ebel said in a subsequent comment sent to Newsweek. He noted that U.S. travel is "relatively small for TUI, therefore this does not have a big impact on us," and that whenever there are tensions in one destination, its customers can easily choose another instead, as seen here. The Trump administration has clashed with the European Union (EU) over trade, and a number of European states have issued updated travel advisories due to tighter entry requirements at the U.S. border. President Donald Trump has accused the EU of fomenting an imbalanced and unfair trading relationship with the U.S. to its advantage and imposed tariffs. The U.S. and EU have since agreed on a new trade deal. His administration is also tightening the border to stem the flow of illegal immigration, which Trump said was out of control. This is a developing article. Updates to follow.
Yahoo
2 days ago
- Business
- Yahoo
Tui cheers profit jump despite pressure from heat waves and Middle East conflict
Holiday giant Tui ( has revealed a jump in profits despite a 'challenging' backdrop linked to European heat waves and conflict in the Middle East. Bosses at the firm stressed that the group has been boosted by its recent growth strategy. The German-based tour operator saw profits surpass expectations after positive trading from its cruises and experiences operations. The update came a day after the company upgraded its financial forecasts for the current year. Tui Group chief executive Sebastian Ebel said: 'The third quarter and the first nine months of the financial year 2025 were strong. Our strategy is paying off. 'We are benefiting from our integrated and diversified business model and managed to reduce the group's seasonality further. 'All this in a continuing challenging environment for our markets and airlines segment with economic difficulties in Europe, Europe-wide heat waves in the summer and the conflict in the Middle East.' The company said summer bookings in its markets and airlines business are down 2% year-on-year. Tui said this has been driven by a continued trend towards late bookings, citing 'the impact of the June and July heat waves in our source markets, as well as the Middle East conflict'. But it highlighted a 'positive start' to bookings for the winter season. It came as Tui cheered record underlying earnings for the quarter to June 30, rising to 321 million euros (£278 million) from 232 million euros (£201 million) a year earlier. This was supported by a 56.2% jump in earnings from its cruises business, which was buoyed by the launch of two new cruise ships and strong trading conditions. Meanwhile, earnings in its Tui Musement activities and experiences business were up 6.8% for the quarter. The company said total underlying earnings are now on track to grow by between 9% and 11% this year. It previously forecast growth of between 7% and 10%. Tui told shareholders that total group revenues increased by 7.1% to 6.2 billion euros (£5.4 billion) for the quarter, amid growth in both volumes and prices.
