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TUI (TUI1) investor relations material
TUI Q4 2025 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Trading remains on a positive trajectory, driven by an asset-right growth strategy and steady demand across key segments.
On track to deliver raised FY25 underlying EBIT growth of +9-11% at constant currency, reaffirmed after strong summer trading and resilient winter demand.
Bookings for Summer 2025 are holding up despite a competitive market and external challenges, with Winter 2025/26 showing a positive start.
Positive start to Winter 2025/26, with robust consumer spend on leisure experiences despite economic and geopolitical uncertainties.
Strategic alliance signed with Oman's OMRAN Group for five new hotels and OMRAN becoming a 1.4% shareholder.
Financial highlights
Hotels & Resorts: Available bed nights up 1% YoY in Q4 FY25 and 5% YoY in H1 FY26; average daily rate up 7% in Q4 FY25 and 6% in H1 FY26.
Cruises: Available passenger cruise days up 14% YoY in Q4 FY25 and 13% in H1 FY26; occupancy up 1 percentage point in Q4 FY25 and 7 percentage points in H1 FY26.
FY25 revenue expected to increase at the lower end of +5-10% (FY24: €23,167m).
Underlying EBIT to grow by +9-11% (FY24: €1,296m), raised from prior +7-10% guidance.
Net debt projected to improve slightly from FY24 (€1,641m).
Outlook and guidance
Early indicators for Winter 2025/26 are promising, supported by resilient consumer spending.
ASP (average selling price) increases are helping to offset a higher cost environment.
Mid-term ambition for underlying EBIT growth of approximately +7-10% CAGR.
Targeting net leverage strongly below 1.0x.
Full-year FY25 results to be released on 10 December 2025.
Next TUI earnings date

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Frequently asked questions
Tailor-Made Journeys
TUI AG is a leading international tourism company that specializes in providing tour operator, travel agency, and leisure cruise services. The company offers a wide range of travel options, including package holidays, flights, hotels, and cruises, catering to various customer preferences and budgets. TUI's menu of travel experiences encompasses popular destinations worldwide, providing customers with diverse choices for their dream vacations.
Tourism, Hotels & Resorts, and Cruises
TUI operates through three main business segments: Tourism, Hotels & Resorts, and Cruises. The Tourism segment includes tour operator and travel agency services, offering package holidays and individual travel arrangements to customers. The Hotels & Resorts segment comprises the company's hotel operations, which encompass a broad portfolio of owned, managed, and franchised hotels across different destinations. The Cruises segment focuses on providing cruise holidays through its fleet of ships, offering passengers unforgettable experiences at sea.
The company's business model revolves around capturing value throughout the entire customer journey, from planning and booking to the actual travel experience. TUI earns revenue by selling holiday packages, flight tickets, hotel accommodations, cruise bookings, and additional services such as travel insurance and excursions. By operating across multiple segments, TUI aims to cater to various customer segments and leverage its extensive network and industry expertise to provide comprehensive travel solutions.
A 100-year-old company operating in over 100 countries
TUI is a global company with a significant presence in the tourism industry. It operates in over 100 countries and serves millions of customers annually. The company traces its roots back to the 1920s, but its current form emerged through a series of mergers and acquisitions. TUI was formed through the merger of the German company Preussag AG and the British travel group Thomson Travel in 2002, followed by subsequent acquisitions and rebranding efforts.
As for its peers, three notable listed companies operating in the tourism industry are: Expedia Group, Booking Holdings, and Carnival Corporation.
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