- TUI Travel pursues active capacity management to reflect lower volumes due to economic conditions.
- TUI Hotels & Resorts holds its own well faced with declining demand.
- Cruises successfully establishes new TUI Cruises brand in the market with Mein Schiff.
TUI Group in Figures
| € million | Q1 2009/10 | Q1 2008/09 | Var. % | |
| Continuing Operations | ||||
| Turnover | 2,948.1 | 3,470.6 | - 15.1 | |
| EBITDAR | 71.2 | 184.6 | - 61.4 | |
| EBITDA | - 79.7 | 35.3 | n/a | |
| TUI Travel | - 92.1 | 32.0 | n/a | |
| TUI Hotels & Resorts | 22.4 | 37.6 | - 40.4 | |
| Cruises | - 4.2 | - 1.9 | - 121.1 | |
| Underlying EBITDA | - 44.0 | 40.0 | n/a | |
| TUI Travel | - 56.4 | 34.7 | n/a | |
| TUI Hotels & Resorts | 22.4 | 41.4 | - 45.9 | |
| Cruises | - 4.2 | - 1.9 | - 121.1 | |
| EBITA | - 173.8 | - 103.1 | - 68.6 | |
| TUI Travel | - 163.6 | - 69.0 | - 137.1 | |
| TUI Hotels & Resorts | 5.0 | 23.3 | - 78.5 | |
| Cruises | - 6.3 | - 4.4 | - 43.2 | |
| Underlying EBITA | - 137.7 | - 98.4 | - 39.9 | |
| TUI Travel | - 127.5 | - 66.3 | - 92.3 | |
| TUI Hotels & Resorts | 5.0 | 27.1 | - 81.5 | |
| Cruises | - 6.3 | - 4.4 | - 43.2 | |
| Discontinued Operations | ||||
| Earnings Discontinued Operations | - 10.6 | - 7.8 | - 35.9 | |
| EBITA | - 10.9 | - 37.7 | + 71.1 | |
| Underlying EBITA | - 10.9 | - 21.4 | + 49.1 | |
| Group | ||||
| EBITA | - 184.7 | - 140.8 | - 31.2 | |
| Underlying EBITA | - 148.6 | - 119.8 | - 24.0 | |
| Goup profit/loss | - 164.8 | - 186.8 | + 11.8 | |
| Basic earnings per share | in € | - 0.43 | - 0.64 | + 32.8 |
| Capital expenditure | 94.1 | 142.3 | - 33.9 | |
| Equity ratio (31 December) | in % | 17.7 | 13.4 | + 4.31) |
| Employees (31 December) | 60,033 | 70,254 | - 14.5 |
1) percentage points
General Economic Situation
While the global economy remained in recession in the first half of calendar year 2009, it began to pick up again in the subsequent quarter. This upward momentum continued in the fourth quarter of calendar year 2009. However, the recovery was uneven. Although the emerging markets recorded a strong expansion of their economies, in some cases driven by domestic demand, economic recovery in the industrialised countries only slowly gained momentum. Assets in the industrialised countries contracted in the wake of the financial crisis, curbing economic development. The United States, United Kingdom and Spain were impacted by the development of the real estate markets, export-driven economies such as Germany and Japan had to adjust to lower levels of foreign demand. Moreover, the financial sector continued to undergo a period of consolidation, which tends to result in restrictive lending.