- Sale of majority stake in container shipping successfully closed;
book profit of around € 1 bn realised within the Group. - Good pricing and load factors thanks to active capacity management in TUI Travel's volume business.
- Later Easter causes weaker first quarter in tourism year-on-year.
- Economic development felt in container shipping.
TUI Group in figures
| € million | Q1 2009 | Q1 2008 | Var. % | |
|---|---|---|---|---|
| Continuing operations | ||||
| Turnover | 3,082.9 | 3,630.8 | - 15.1 | |
| EBITDAR | - 91.8 | 9.6 | n/a | |
| EBITDA | - 300.8 | - 165.3 | - 82.0 | |
| EBITA | - 399.3 | - 299.1 | - 33.5 | |
| of which tourism | - 351.2 | - 306.0 | - 14.8 | |
| of which central operations | - 48.1 | 6.9 | n/a | |
| Underlying EBITA | - 324.2 | - 213.7 | - 51.7 | |
| of which tourism | - 276.1 | - 220.6 | - 25.2 | |
| of which central operations | - 48.1 | 6.9 | n/a | |
| Discontinued operation container shipping | ||||
| EAT | 791.6 | - 11.5 | n/a | |
| EBITA | 748.8 | 1.1 | n/a | |
| Underlying EBITA | - 221.7 | 18.5 | n/a | |
| Group | ||||
| EBITA | 349.5 | - 298.0 | n/a | |
| Underlying EBITA | - 545.9 | - 195.2 | - 179.7 | |
| Group profit/loss | 414.5 | - 278.8 | n/a | |
| Basic earnings per share | in € | + 2.18 | - 0.69 | n/a |
| Capital expenditure | 139.0 | 245.5 | - 43.4 | |
| Equity ratio (31 March) | in % | 16.9 | 16.5 | + 0.4*) |
| Employees (31 March) | 70,989 | 69,843 | + 1.6 |
*) percentage points
General economic situation
The massive downward trend of the global economy continued in the first quarter of 2009. While the effects of the financial crisis were initially felt particularly strongly in the US in 2008, the sharp economic downswing of recent months affected all regions in the world without exception. In the industrialised countries, the recession intensified towards the end of 2008. The strongly export-dependent emerging economies in Asia also recorded a dramatic economic downswing since they were impacted by the slump in demand for consumer goods in the industrialised countries. Due to the worldwide decline in industrial production, world trade also decreased notably.