- Positive development of TUI Travel in Q2 due to active capacity management.
- Stable earnings by TUI Hotels & Resorts despite negative market environment.
- Earnings by cruises down year-on-year due to start-up costs for TUI Cruises.
TUI Group in Figures
| € million | Q2 2009 | Q2 2008 restated | Var. % | H1 2009 restated | H1 2008 restated | Var. % | |
|---|---|---|---|---|---|---|---|
| Continuing operations | |||||||
| Turnover | 4,175.7 | 4,740.4 | - 11.9 | 7,258.6 | 8,371.2 | - 13.3 | |
| EBITDAR | 371.0 | 185.1 | + 100.4 | 316.7 | 194.7 | + 62.7 | |
| EBITDA | 150.8 | - 5.6 | n/a | - 112.5 | - 170.9 | + 34.2 | |
| EBITA | 52.1 | - 133.3 | n/a | - 309.7 | - 432.4 | + 28.4 | |
| of which tourism | 63.8 | - 146.7 | n/a | - 287.9 | - 452.7 | + 36.4 | |
| of which central operations | - 11.7 | 13.4 | n/a | - 21.8 | 20.3 | n/a | |
| Underlying EBITA | 94.9 | 101.1 | - 6.1 | - 191.8 | - 112.6 | - 70.3 | |
| of which tourism | 106.6 | 87.7 | + 21.6 | - 170.0 | - 132.9 | - 27.9 | |
| of which central operations | - 11.7 | 13.4 | n/a | - 21.8 | 20.3 | n/a | |
| Discontinued operation – Container shipping | |||||||
| Earnings discontinued operation | - 8.1 | 151.7 | n/a | 937.0 | 140.2 | + 568.3 | |
| EBITA | - 8.1 | 89.0 | n/a | 894.2 | 90.1 | + 892.5 | |
| Underlying EBITA | 0.0 | 114.9 | n/a | - 221.7 | 133.4 | n/a | |
| Group | |||||||
| EBITA | 44.0 | - 44.3 | n/a | 584.5 | - 342.3 | n/a | |
| Underlying EBITA | 94.9 | 216.0 | - 56.1 | - 413.5 | 20.8 | n/a | |
| Goup profit/loss | - 523.6 | - 126.9 | - 312.6 | 81.9 | - 405.7 | n/a | |
| Basic earnings per share | in € | - 2.16 | - 0.24 | - 800.0 | + 0.78 | - 0.93 | n/a |
| Capital expenditure | 81.5 | 228.5 | - 64.3 | 220.5 | 474.0 | - 53.5 | |
| Equity ratio (30 June) | in % | – | – | – | 15.0 | 13.4 | + 1.6*) |
| Employees (30 June) | – | – | – | 69,331 | 77,352 | - 10.4 |
TUI Group in Figures
| € million | Q2 2009 | Q2 2008 restated | Var. % | H1 2009 restated | H1 2008 restated | Var. % | |
|---|---|---|---|---|---|---|---|
| Continuing operations | |||||||
| Turnover | 4,175.7 | 4,740.4 | - 11.9 | 7,258.6 | 8,371.2 | - 13.3 | |
| EBITDAR | 371.0 | 185.1 | + 100.4 | 316.7 | 194.7 | + 62.7 | |
| EBITDA | 150.8 | - 5.6 | n/a | - 112.5 | - 170.9 | + 34.2 | |
| EBITA | 52.1 | - 133.3 | n/a | - 309.7 | - 432.4 | + 28.4 | |
| of which tourism | 63.8 | - 146.7 | n/a | - 287.9 | - 452.7 | + 36.4 | |
| of which central operations | - 11.7 | 13.4 | n/a | - 21.8 | 20.3 | n/a | |
| Underlying EBITA | 94.9 | 101.1 | - 6.1 | - 191.8 | - 112.6 | - 70.3 | |
| of which tourism | 106.6 | 87.7 | + 21.6 | - 170.0 | - 132.9 | - 27.9 | |
| of which central operations | - 11.7 | 13.4 | n/a | - 21.8 | 20.3 | n/a | |
| Discontinued operation – Container shipping | |||||||
| Earnings discontinued operation | - 8.1 | 151.7 | n/a | 937.0 | 140.2 | + 568.3 | |
| EBITA | - 8.1 | 89.0 | n/a | 894.2 | 90.1 | + 892.5 | |
| Underlying EBITA | 0.0 | 114.9 | n/a | - 221.7 | 133.4 | n/a | |
| Group | |||||||
| EBITA | 44.0 | - 44.3 | n/a | 584.5 | - 342.3 | n/a | |
| Underlying EBITA | 94.9 | 216.0 | - 56.1 | - 413.5 | 20.8 | n/a | |
| Goup profit/loss | - 523.6 | - 126.9 | - 312.6 | 81.9 | - 405.7 | n/a | |
| Basic earnings per share | in € | - 2.16 | - 0.24 | - 800.0 | + 0.78 | - 0.93 | n/a |
| Capital expenditure | 81.5 | 228.5 | - 64.3 | 220.5 | 474.0 | - 53.5 | |
| Equity ratio (30 June) | in % | – | – | – | 15.0 | 13.4 | + 1.6*) |
| Employees (30 June) | – | – | – | 69,331 | 77,352 | - 10.4 |
*) percentage points
General economic situation
In the second quarter of 2009, recessionary tendencies continued both in the industrialised countries and in most emerging economies. However, the downward momentum of the world economy slowed down substantially towards the end of the first half of 2009. Following a sharp downturn at the beginning of the year, the decline in global trade almost came to an end. Industrial production continued to contract in the second quarter; however, the pace of the decline has moderated noticeably since February. Commodity prices have bottomed out. Sentiment indicators such as business and consumer climate have stabilised at a low level or have improved. The situation in the financial markets has also eased slightly. The comprehensive national economic stimulus packages, combined with monetary and fiscal policies massively supporting the economy worldwide, are increasingly taking effect. However, cyclical risks continue to be strong.