2nd quarter 2008 (half-year financial report)
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|
Turnover by divisions |
||||||
|---|---|---|---|---|---|---|
|
€ million |
Q2 2008 |
Q2 2007 |
Var. % |
H1 2008 |
H1 2007 |
Var. % |
|
Tourism |
4,721.6 |
3,680.3 |
+ 28.3 |
8,344.9 |
6,319.7 |
+ 32.0 |
|
TUI Travel |
4,575.2 |
3,553.6 |
+ 28.7 |
8,046.6 |
6,058.9 |
+ 32.8 |
|
TUI Hotels & Resorts |
99.9 |
90.7 |
+ 10.1 |
193.8 |
174.9 |
+ 10.8 |
|
Cruises |
46.5 |
36.0 |
+ 29.2 |
104.5 |
85.9 |
+ 21.7 |
|
Central operations |
18.6 |
44.0 |
- 57.7 |
31.8 |
75.0 |
- 57.6 |
|
Continuing operations |
4,740.2 |
3,724.3 |
+ 27.3 |
8,376.7 |
6,394.7 |
+ 31.0 |
|
Container shipping |
1,510.1 |
1,472.5 |
+ 2.6 |
2,961.3 |
2,896.2 |
+ 2.2 |
|
Discontinued operation |
1,510.1 |
1,472.5 |
+ 2.6 |
2,961.3 |
2,896.2 |
+ 2.2 |
|
Turnover by divisions |
6,250.3 |
5,196.8 |
+ 20.3 |
11,338.0 |
9,290.9 |
+ 22.0 |
|
Underlying EBITA by divisions |
||||||
|---|---|---|---|---|---|---|
|
€ million |
Q2 2008 |
Q2 2007 |
Var. % |
H1 2008 |
H1 2007 |
Var. % |
|
Tourism |
86 |
45 |
+ 91.1 |
- 135 |
- 180 |
+ 25.0 |
|
TUI Travel |
71 |
31 |
+ 129.0 |
- 169 |
- 213 |
+ 20.7 |
|
TUI Hotels & Resorts |
15 |
15 |
– |
28 |
31 |
- 9.7 |
|
Cruises |
0 |
- 1 |
+ 100.0 |
6 |
2 |
+ 200.0 |
|
Central operations |
15 |
- 15 |
n/a |
22 |
- 2 |
n/a |
|
Continuing operations |
101 |
30 |
+ 236.7 |
- 113 |
- 182 |
+ 37.9 |
|
Container shipping |
115 |
5 |
n/a |
133 |
- 31 |
n/a |
|
Discontinued operation |
115 |
5 |
n/a |
133 |
- 31 |
n/a |
|
Earnings by divisions (EBITA) |
216 |
35 |
+ 517.1 |
20 |
- 213 |
n/a |
|
EBITA by divisions |
||||||
|---|---|---|---|---|---|---|
|
€ million |
Q2 2008 |
Q2 2007 |
Var. % |
H1 2008 |
H1 2007 |
Var. % |
|
Tourism |
- 146 |
11 |
n/a |
- 451 |
- 224 |
- 101.3 |
|
TUI Travel |
- 159 |
- 3 |
n/a |
- 483 |
- 257 |
- 87.9 |
|
TUI Hotels & Resorts |
13 |
15 |
- 13.3 |
26 |
31 |
- 16.1 |
|
Cruises |
0 |
- 1 |
+ 100.0 |
6 |
2 |
+ 200.0 |
|
Central operations |
15 |
- 21 |
n/a |
22 |
- 8 |
n/a |
|
Continuing operations |
- 131 |
- 10 |
n/a |
- 429 |
- 232 |
- 84.9 |
|
Container shipping |
89 |
13 |
+ 584.6 |
90 |
150 |
- 40.0 |
|
Discontinued operation |
89 |
13 |
+ 584.6 |
90 |
150 |
- 40.0 |
|
Earnings by divisions (EBITA) |
- 42 |
3 |
n/a |
- 339 |
- 82 |
- 313.4 |
|
Profit and loss statement |
|||||||
|---|---|---|---|---|---|---|---|
|
€ million |
Q2 2008 |
Q2 2007 |
Var. % |
H1 2008 |
H1 2007 |
Var. % |
|
|
Turnover |
4,740.2 |
3,724.3 |
+ 27.3 |
8,376.7 |
6,394.7 |
+ 31.0 |
|
|
Cost of sales |
4,447.5 |
3,517.3 |
+ 26.4 |
8,019.8 |
6,264.8 |
+ 28.0 |
|
|
Gross profit/loss |
292.7 |
207.0 |
+ 41.4 |
356.9 |
129.9 |
+ 174.7 |
|
|
Administrative expenses |
322.6 |
236.9 |
+ 36.2 |
699.8 |
398.0 |
+ 75.8 |
|
|
Other income/other expenses |
- 99.7 |
+ 8.4 |
n/a |
- 82.1 |
19.9 |
n/a |
|
|
Impairment of goodwill |
76.1 |
– |
– |
76.1 |
– |
– |
|
|
Financial result |
- 100.5 |
- 53.6 |
- 87.5 |
- 193.6 |
- 105.5 |
- 83.5 |
|
|
- Financial income |
63.9 |
64.0 |
- 0.2 |
72.4 |
80.0 |
- 9.5 |
|
|
- Financial expenses |
164.4 |
117.6 |
+ 39.8 |
266.0 |
185.5 |
+ 43.4 |
|
|
Share of results of joint ventur es and associates |
+ 5.3 |
+ 10.2 |
- 48.0 |
+ 12.9 |
+ 15.4 |
- 16.2 |
|
|
Earnings before taxes on income |
- 300.9 |
- 64.9 |
- 363.6 |
- 681.8 |
- 338.3 |
- 101.5 |
|
|
Reconciliation to underlying earnings: |
|||||||
|
Earnings before taxes on income |
- 300.9 |
- 64.9 |
- 363.6 |
- 681.8 |
- 338.3 |
- 101.5 |
|
|
Interest result and earnings from the valuation of interest hedges |
93.7 |
54.8 |
+ 71.0 |
176.6 |
106.5 |
+ 65.8 |
|
|
Impairment of goodwill |
+ 76.1 |
– |
– |
+ 76.1 |
– |
– |
|
|
EBITA from continuing operations* ) |
- 131.1 |
- 10.1 |
n/a |
- 429.1 |
- 231.8 |
- 85.1 |
|
|
Adjustments |
|
||||||
|
Gains on disposals |
– |
– |
– |
– |
|
||
|
Restructuring |
190.6 |
8.7 |
|
217.7 |
10.3 |
|
|
|
Purchase price allocation |
11.7 |
– |
53.2 |
– |
|||
|
Other one-off items |
29.9 |
31.0 |
45.6 |
39.3 |
|
||
|
Underlying EBITA from continuing operations |
101.1 |
29.6 |
+ 241.6 |
- 112.6 |
- 182.2 |
+ 38.2 |
|
|
Earnings before taxes on income |
- 300.9 |
- 64.9 |
- 363.6 |
- 681.8 |
- 338.3 |
- 101.5 |
|
|
Taxes on income |
- 23.9 |
- 139.9 |
+ 82.9 |
- 138.2 |
- 205.9 |
+ 32.9 |
|
|
Result from continuing operations |
- 277.0 |
75.0 |
n/a |
- 543.6 |
- 132.4 |
- 310.6 |
|
|
Result from discontinued operation |
151.7 |
- 4.5 |
n/a |
140.2 |
97.9 |
+ 43.2 |
|
|
Group profit/loss for the year |
- 125.3 |
70.5 |
n/a |
- 403.4 |
- 34.5 |
n/a |
|
|
- attributable to shareholders of TUI AG of Group profit |
- 55.6 |
58.9 |
n/a |
- 222.4 |
- 57.6 |
- 286.1 |
|
|
- attributable to minority interests of Group profit |
- 69.7 |
11.6 |
n/a |
- 181.0 |
23.1 |
n/a |
|
|
Group profit/loss |
- 125.3 |
70.5 |
n/a |
- 403.4 |
- 34.5 |
n/a |
|
|
Basic earnings per share |
in € |
- 0.24 |
+ 0.19 |
n/a |
- 0.93 |
- 0.28 |
- 232.1 |
|
Diluted earnings per share |
in € |
- 0.24 |
+ 0.20 |
n/a |
- 0.93 |
- 0.28 |
- 232.1 |
*) EBITA is equivalent to earnings before interest, taxes on income and impairment of goodwill.