TUI Group hits €448m annual profit following fusion
Finance News
After restructuring, the TUI Group reached a new record of its total earnings for the full financial year
The Group outperformed its forecast, with operating results reaching 1.069 billion Euros, a 22.9 per cent increase when compared to the previous year figures (€870 million).
Due to high operating performance, lower interest payments and overall positive tax effects, group profit increased by 56.7 per cent to a total of €448.4 million.
The Northern Region, Hotels & Resorts and Cruises contributed to substantial earnings tourism growth.
Fritz Joussen, chief executive TUI Group, commented on the company's financial achievements:
“The first year following the restructuring of the TUI Group was completed with a very strong set of results.
“With the support of our 76,000 employees in 130 countries, we implemented our post-merger integration and delivered growth despite various geopolitical challenges.
“We have delivered on our promises, outperforming our ambitious targets.
“Our integrated business model and the new structures have strengthened our group and accelerated growth.
“We are headed in the right direction.
“I am confident that we will continue to deliver sustainable profitable growth for our group.
“This will create value for our shareholders and our employees.
“TUI today is in very good shape.
“We are the global market leader in tourism and remain set for growth.”
The Group outperformed its forecast, with operating results reaching 1.069 billion Euros, a 22.9 per cent increase when compared to the previous year figures (€870 million).
Due to high operating performance, lower interest payments and overall positive tax effects, group profit increased by 56.7 per cent to a total of €448.4 million.
The Northern Region, Hotels & Resorts and Cruises contributed to substantial earnings tourism growth.
Fritz Joussen, chief executive TUI Group, commented on the company's financial achievements:
“The first year following the restructuring of the TUI Group was completed with a very strong set of results.
“With the support of our 76,000 employees in 130 countries, we implemented our post-merger integration and delivered growth despite various geopolitical challenges.
“We have delivered on our promises, outperforming our ambitious targets.
“Our integrated business model and the new structures have strengthened our group and accelerated growth.
“We are headed in the right direction.
“I am confident that we will continue to deliver sustainable profitable growth for our group.
“This will create value for our shareholders and our employees.
“TUI today is in very good shape.
“We are the global market leader in tourism and remain set for growth.”
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