Q1 2020 Tui AG Earnings Call Transcript
Good morning, ladies and gentlemen. Welcome to the TUI AG conference call regarding Q1 results for 2020. (Operator Instructions) Let me now turn the floor over to your hosts, Mr. Friedrich Joussen and Ms. Birgit Conix.
Thank you very much, operator. Good morning, everybody, from Hanover, where we have our Annual General Meeting in due course. I'm very happy to update you on the latest quarter result.
Before I do that, a very short recap of last week's development where we actually sold our 100% AG -- on the 100% Hapag-Lloyd Cruise into the JV with TUI Cruises. That has been, and I think you know, a very strong and good transaction for us. It has been part of the Holiday Experiences asset-right expansion strategy piece. So it is the question of how to grow our businesses with the right input of capital. Now when you look at the acquisition, we sold Hapag-Lloyd for an enterprise value of EUR 1.2 billion, which is, when you compare it to our EBIT, a very strong multiple, I would say. We had
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
