Q4 2024 TUI AG Earnings Call Transcript
Key Points
- TUI AG (TUIFF) reported a significant increase in EBIT, up 33% year-over-year, driven by robust customer demand.
- The company achieved strong revenue growth, reaching EUR23 billion, in line with their guidance.
- TUI AG (TUIFF) successfully reduced its net debt, improving its financial profile and leverage ratio from 1.2 to 0.8.
- The company reported outstanding Net Promoter Scores (NPS) and customer satisfaction, indicating high customer loyalty and satisfaction.
- TUI AG (TUIFF) achieved its ESG milestones, including CO2 emission targets and social goals, demonstrating a commitment to sustainability.
- The Western region's performance was unsatisfactory, primarily due to one-time effects such as the valuation of maintenance reserves.
- The company faces headwinds from increased costs related to Sustainable Aviation Fuel (SAF) and Emissions Trading System (ETS) in the Markets & Airline segment.
- The delivery schedule for Boeing aircraft has been delayed, impacting capital expenditure and cash flow.
- Interest costs remain high, with a forecast of around EUR400 million, limiting potential savings despite a favorable interest rate environment.
- The UK market showed weaker summer bookings, down 3%, raising concerns about market share and competitive positioning.
Good morning, ladies and gentlemen. A very warm welcome to TUI's 2024 results presentation. My name is Nicola, and I'm here with our CEO, Sebastian Ebel; and our CFO, Mathias Kiep.
We are pleased to present a strong set of numbers for the financial year, and we are also pleased to say that we have achieved all our targets for this year. Throughout the presentation, we will give an update on our strategic progress, on trading as well as our expectations for the new financial year. And as always, we will be available after the presentation for Q&A.
With that, I have the pleasure to hand over to Sebastian.
Thank you, Nicola. I couldn't have done the introduction better than you. I'm really happy to present to you with Mathias the last year numbers and give you an outlook on our strategy and what we expect for the new year.
You know the agenda. It's a very similar setup like all the
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