TUI Group continues its growth path / Performance remains very positive in first half 2015/16 / Prep

TUI Group remains on a growth path. It continued its positive performance in the first half of financial year 2015/16 with a year-on-year increase in its result. In the period under review, the underlying operating result (EBITA) showed a typical seasonal loss of -236.9 million euros, down 16.3 per cent year-on-year. On a constant currency basis and excluding the benefit from the earlier timing of Easter, the typical seasonal loss was reduced by 13.5 per cent to -245.0 million euros. Turnover by TUI Group grew by 2.7 per cent to 6.79 billion euros within the same period (previous year 6.61 billion euros). Fritz Joussen, CEO TUI Group commented: "Step by step, we continue to grow, invest and expand our position as the world's number one tourism group. Having delivered the best result in the history of our Company in 2014/15, we have also started off very well into the current financial year 2015/16. Undoubtedly, we operated in a challenging market environment in the first half of the year. Nevertheless, we managed to deliver continued turnover and earnings growth. Our integrated business model and the strong focus on our hotel and cruise content have proven to be the right strategy and have made us resilient." Joussen stressed that the Group remained focussed on delivering its growth strategy and alignment as a vertically integrated tourism group. The successful disposal of Hotelbeds Group in the first half of the financial year marked a major step towards this goal. "Our future is to be a Group focussed fully on tourism. We will continue to sharpen this profile", said Joussen at the presentation of the first-half results in London.