Duyuru • Jun 25
TUI Group Announces Executive Changes On 1 August 2024, Kuzey Esener will become the new Director of Communications at TUI Cruises in Hamburg. He is currently Head of Media Relations at TUI Group and is responsible for press and PR at the Group headquarters for all economic and financial topics, strategy and MA, as well as all overarching Group topics in the areas of sustainability, HR and IT. In his new role, he will continue to be associated with the TUI Group and the global communications team when he moves from the parent company to the Hamburg-based joint venture. In his new role, Kuzey Esener will report to Wybcke Meier, CEO of TUI Cruises GmbH. With his extensive experience and deep understanding of the communications landscape, he will play a crucial role in further strengthening brand and taking corporate communications to the next level. Kuzey is already well acquainted with the cruise business and has successfully managed major projects such as the integration of Hapag-Lloyd Cruises into the joint venture or various name giving events on behalf of the TUI Group. The successor to Kuzey Esener at TUI Group headquarters as of 1 August will be announced in due course. Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to UK£5.75, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 17x in the Hospitality industry in the United Kingdom. Total loss to shareholders of 67% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at UK£9.37 per share. Reported Earnings • Feb 13
First quarter 2024 earnings released: €0.24 loss per share (vs €1.40 loss in 1Q 2023) First quarter 2024 results: €0.24 loss per share (improved from €1.40 loss in 1Q 2023). Revenue: €4.30b (up 15% from 1Q 2023). Net loss: €122.6m (loss narrowed 52% from 1Q 2023). Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Hospitality industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 119% per year but the company’s share price has fallen by 46% per year, which means it is significantly lagging earnings. Duyuru • Dec 08
TUI AG to Report First Half, 2024 Results on May 15, 2024 TUI AG announced that they will report first half, 2024 results on May 15, 2024 New Risk • Dec 07
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 0% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. This is currently the only risk that has been identified for the company. Reported Earnings • Dec 07
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: EPS: €0.80 (up from €1.70 loss in FY 2022). Revenue: €20.7b (up 25% from FY 2022). Net income: €306.0m (up €583.3m from FY 2022). Profit margin: 1.5% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) missed analyst estimates by 16%. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Hospitality industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 106% per year but the company’s share price has fallen by 48% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Dec 06
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to UK£5.88, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 19x in the Hospitality industry in the United Kingdom. Total loss to shareholders of 51% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at UK£11.51 per share. Reported Earnings • Aug 10
Third quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2023 results: EPS: €0.07 (up from €2.20 loss in 3Q 2022). Revenue: €5.29b (up 19% from 3Q 2022). Net income: €22.6m (up €379.3m from 3Q 2022). Profit margin: 0.4% (up from net loss in 3Q 2022). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 4.5%. Earnings per share (EPS) missed analyst estimates by 49%. Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the Hospitality industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has fallen by 45% per year, which means it is significantly lagging earnings. Duyuru • Aug 09
TUI AG to Report Fiscal Year 2023 Results on Dec 06, 2023 TUI AG announced that they will report fiscal year 2023 results on Dec 06, 2023 Reported Earnings • May 10
Second quarter 2023 earnings released: €1.26 loss per share (vs €2.10 loss in 2Q 2022) Second quarter 2023 results: €1.26 loss per share. Revenue: €3.15b (up 48% from 2Q 2022). Net loss: €364.3m (loss widened 8.5% from 2Q 2022). Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 9.2% growth forecast for the Hospitality industry in the United Kingdom. Reported Earnings • Feb 19
First quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2023 results: €0.14 loss per share (improved from €0.27 loss in 1Q 2022). Revenue: €3.75b (up 58% from 1Q 2022). Net loss: €256.1m (loss narrowed 33% from 1Q 2022). Revenue exceeded analyst estimates by 3.7%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 9.6% growth forecast for the Hospitality industry in the United Kingdom. Duyuru • Feb 14
TUI AG to Report Q3, 2023 Results on Aug 14, 2023 TUI AG announced that they will report Q3, 2023 results on Aug 14, 2023 Reported Earnings • Dec 16
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: €0.17 loss per share (improved from €2.59 loss in FY 2021). Revenue: €16.5b (up 250% from FY 2021). Net loss: €277.3m (loss narrowed 89% from FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 27%. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 9.4% growth forecast for the Hospitality industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 48% per year, which means it is performing significantly worse than earnings. Duyuru • Nov 17
TUI AG, Annual General Meeting, Feb 14, 2023 TUI AG, Annual General Meeting, Feb 14, 2023. Agenda: AGM. Reported Earnings • Aug 11
Third quarter 2022 earnings: Revenues exceed analyst expectations Third quarter 2022 results: Revenue: €4.43b (up €3.78b from 3Q 2021). Net loss: €356.7m (loss narrowed 62% from 3Q 2021). Revenue exceeded analyst estimates by 3.0%. Over the next year, revenue is forecast to grow 42%, compared to a 28% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has only fallen by 42% per year, which means it has not declined as severely as earnings. Reported Earnings • May 12
Second quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2022 results: €0.21 loss per share (up from €0.66 loss in 2Q 2021). Revenue: €2.13b (up €1.88b from 2Q 2021). Net loss: €335.7m (loss narrowed 50% from 2Q 2021). Revenue exceeded analyst estimates by 2.4%. Earnings per share (EPS) missed analyst estimates. Over the next year, revenue is forecast to grow 95%, compared to a 32% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has only fallen by 34% per year, which means it has not declined as severely as earnings. Reported Earnings • Feb 09
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: €0.27 loss per share (up from €1.32 loss in 1Q 2021). Revenue: €2.37b (up 406% from 1Q 2021). Net loss: €384.3m (loss narrowed 51% from 1Q 2021). Revenue exceeded analyst estimates by 15%. Earnings per share (EPS) also surpassed analyst estimates by 4,919%. Over the next year, revenue is forecast to grow 142%, compared to a 39% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 54 percentage points per year, which is a significant difference in performance. Reported Earnings • Dec 10
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: €2.58 loss per share (up from €5.34 loss in FY 2020). Revenue: €4.73b (down 40% from FY 2020). Net loss: €2.47b (loss narrowed 22% from FY 2020). Revenue missed analyst estimates by 14%. Earnings per share (EPS) exceeded analyst estimates by 9.3%. Earnings per share (EPS) surpassed analyst estimates by 9.3%. Over the next year, revenue is forecast to grow 235%, compared to a 45% growth forecast for the restaurants industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 65 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 13
Third quarter 2021 earnings released The company reported a solid third quarter result with reduced losses, improved revenues and improved control over expenses. Third quarter 2021 results: Revenue: €649.7m (up €577.9m from 3Q 2020). Net loss: €934.8m (loss narrowed 34% from 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 95 percentage points per year, which is a significant difference in performance. Executive Departure • Jul 01
Chief HR & Labour Director and Member of the Executive Board Elke Eller has left the company On the 30th of June, Elke Eller's tenure as Chief HR & Labour Director and Member of the Executive Board ended after 5.7 years in the role. As of March 2021, Elke still personally held 22.55k shares (UK£82k worth at the time). A total of 6 executives have left over the last 12 months. The current median tenure of the management team is 5.33 years. Reported Earnings • May 14
Second quarter 2021 earnings released: €0.66 loss per share (vs €1.25 loss in 2Q 2020) The company reported a soft second quarter result with weaker revenues and control over costs, although losses reduced. Second quarter 2021 results: Revenue: €248.2m (down 91% from 2Q 2020). Net loss: €671.9m (loss narrowed 8.3% from 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 85 percentage points per year, which is a significant difference in performance. Executive Departure • Apr 07
Independent Member of Supervisory Board has left the company On the 25th of March, Angelika Gifford's tenure as Independent Member of Supervisory Board ended after 9.0 years in the role. As of December 2020, Angelika personally held only 4.10k shares (UK£19k worth at the time). A total of 6 executives have left over the last 12 months. Executive Departure • Apr 07
Second Deputy Chairman of Supervisory Board Peter Long has left the company On the 25th of March, Peter Long's tenure as Second Deputy Chairman of Supervisory Board ended after 3.1 years in the role. As of December 2020, Peter personally held 8.63k shares (UK£40k worth at the time). A total of 6 executives have left over the last 12 months. Executive Departure • Mar 26
Employee Representative Member of Supervisory Board has left the company On the 25th of March, Dierk Hirschel's tenure as Employee Representative Member of Supervisory Board ended after 6.2 years in the role. We don't have any record of a personal shareholding under Dierk's name. A total of 4 executives have left over the last 12 months. Executive Departure • Mar 26
Employee Representative Member of Supervisory Board has left the company On the 25th of March, Michael Ponipp's tenure as Employee Representative Member of Supervisory Board ended after 7.9 years in the role. As of December 2020, Michael personally held only 1.23k shares (UK£5.6k worth at the time). A total of 4 executives have left over the last 12 months. Reported Earnings • Feb 11
First quarter 2021 earnings released: €1.36 loss per share (vs €0.22 loss in 1Q 2020) The company reported a poor first quarter result with increased losses, weaker revenues and weaker control over costs. First quarter 2021 results: Revenue: €468.1m (down 88% from 1Q 2020). Net loss: €802.9m (loss widened €674.3m from 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. Analyst Estimate Surprise Post Earnings • Feb 10
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 42%. Earnings per share (EPS) exceeded analyst estimates by 4,918%. Over the next year, revenue is forecast to grow 196% while theHospitality industry in the United Kingdom is not expected to grow. Is New 90 Day High Low • Feb 08
New 90-day low: UK£3.31 The company is down 17% from its price of UK£3.98 on 10 November 2020. The British market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is UK£4.53 per share. Reported Earnings • Dec 12
Full year 2020 earnings released: €5.34 loss per share The company reported a poor full year result with weaker earnings, revenues and control over expenses. Full year 2020 results: Revenue: €7.94b (down 58% from FY 2019). Net loss: €3.15b (down €3.56b from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 101% per year but the company’s share price has only fallen by 35% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Dec 12
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 19%. Earnings per share (EPS) exceeded analyst estimates by 45%. Over the next year, revenue is forecast to grow 64% while the growth in Hospitality industry in the United Kingdom is expected to stay flat. Is New 90 Day High Low • Nov 11
New 90-day high: UK£3.98 The company is up 8.0% from its price of UK£3.67 on 12 August 2020. The British market is up 1.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Hospitality industry, which is up 19% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is UK£8.36 per share. Is New 90 Day High Low • Sep 22
New 90-day low: UK£2.71 The company is down 29% from its price of UK£3.80 on 24 June 2020. The British market is down 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is UK£8.41 per share.