2024-05-15 23:42:06 ET
TUI AG (TUIFF)
Q2 2024 Earnings Conference Call
May 15, 2024 05:30 ET
Company Participants
Nicola Gehrt - Investor Relations
Sebastian Ebel - Chief Executive Officer
Mathias Kiep - Chief Financial Officer
Conference Call Participants
Jamie Rollo - Morgan Stanley
Cristian Nedelcu - UBS
Muneeba Kayani - Bank of America
Ali Naqvi - HSBC
Presentation
Nicola Gehrt
Good morning, ladies and gentlemen. A warm welcome to TUI’s Second Quarter Results Presentation here in London. My name is Nicola and I am here on stage with our CEO, Sebastian Ebel; and our CFO, Mathias Kiep. They will present the second quarter results, which I think are a strong set of numbers. We will give an update on the trading and as well as our outlook expectations before we then conclude with the update on our strategic transformation. As always, afterwards, you will have the opportunity to ask some questions. And with that, Sebastian, the floor is yours.
Sebastian Ebel
Thank you. Thank you. So my voice is a little bit – I don’t know what the right word is. I haven’t been to the pup yesterday, but it’s the effect of a flu, but I’m well again. So welcome from my side as well. Happy to be here to talk about the progress of TUI. And you see us all in a good mood. The presentation will be very similar to what you are used to it. I will give a summary of the highlights. Mathias will go into the numbers, the trading outlook from my side and also a recap of our strategy of the measures, how do we move forward, what you can expect from us. And then, of course, we try and we’ll answer all the questions you may have.
So quarter two was strong, strong improvement of revenues, also a significant improvement of our EBIT. So we are well underway with what we want to achieve this year. There are a few interesting things what you do see in the second quarter, what you can expect for the third and fourth quarter, how the transformation has started to impact positively the business, so a lot of interesting things. Markets & Airlines had a very strong late business, which led to 9% more bookings, ASP 3%. And I’ve never seen such a strong late business like we had in the second quarter. And we all learn new things during what we do. The summer bookings are good, a strong, very solid. We try to find the right balance between margin and volume. And it’s a lot of good development we can do see....
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TUI AG (TUIFF) Q2 2024 Earnings Call Transcript