Germany's TUI Q2 EBIT loss narrows, suspends FY26 revenue guidance

TUI AG

13/05/2026 06:55

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Overview

Germany travel group's fiscal Q2 revenue was stable yr/yr, with slight growth at constant currency

Underlying EBIT loss narrowed in Q2, helped by Markets + Airline transformation and cruise demand

Company suspended FY26 revenue guidance due to trading uncertainties

Outlook

TUI expects FY26 underlying EBIT of €1.1 bln to €1.4 bln

Company has suspended FY26 revenue guidance due to uncertainty

TUI says H2 Holiday Experiences demand remains strong despite uncertain geopolitical environment

Result Drivers

MARKETS + AIRLINE TRANSFORMATION - Co said strategic transformation and operational efficiencies in Markets + Airline segment drove underlying EBIT improvement despite cost pressures and lower risk capacity

STRONG CRUISE DEMAND - Underlying EBIT in Cruises was supported by strong UK and German demand and higher occupancy, though results were hit by Iran war-related disruptions

ONE-OFF IMPACTS - Q2 results were negatively affected by -€45m in one-off costs, mainly from the Iran war and Jamaica hurricane

Company press release: ID:nEQ43FflMa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
EUR 3.70 bln
Q2 Net Debt
EUR 3.01 bln
Q2 Pretax Profit
-EUR 296 mln


Analyst Coverage

The stock recently traded at 5 times the next 12-month earnings vs. a P/E of 6 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)