TUI is engaged in the tourism business, operating in some 180 countries. Co.'s segments include Hotels & Resorts, Cruises and Other Tourism. The Hotels & Resorts segment comprises all Group-owned hotels and hotel companies in TUI Group. The segment comprises majority participations in hotels, joint ventures with local partners, stakes in companies. The Cruises segment consists of Hapag-Lloyd Cruises and the joint venture TUI Cruises. Other Tourism segment comprises central functions such as destination services, IT, aviation control and the French airline Corsair.
  • TickerTUI1
  • ISINDE000TUAG000
  • SectorTravel & Leisure
  • CountryGermany

Analysts

Damien Bas

Tui Group - RATING REPORT

Our rating acknowledges Tui’s strong performance in FY16/17, a year with substantially fewer in-dustry shocks compared with FY15/16 (terrorism in France, Turkish coup…). Volumes rose sharply while gross margin remained broadly stable, only down 30bps at 10.8%. In fact, Tui’s favourable perfor-mance in terms of content offering (hotels, cruises) and relative stability on most “source markets” countered profitability pressures mainly stemming from the UK.

TUI AG: Update Following Q1 FY2016/17 Results

CORPORATES CREDIT OPINION 25 April 2017 Update RATINGS TUI AG Domicile Germany Long Term Rating Ba2 Type LT Corporate Family Ratings - Fgn Curr Outlook Stable Please see the ratings section at the end of this report for more information. The ratings and outlook shown reflect information as of the publication date. Contacts Sven Reinke 44-20-7772-1057

TUI AG - December 2016 (LTM): Peer Snapshot

Peer Snapshot: TUI AG - December 2016 (LTM) 19 April 2017 (in US millions) FYE Sep-15 FYE Sep-16 LTM Dec-16 FYE Nov-15 FYE Nov-16 LTM Feb-17 FYE Sep-14 FYE Sep-15 LTM Sep-16

Fehmi Ben Naamane ...
  • Matthias Desmarais

TUI AG : Q2 in line with Q1. Our view of the business model is intact

>No change in the trend in Q2 - TUI interim results contained no major surprises: at -€ 310m, the adjusted EBITA loss at group level was not as steep as feared, although there is only limited visibility on the operational performance due to the seasonal nature of the business. Management thus confirmed the unfavourable momentum that the group has faced since the end of the 2018 summer season and that this has led to two consecutive profit warnings (with the second ess...

Fehmi Ben Naamane ...
  • Matthias Desmarais

TUI AG : Un T2 dans la continuité du T1 et qui ne remet pas en cause notre perception du business model

>Pas de changement de tendance au T2 - Les résultats semestriels de TUI ressortent sans grande surprise ; la perte d’EBITA ajusté groupe de -301 M€ est in fine moins accentuée que ce qu’on prévoyait mais la visibilité sur la performance opérationnelle était faible du fait de la saisonnalité. Le groupe confirme ainsi le momentum difficile auquel il fait face depuis la fin de la saison estivale 2018 et qui a conduit à deux profit warnings consécutifs (le deuxième étant ...

Fehmi Ben Naamane ...
  • Matthias Desmarais

TUI AG : Mixed set of figures in H1

>Mixed bag in H1 - TUI AG has just reported its H1 2019 results (to end1eMarch), with mixed figures. Revenues grew by 2% to € 6,676m, 4% below expectations. The underlying EBITA seasonal loss came to 1e€ 301m, a deterioration vs. the -€ 170m reported in H1 2018, but beat expectations (our estimate was for -€ 326m and the consensus for -€ 324m).As expected, the tour operating division remains under pressure. The seasonal EBITA loss deepened in H1 to -€ 497m (vs. -€ ...

Fehmi Ben Naamane ...
  • Matthias Desmarais

TUI AG : Mixed set of figures in H1

>Mixed bag in H1 - TUI AG has just reported its H1 2019 results (to end1eMarch), with mixed figures. Revenues grew by 2% to € 6,676m, 4% below expectations. The underlying EBITA seasonal loss came to 1e€ 301m, a deterioration vs. the -€ 170m reported in H1 2018, but beat expectations (our estimate was for -€ 326m and the consensus for -€ 324m).As expected, the tour operating division remains under pressure. The seasonal EBITA loss deepened in H1 to -€ 497m (vs. -€ ...

Fehmi Ben Naamane ...
  • Matthias Desmarais

TUI AG : Profit Warning on the impact of the grounding of the fleet of Boeing 737 Max – Buy, target price adjusted to € 12.9

>Significant downward revision to guidance for 2019 EBITA - impact of the grounding of the Boeing 737 max - On Friday, TUI announced a fresh profit warning on 2019. Management now anticipates group EBITA adjusted down 17% y-o-y, vs stable previously. This is the second profit warning, after that issued in at the beginning of February, but this time the reasons are different since it is not the underlying activity which is to blame but rather the decision to ground the...

1 director bought

A director at Tui Ag bought 171,919 shares at 8.400EUR and the significance rating of the trade was 76/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board membe...

Alexandre Iatrides ...
  • Benoit Valleaux
  • Charles Lepetitpas
  • Emmanuel Matot
  • Fehmi Ben Naamane
  • Florent Laroche-Joubert
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Khaled Ben Amor
  • Louis Boujard
  • Matthias Desmarais
  • Nicolas David
  • Philippe Ourpatian
  • Pierre Tegner
  • Rémi Adam
  • Roland Pfaender
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/16/2019

...

Alexandre Iatrides ...
  • Benoit Valleaux
  • Charles Lepetitpas
  • Emmanuel Matot
  • Fehmi Ben Naamane
  • Florent Laroche-Joubert
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Khaled Ben Amor
  • Louis Boujard
  • Matthias Desmarais
  • Nicolas David
  • Philippe Ourpatian
  • Pierre Tegner
  • Rémi Adam
  • Roland Pfaender
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 16/05/2019

...

Anis Zgaya ...
  • Christophe-Raphaël Ganet
  • Fehmi Ben Naamane
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Khaled Ben Amor
  • Laurence Hofmann
  • Louis Boujard
  • Matthias Desmarais
  • Michael Foundoukidis
  • Olfa Taamallah
  • Philippe Ourpatian
  • Rémi Adam
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/15/2019

...

Anis Zgaya ...
  • Christophe-Raphaël Ganet
  • Fehmi Ben Naamane
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Khaled Ben Amor
  • Laurence Hofmann
  • Louis Boujard
  • Matthias Desmarais
  • Michael Foundoukidis
  • Olfa Taamallah
  • Philippe Ourpatian
  • Rémi Adam
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 15/05/2019

...

Antoine Boivin-Champeaux ...
  • Bruno Cavalier
  • Fehmi Ben Naamane
  • Jean Sassus
  • Jerôme Bodin
  • Matthias Desmarais
  • Steven Gould
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/01/2019

We have downgraded the stock to Neutral given the prospect of yet another transition phase due to the reorganisation efforts, which is set to extend at least until 2020, coupled with execution risks, one-off costs and the economic slowdown risk. Our target price is now CHF 19.0 ($ 19.0, SEK 175). Cf. equity report published today. - ...

Ng Adrian

TUI Group

Ng Adrian

TUI Group

Ng Adrian

TUI Group

Ng Adrian

TUI Group

Ng Adrian

TUI Group

Tui Group – Proxinvest Corporate Governance Rating ® : B

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Expert Corporate Governance Service (ECGS)

Tui - February 19th, 2019

General: Supervisory Board member Prof. Dr. Edgar Ernst is a member of the Advisory Committee of DSW, the local partner of ECGS. This report has been prepared using standard ECGS guidelines. Items 4.3 and 4.14: We recommend to oppose the discharge of Supervisory Board members Peter Long and Alexey Mordashov due to their insufficient attendance at Supervisory Board and committee meetings in financial year 2017/2018. Item 8: Approval is sought for the unchanged remuneration system which has been applicable since financial year 2017/2018. Disclosure is in line with market practice. The level of...

Jérôme VINERIER

Short term view - TUI : The movement goes on.

The background trend is clearly bearish. The movement goes on. The next target is at €14.023, then €13.400. Passing €16.700 would question the continuation of the fall.

Jérôme VINERIER

Analyse court terme - TUI : Le mouvement se poursuit.

La tendance de fond est clairement orientée à la baisse. Le mouvement se poursuit. Le prochain objectif est à 14,023 €, puis 13,400 €. Le franchissement de 16,700 € remettrait en cause la suite de la baisse.

Jérôme VINERIER

Analyse court terme - TUI : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Le mouvement se poursuit. Le prochain objectif est à 14,023 €, puis 13,400 €. Le franchissement de 16,700 € remettrait en cause la suite de la baisse.

Jérôme VINERIER

Short term view - TUI : The background trend is clearly bearish.

The background trend is clearly bearish. The movement goes on. The next target is at €14.023, then €13.400. Passing €16.700 would question the continuation of the fall.

Jérôme VINERIER

Medium term view - TUI : Falling prices.

The trend is uncertain. Prices are falling and they may accelerate to the downside. A new bearish trend is attempting to emerge.

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