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 : Feedback from company contact: message is positive despite everything

>A fairly positive message despite the difficulties in the sector - We had a meeting with TUI’s management; from the meeting we took away a fairly positive message on both the sector context (re-balancing of supply-demand in the wake of Thomas Cook’s collapse) and on the group’s own momentum (increase in outbound capacity from Germany and the UK, a strengthening of market share, brisk activity in hotels and cruises) and despite a few areas of uncertainty (Brexit effec...

Fehmi Ben Naamane ...
  • Matthias Desmarais

TUI AG : Feedback contact société : le message est plutôt positif

>Un message plutôt positif malgré les difficultés du secteur - Lors d’une rencontre avec le management de TUI, nous retenons un message plutôt positif à la fois sur le contexte sectoriel (rééquilibrage offre-demande suite à la faillite de Thomas Cook) que sur la dynamique propre du groupe (hausse des capacités au départ d’Allemagne et du UK, renforcement des parts de marchés, bonne activité dans l’hôtellerie et les croisières) et malgré quelques points d’incertitudes ...

Ng Adrian

TUI Group

Short Carl
Ng Adrian

TUI Group

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...

Alain William ...
  • Cecile De Coincy
  • Fehmi Ben Naamane
  • Jerôme Bodin
  • Louis Boujard, CFA
  • Matthias Desmarais
  • Philippe Ourpatian
  • Pierre Tegner

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/15/2019

Insurers are better equipped than a few years ago to cope with the low interest rate environment. With earnings per share set to continue to grow, the market is likely to focus primarily on solvency margin levels. We believe that they should remain within the target ranges as long as the German 10-year rate does not fall below -1.5%. We reiterate our Buy rating on AXA (target price of € 28). - Cf. company report published last evening. - ...

Alain William ...
  • Cecile De Coincy
  • Fehmi Ben Naamane
  • Jerôme Bodin
  • Louis Boujard, CFA
  • Matthias Desmarais
  • Philippe Ourpatian
  • Pierre Tegner

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 15/10/2019

...

Fehmi Ben Naamane ...
  • Harald Eggeling
  • Matthias Desmarais
  • Samantha Jeary
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 08/13/2019

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Fehmi Ben Naamane ...
  • Harald Eggeling
  • Matthias Desmarais
  • Samantha Jeary
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 13/08/2019

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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

...

TUI AG sees a downgrade to Slightly Negative on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of TUI AG (DE), active in the Recreational Services industry. As regards its fundamental valuation, the title now shows 2 out of 4 stars while market behaviour can be considered risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Slightly Negative. As of the analysis date August 16, 2019, the closing price was EUR 8.23 and its target price was estimated at EUR 6.86.

TUI Group

TUI Group

TUI Group

TUI Group

Tony Lebon

TUI AG : Q3 results and update on the Boeing 737 Max issue

TUI unveiled earlier this month Q3 results showing a net decline but were somehow better than expected on the profitability front. The impact of the Boeing 737 Max grounding was EUR -144m on Ebita during the period. The group continues to guide on extra-costs of EUR 300m maximum relating to the grounding for the current fiscal year (closing in September 2019). - Though the cash flows and balance-sheet metrics have deteriorated (mostly expected due to the Boeing Max issue), we do no...

Tony Lebon

TUI AG : Q3 results and update on the Boeing 737 Max issue

TUI unveiled earlier this month Q3 results showing a net decline but were somehow better than expected on the profitability front. The impact of the Boeing 737 Max grounding was EUR -144m on Ebita during the period. The group continues to guide on extra-costs of EUR 300m maximum relating to the grounding for the current fiscal year (closing in September 2019). - Though the cash flows and balance-sheet metrics have deteriorated (mostly expected due to the Boeing Max issue), we do no...

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...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Squarely in the neutral camp At this point in time the major global indexes (MSCI ACWI, ACWI ex-US, EAFE, EM) have failed to break above their respective resistance levels, leaving us squarely in the neutral camp. • We need to see more from cyclical value. We believe the aforementioned major global indexes are likely to remain below resistance or have limited upside unless and until we see more definitive signs of bottoming within cyclical value areas of the market (e.g., Materials, Energy, banks, major autos & parts, etc.)... see page 2. • Indicators supportive of a neutral outlook. Sever...

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.

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