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Press Releases

Results for the Third Quarter ended 30 June 2009

12 Aug 2009

Key financials

Third quarter ended 30 June 2009

£mQ3 09Q3 08Change %
Revenue3,5753,616-1%
Underlying operating profit110265+57%
Underlying operating margin %2.9%1.8%+1.1pp

1 Underlying operating profit / loss excludes separately disclosed items, amortisation of IFRS 3 intangibles, goodwill impairmentand taxation of results of the Group’s joint ventures and associates

Highlights

  • The group delivered a good performance in the third quarter with underlying operating
    profits up by £37m to £102m, driven by:
    - Incremental £21m of synergy benefits delivered;
    - Good trading in the UK, Nordics and Germany, despite an adverse impact from the
    swine flu outbreak in Mexico;
    - Continued elimination of losses in the scheduled flying operations in Germany and
    the UK; and
    - The timing of Easter, which this year fell in the third quarter.
  • Summer 2009 continues to trade in line with our expectations with customers booking
    closer to departure; achieving required load factors and average selling prices.
  • Winter 2009/10 booking volumes behind last year, as anticipated, with capacity adjusted
    to align supply and demand.
  • Summer 2010 trading has started positively in the UK, with bookings in line with the prior
    year despite the programme launching two months later.
  • Well positioned to meet the Board’s expectations for the year ended 30 September 2009.

 Peter Long, Chief Executive Officer of TUI Travel PLC, commented

‘‘We are pleased with these results and remain well positioned to meet the Board’s expectations for the year ending 30 September 2009. Our UK Summer 2010 programme, which only launched recently, is trading well and we remain satisfied with our trading performance across all open seasons. Now, more than ever, customers are choosing to book their holidays with our high quality, trustworthy brands.

We anticipate market conditions will remain challenging and expect the later booking pattern to continue in the next financial year. We will continue to maintain a high degree of flexibility in our business model to allow us to alter capacity in line with market conditions.”

Conference Call

A conference call for analysts will take place today at 9.00am (BST). The dial-in arrangements for the call are as follows:

Telephone:+44 (0) 1452 555 566
Participant Code:24586272

A presentation to accompany the conference call will be made available at 8.00 am (BST) via our corporate website:

http://www.tuitravelplc.com

A recording of the conference call will be available on:

Telephone:+44 (0) 1452 550 000
Participant Code:24586272#

Enquiries:

TUI Travel PLC
Paul Bowtell, Chief Financial OfficerTel: 01293 645 713
Andy Jones, Director of Finance & Investor RelationsTel: 01293 645 795
David Paterson, Head of Strategy & Investor RelationsTel: 01293 645 795
Lesley Allan, Corporate Communications DirectorTel: 01293 645 773
 Hudson Sandler
Jessica Rouleau /Kate HoughTel: 020 7796 4133

 

Results for the Third Quarter ended 30 June 2009 (134KB PDF)
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Annual Report

Our Annual Report & Accounts 2009 is now available to view online or download.

Awards

TUI Travel wins best FTSE 100 online annual report at the Strategic Value in Corporate Reporting Awards.