TUI GROUP AGM 2017 Friedrich Joussen CEO

Transcription

1 TUI GROUP AGM 2017 Friedrich Joussen CEO

2 Earnings guidance for financial year 20 outperformed Actual FY 20 Y-o-y var. (at constant ROIC FY 20 currency) Brand turnover: 19.9bn 2.4% 22% 22% Turnover: 17.2bn 1.4% Target: at least. +10% EBITA (underl.): 1,001m 14.5% WACC 10,0% EBITA: 898m 1) 13.0% WACC 7,5% Operating cash flow: 942m 1) 14/ % 2 1) Veränderung inklusive Währungseffekt

3 Attractive dividend policy Earnings per share (in ) 1) Dividend (in ) ,78 0,56 0,63 0,33 0,64 0,26 13/14 14/15 13/14 14/15 Proposed dividend of 63 cents reflects our strong earnings growth 3 1) Earnings per share TUI Group; financial year 20 including proceeds from disposal of Hotelsbeds Group

4 Value of the TUI share Dividend yield 1) +4.6% 250% 225% Stock price development since July % +2.7% +2.4% 175% 150% 125% +167% 100% +109% 75% 50% 25% +28% 0% Jul '12 Jul '13 Jul '14 Jul '15 Jul '16 4 1) Dividendenrendite errechnet aus Dividende für GJ16 im Verhältnis zum Aktienkurs am 9. Februar 2017; Index-Renditen gem. Thomson-Reuters TUI AG Hauptversammlung 2017

5 Source markets: Northern Region delivers strong performance Turnover and earnings (in m) 14/15 % As yet, no sign of any adverse impact of the UK referendum on our 2017 Summer bookings Turnover 15,438 15, EBITA (underlying) EU Referendum 23 June 2016 EBITA (underlying, in m) June July August September October November December January 14/15 Northern Region Central Region Western Region FX translation Summer 17 Summer 16 5

6 Hotels & Resorts: Strong performance driven by Riu Turnover and earnings (in m) ROIC in % Hotels & Resorts 14/15 % 9% 11% 12% Total turnover 1,278 1, EBITA (underlying) /14 14/15 WACC 10.0% 9.3% 6.5% EBITA (underlying, in m) Occupancy in % Revenue per bed/day in /15 Turkey/ other hotels FX translation 13/14 14/15 13/14 14/15 6

7 Cruises: TUI Cruises with strong earnings growth Turnover and earnings (in m) ROIC in % Cruises 14/15 % 17% 21% Brand turnover 1) 1, EBITA (underlying) % 13/14 14/15 WACC 11.5% 9.0% 7.5% EBITA (underlying, in m) /15 7 1) Brand turnover incl. TUI Cruises

8 Cruises: Strong KPIs Passenger days Rate / day Occupancy Underlying EBITA/EAT y-o-y (%) ( 000) y-o-y (%) ( ) y-o-y (points) (%) y-o-y ( m) ( m) ) Growth driven by TUI Cruises; Hapag-Lloyd Cruises with sound performance 8 1) At equity result

9 Vertical integration based on scalable platforms Vertical integration Global platforms TUI brand Flight Hotels Engagement Performance Cruises Destination services IT & Digital Sustainable value creation through securing and de-risking occupancy 9

10 Transformation of our TUI is progressing Approx. 50% of capital expenditure spent on Hotels & Cruises Hotels & Cruises are less seasonal Underlying EBITA 20 in m 504 Cruises 1) Hotels Source Markets, Destinations and other segments Q1 Q2 Hotels & Cruises 2) Q3 Q4 FY Approx. 50% of earnings delivered by Hotels & Cruises 497 Cruises 1) Hotels Source markets, Destinations and other segments Q1 Q2 Q3 Q4 FY Tour operators and other Group divisions 10 1) Pro forma figures for Thomson Cruises; 2) Hotels and Cruises (TUI Cruises, Thomson Cruises & Hapag-Lloyd Cruises)

11 Successful disposal of Hotelbeds Group in FY 20 Title Title Title Hotelbeds Group was sold at very attractive terms and conditions The cash proceeds was significantly higher than expected The agreement to sell our specialist tour operation business was signed on 13 February 2017 We have achieved attractive disposal proceeds The disposal marks a further key step in TUI Group's strategic development Additional potential relates to the disposal of our stake in Hapag Lloyd AG Our stake is now valued at a share price of around 28; at the IPO, the share price stood at 20, at the end of the previous financial year it was slightly more than 16 Our consolidation projects with CSAV and UASC create value. We therefore support these projects. Financing our transformation through disposal of non-core areas 11

12 Good start to Q1 Guidance for financial year 2016/17 reiterated Actual Q1 2016/17 1) Brand turnover: 4.0bn Y-o-y variation (at constant currency) +8% Outlook FY 2016/17 1) Good start to new financial year Turnover: 3.3bn EBITA (underlying): -60m +9% +17% Guidance for financial year 2016/17 reiterated Growth in Group turnover of around 3% expected Seeking to deliver underlying EBITA growth of at least 10% at constant currency EBITA: -70m +32% 2) 12 1) Continuing operations 2) Variation incl. FX effect

13 Our new TUI is considerably more attractive for our employees Significant increase in emploee engagement Engagement Index 1) +4 ppts Response rate in % +11%pts ) Source: TUIGether employee surveys 2015 and 2016

14 Tapping new source markets Southern Europe Asia South America 14 TUI AG Hauptversammlung 2017

15 Tapping new source markets TUI TUI AG Hauptversammlung 2017

16 Tapping new source markets TUI million customers 1 billion turnover 16 TUI AG Hauptversammlung 2017

17 TUI GROUP AGM 2017 Friedrich Joussen CEO