TUI Reports Strong Cruise Numbers for FY2019

TUI FY2019 Earnings

TUI Group released its full year 2019 financial results on Wednesday, with strong performance coming from the company's trio of cruise brands: TUI, Marella and Hapag-Lloyd Cruises.

Underlying (cruise) EBITA increased by 43 million euro to 367 million euro, according to the company.

TUI Cruises increased capacity by 18 percent, while its daily ticket rate only dropped 2 percent.

"Average daily rate of 174 euro was down 2% versus the prior year, reflecting in part, the early delivery of Mein Schiff 2 in low yield season, the late marketing of Mein Schiff Herz, and our itinerary mix, with one further ship in the Mediterranean this year which typically commands a lower yield."

Occupancy for TUI remained strong at just under 101 percent.

Marella Cruises saw the annualization of earnings from the Marella Explorer 1 and the addition of the Marella Explorer 2, with rates going up six percent, the company said.

Occupancy for Hapag-Lloyd remained strong at 89 percent and the average daily rate increased by 4 percent to 641 euro, driven by the new additions to the Hapag-Lloyd fleet.

 

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