FINANCIAL HIGHLIGHTS 2019

€ million		2019	2018 adjusted	Var. %	Var. % at constant currency
Turnover		18,928.1	18,468.7	+ 2.5	+ 2.7

Underlying EBITA¹
Hotels & Resorts		451.5	420.0	+ 7.5	– 4.9
Cruises		366.0	323.9	+ 13.0	+ 13.2
Destination Experiences		55.7	45.6	+ 22.1	+ 20.4
Holiday Experiences		873.2	789.5	+ 10.6	+ 3.6
Northern Region		56.8	278.2	– 79.6	– 77.1
Central Region		102.0	94.9	+ 7.5	+ 7.0
Western Region		– 27.0	124.2	n. a.	n. a.
Markets & Airlines		131.8	497.3	– 73.5	– 72.2
All other segments		– 111.7	– 144.0	+ 22.4	+ 18.5
TUI Group		893.3	1.142.8	– 21.8	– 25.6

EBITA^{2, 3}		768.4	1,054.5	– 27.1
Underlying EBITDA^{3, 4}		1,359.5	1,554.8	– 12.6
EBITDA^{3, 4}		1,277.4	1,494.3	– 14.5
EBITDAR^{3, 4, 5}		1,990.4	2,215.8	– 10.2

Net profit for the period		531.9	774.9	– 31.4
Earnings per share³	in €	0.71	1.17	– 39.3
Equity ratio (30 Sept.) ⁶	%	25.6	27.4	–1.8
Net capex and investments (30 Sept.)		1,118.5	827.0	+ 35.2
Net debt/ net cash (30 Sept.)		–909.6	123.6	n. a.
Employees (30 Sept.)		71,473	69,546	+ 2.8

Differences may occur due to rounding.

The TUI Group applied IFRS 15 and IFRS 9 retrospectively from 1 October 2018. In contrast to IFRS 15, IFRS 9 was introduced without restating the previ-ous year’s figures.

For details on reclassifications please refer to page 32.

¹In order to explain and evaluate the operating performance by the segments, EBITA adjusted for one-off effects (underlying EBITA) is presented. Underlying EBITA has been adjusted for gains/losses on disposal of investments, restructuring costs according to IAS 37, ancillary acquisition costs and conditional purchase price payments under purchase price allocations and other expenses for and income from one-off items. Please also refer from page 67 for further details

²EBITA comprises earnings before interest, income taxes and goodwill impairment. EBITA includes amortisation of other intangible assets. EBITA does not include measurement effects from interest hedges.

³Continuing operations.

⁴EBITDA is defined as earnings before interest, income taxes, goodwill impairment and amortisation and write-ups of other intangible assets, depreciation and write-ups of property, plant and equipment, investments and current assets. The amounts of amortisation and depreciation represent the net balance including write-backs. Underlying EBITDA has been adjusted for gains/losses on disposal of investments, restructuring costs according to IAS 37, ancillary acquisition costs and conditional purchase price payments under purchase price allocations and other expenses for and income from one-off items.

⁵For the reconciliation from EBITDA to the indicator EBITDAR, long-term leasing and rental expenses are eliminated.

⁶Equity divided by balance sheet total in %, variance is given in percentage points.

Key Financial Information

Financial Highlights 2019