TUI AG: shares up after 'reassuring' results
(CercleFinance.com) - Shares in Germany's TUI are currently up over 5% today, after the travel company unveiled its annual numbers, with analysts citing "reassuring" earnings, despite a "cautious stance" for 2019.
TUI AG's underlying EBITA rose by 4.1% to 1.15 billion euros for the year ended 30 September, on turnover that increased by 5.3% to 19.5 billion euros.
The group's net attributable income rose to 732 million euros, from 645 million euros last year, the travel group said.
France's Oddo BHF said in a report that these figures are "broadly in line with estimates."
The Paris-based broker - which has a "neutral" rating on the stock - sees a "cautious message" for 2019.
"The management remain cautious on 2019 for the market and airlines division, expecting very challenging market conditions in first-half 2018-2019," it noted.
TUI AG shares were up over 5% at 11 am CET, outperforming a 0.7% rise in the STOXX Europe 600 Travel & Leisure index.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
TUI AG's underlying EBITA rose by 4.1% to 1.15 billion euros for the year ended 30 September, on turnover that increased by 5.3% to 19.5 billion euros.
The group's net attributable income rose to 732 million euros, from 645 million euros last year, the travel group said.
France's Oddo BHF said in a report that these figures are "broadly in line with estimates."
The Paris-based broker - which has a "neutral" rating on the stock - sees a "cautious message" for 2019.
"The management remain cautious on 2019 for the market and airlines division, expecting very challenging market conditions in first-half 2018-2019," it noted.
TUI AG shares were up over 5% at 11 am CET, outperforming a 0.7% rise in the STOXX Europe 600 Travel & Leisure index.
Copyright (c) 2018 CercleFinance.com. All rights reserved.