TUI continues to expect a successful full year 2025 and confirms its targets and guidance after strong nine months. The Group achieved its best result to date1 in the third quarter (April to June). Group revenue amounted to 6.2 billion euros (previous year: 5.8 billion euros).

TUI Group CEO Sebastian Ebel: "The third quarter and the first nine months of the financial year 2025 were strong. Our strategy is paying off. We are benefiting from our integrated and diversified business model and managed to reduce the Group's seasonality further. All this in a continuing challenging environment for our M+A segment with economic difficulties in Europe, Europe-wide heat waves in the summer and the conflict in the Middle East. We are accelerating the transformation of the Markets + Airline segment (tour operator, retail and TUI Airline) by implementing standardised, global platforms that generate profitable growth and reduce our cost base. This means that we can offer our existing and new customers more products in more destinations – globally. At the same time, the number of our source markets is growing. Individuality, flexibility and the proven security of the gold standard in package holidays are at the forefront of our efforts. We continue to rely on the proven sales strength of our own and partner travel agencies. To this end, we are further expanding our app offering. In May, we launched the TUI Tours platform in the German market. The platform enables customers to seamlessly personalise multi-day trips in real time and combine all our travel components. The FIT (Flexible Independent Travel) market is one of the fastest-growing segments in the travel industry. It is worth around 20 billion euros in our core markets, with a significant share in Germany. In the future, TUI Tours will also be rolled out in other markets. In the Holiday Experiences segment, the focus is on our asset-right strategy, which will enable us to further expand our highly profitable hotel portfolio, primarily in Africa but also in Asia. The strategy is to build destination clusters in line with TUI's strengths. In the Cruise segment, TUI Cruises expects another InTUItion Class vessel next year.“

Mathias Kiep, TUI Group CFO: “We were able to slightly reduce the Group’s net debt in this financial quarter. After regaining BB ratings, we successfully placed a 250 million euros promissory note loan in July 2025. The proceeds from the transaction will be used to repay aircraft leasing agreements ahead of schedule and to take legal ownership of the assets. This improves our operational efficiency, financing conditions and the Group's cash flow. A pleasing development."

Development in the third quarter of 2025

At 321 million euros, TUI Group's underlying EBIT grew significantly in the third quarter (previous year: 232 million euros). The best Q3 result to date1 was driven by the record result in the Holiday Experiences segment and the shift of the Easter business from the second to the third quarter in the Markets + Airline segment.

In the Holiday Experiences segment (Hotels & Resorts, Cruises and TUI Musement), the Hotels & Resorts division has seen a strong operating performance and achieved an underlying EBIT of 131 million euros, in line with the record result in the previous year, despite the impact of revaluation effects of approximately 15 million euros. The number of available bed nights totaled 11.2 million, in line with the previous year. Notably occupancy increased by +2 percentage points to 82 per cent. Average daily rates were up 3 per cent to 88 euros in the reporting period.

The Cruises segment continued its strong operating performance and posted a record result in the third quarter of 2025. Underlying EBIT increased to 143 million euros (previous year: 91 million euros). Strong demand for TUI's differentiated cruise offering in both Germany and the UK contributed to an increase in prices and high overall capacity. Available passenger cruise days on the TUI fleet rose by 33 per cent to 3.1 million. This significant increase was mainly driven by the two new TUI Cruises ships, Mein Schiff 7 and Mein Schiff Relax. In addition, the disruptions caused by the Suez Canal blockage in the previous year were avoided. All 18 ships were fully in operation in the period under review.

TUI Musement also improved its previous year's result, supported by growth in both the experiences business and transfers for tour operator guests in destinations. 3 million experiences were sold in the reporting period. This represents an increase of 8 per cent. Own experiences – including TUI Collection excursions and National Geographic day tours – are a key differentiator. Here, too, sales improved by 6 per cent to 1.7 million experiences sold. The number of transfers increased by 1 per cent to 8.8 million. Underlying EBIT for the segment was therefore 21 million euros (previous year: 19 million euros).

As expected, the Markets + Airline segment (tour operator, retail and TUI Airline) benefited from the shift of the Easter business to the third quarter and strong customer demand. Underlying EBIT amounted to 50 million euros (previous year: 16 million euros). A total of 5.9 million customers travelled with TUI in the reporting period between April and June (previous year: 5.8 million). This included a strong increase of 14 per cent to 1 million for dynamically packaged products, which offer customers more choice and flexibility. The average flight load factor remained at the high level of the previous year in all markets at 94 per cent.

The transformation of the Markets + Airline segment was further accelerated, and the expansion of standardised and global platforms is being driven forward in order to generate growth and reduce the cost base. TUI is focusing on expanding its own app, complementing the retail business and enabling greater cross-selling and upselling opportunities as well as personalised marketing. The results for the various regions reflect the pure tour operator and flight business. Income from hotels is not included in the tour operator results. These figures are included in the Hotels & Resorts result.

In the Central Region, which includes tour operators in Germany, Austria, Switzerland and Poland, underlying EBIT amounted to 25 million euros (previous year: 21 million euros). In the Northern Region, which includes the UK, Ireland and the Nordic countries, underlying EBIT amounted to 45 million euros (previous year: 14 million euros). Underlying EBIT for the Western Region, which includes the Netherlands, Belgium and France, amounted to -21 million euros (previous year: -19 million euros).