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TUI cruise segment boosts EBITDA 34% in Q1

(Photo: TUI AG)
CEO Friedrich Joussen delighted with 9.1% increase in turnover for TUI AG
TUI AG's cruise segment—comprised of Marella Cruises, TUI Cruises and Hapag-Lloyd Cruises—recorded a 33.5% increase in earnings before interest, taxation and amortization in the first quarter, to €37.5m, up from €28.1m the year before.

The outlook for TUI AG's summer season is 'very good' and meeting expectations. Particular booking strength is seen for Greece, Turkey and Cyprus.

TUI CEO Friedrich Joussen was delighted with the overall group's Q1 performance as turnover climbed 9.1% and customer numbers increased 4.4% year-on-year.

In the cruise segment, underlying EBITA in constant currency grew 34.5% to €37.8m. Average per diem for TUI Cruises rose to €149, up from €143, while APD for Marella Cruises went to £129 from £122. At Hapag-Lloyd Cruises, however, APD was €533, down from €549.

Average occupancy was 98.9%, compared to 99.5%, in the prior year for TUI Cruises; 101% versus 101.2% for Marella and 75.5%, up from 71.3%, for Hapag-Lloyd Cruises.

The group's cruise segment will grow this year with the addition of Mein Schiff 1 for TUI Cruises in May.

As reported, a further newbuild was just announced, for 2023 delivery.