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Hapag-Lloyd Cruises drove up TUI AG’s cruise operation EBITA in first quarter

Cruise operations of TUI AG, the German travel company that is listed in London, benefitted from a good performance of is Hapag-Lloyd Cruises unit, but was variance in the performance of its three cruise brands in terms of operating result (EBITA).

Turnover in the group's cruise business rose by just 0.4% to €193.0 million, but underlying EBITA rose by 25.3% to €47.0 million, mainly due to a strong performance of the luxury and expedition market unit Hapag-Lloyd Cruises.

Its average daily rate rose by 10.9% to €591 and outpaced both the UK focused Marella Cruises’ 6.2% rise, to €137, and the flat figure of TUI Cruises, of  €149.

TUI Cruises, in which TUI AG has a 50% stake, had 8.3% more passenger days than in the first quarter of its previous financial year, while Hapag-Lloyd Cruises experienced a deduction of 5.1% in its corresponding figure.

“In Cruises, the strong demand continues for TUI Cruises, Marella Cruises and Hapag-Lloyd Cruises, as we look forward to our ship launches in 2019 and beyond. Looking ahead, load factor and yield performance are in line with our expectations, and re ect the additional capacity coming to market,” TUI AG said in a statement.

 

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