The performance of cruise activities of TUI AG, the world’s largest tour operator, improved further in the second quarter and first half of its financial year.
Operating profit (EBITDA) rose to €16.3 million in three months to 31 March, the second quarter of the group’s financial year, from €5.1 million in the same period a year earlier. Revenues decreased to €82.7 million from €94.0 million.
In the six months to the end of March, EBITDA rose to €18.3 million from a figure negative by €3.4 million in the same period a year earlier. Revenues fell to €136.2 million from €149.2 million.
The revenue figures refer to Hapag-Lloyd Kreuzfahrten alone, as this company is 100% owned by TUI AG. However, the result figures also include TUI’s 50% stake in TUI Cruises.
Consequently. the decline in revenue was attributable to the decommissioning of Columbus 2 from the fleet in April 2014. no turnover is carried for TUI Cruises as the joint venture is measuredat equity in the consolidated financial statements.
There was significant improvement in operating performance of Hapag-Lloyd Kreuzfahrten and lower financing costs due to the purchase of Europa 2 of €5m. With the successful market launch of Mein Schiff 3 in the prior year, TUI cruises continued to expand its competitive position in the winter season and delivered a very successful performance in the first half of the financial year, the company said.
