In the current 2021/22 financial year, sales should increase significantly and the adjusted operating result (EBIT) should improve significantly. The debt burden should also decrease.
“We remain confident that what we have done over the past two years will work out,” CFO Sebastian Ebel told the Brsen-Zeitung (BZ). The positive cash flow development in the third and fourth quarters of the past financial year is very encouraging.
With a view to the desired reduction in debt, Ebel said, “We are still concerned about securing our liquidity. But the focus is now more on bringing the operating result and cash flow forward.”
In order to achieve significant improvements here, the group intends to “restrain its own investments in the coming years” and continue to implement the efficiency program. In the pandemic, however, not only cost reductions are important. “We want to continue to grow, but in a smart and capital-saving manner,” says Ebel.
TUI intends to invest with partners in joint ventures or, in the future, via hotel funds. With a view to the capital increases in January and October last year and the issue of a convertible bond in 2021, Ebel says that they want to be “prepared for other measures that we are not planning yet”. First of all, it is important “that we deliver operationally what the market expects, and maybe a bit more”.
FRANKFURT (Dow Jones)
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