Financial Highlights 2018

€ million		2018	2017	Var. %	Var. % at constant currency
Turnover		19,523.9	18,535.0	+ 5.3	+ 6.3

Underlying EBITA¹
Hotels & Resorts		425.7	356.5	+ 19.4	+ 38.7
Cruises		324.0	255.6	+ 26.8	+ 27.0
Destination Experiences		44.7	35.1	+ 27.4	+ 33.6
Holiday Experiences		794.4	647.2	+ 22.7	+ 33.8
Northern Region		254.1	345.8	– 26.5	– 27.4
Central Region		89.1	71.5	+ 24.6	+ 25.0
Western Region		109.3	109.2	+ 0.1	+ 0.1
Markets & Airlines		452.5	526.5	– 14.1	– 14.6
All other segments		– 99.9	– 71.6	– 39.5	– 31.4
TUI Group		1,147.0	1,102.1	+ 4.1	+ 10.9
Discontinued operations		–	– 1.2	n. a.	–
Total		1,147.0	1,100.9	+ 4.2	+ 11.0

EBITA^{2, 4}		1,060.2	1,026.5	+ 3.3	+ 10.4
Underlying EBITDA⁴		1,563.9	1,541.7	+ 1.4
EBITDA⁴		1,498.5	1,490.9	+ 0.5
EBITDAR⁴		2,219.9	2,240.9	– 0.9

Net profit for the period		780.2	910.9	– 14.3
Earnings per share⁴	€	1.18	1.36	– 13.2
Equity ratio (30 Sept.) ³	%	27.8	24.9	+ 2.9
Net capex and investments (30 Sept.)		827.0	1,071.9	– 22.8
Net cash (30 Sept.)⁴		123.6	583.0	– 78.8
Employees (30 Sept.)		69,546	66,577	+ 4.5

Differences may occur due to rounding

This Annual Report of the TUI Group was prepared for the financial year (FY) from 1 October 2017 to 30 September 2018. The terms for previous years were renamed accordingly.
In FY 2018 we have adjusted our segmental reporting to reflect the growing strategic importance of the services delivered in our destinations. Destination Experiences is now reported separately in the segmental structure, and within Holiday Experiences together with Hotels & Resorts and Cruises. The further businesses of former Other Tourism and All other segments have been combined into All other segments. There are no changes to the total numbers. The prior year’s reference figures were restated accordingly.

¹ In order to explain and evaluate the operating performance by the segments, EBITA adjusted for one-off effects (underlying EBITA) is presented. Underlying EBITA has been adjusted for gains/losses on disposal of investments, restructuring costs according to IAS 37, ancillary acquisition costs and conditional purchase price payments under purchase price allocations and other expenses for and income from one-off items.

² EBITA comprises earnings before interest, taxes and goodwill impairments. EBITA includes amortisation of other intangible assets. It does not include the result from the measurement of interest hedges, and in the prior year did not include results from container shipping operations.

³ Equity divided by balance sheet total in %, variance is given in percentage points.

⁴Continuing operations

Key Financial Information

Financial Highlights 2018