TUI AG · XETR:TUI1
TUI — UniCredit/Kepler Cheuvreux German Corporate Conference 2016
70 slides from TUI's conference presentation, Jan 18, 2016
Slide 1: UniCredit/Kepler Cheuvreux German Corporate Conference
UniCredit/Kepler Cheuvreux German Corporate Conference 18-19 January 2016
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains a number of statements related to the future development of TUI. These statements are based both on assumptions and estimates. Although we are convinced that these future-related statements are realistic, we cannot guarantee them, for our assumpt
Slide 3: Agenda
Agenda 1 TUI Group Overview 2 Delivering Growth 3 Financial Year 2014/15 & Outlook 4 Appendix 3 TUI GROUP | Investor Presentation | 18-19 January 2016
Slide 4: TUI Group – The World’s Leading Tourism Business
TUI Group – The World’s Leading Tourism Business Access to over 20m customers Modern & efficient leisure airline Attractive global hotel portfolio Growing fleet of cruise ships Key figures 2014/15: Turnover €20.0bn; Underly. EBITA €1,069m; DPS €0.56 4 TUI GROUP | Investor Presentation | 18-19 Januar
Slide 5: Strong positions in all parts of the value chain
Strong positions in all parts of the value chain • Control over content - especially accommodation - is key to achieving differentiation from the competition and to delivering growth Integrated platforms • Vertical integration offers significant margin and medium-term cash flow upside Integrated man
Slide 6: A clear structure to deliver growth and value
A clear structure to deliver growth and value Tourism Specialist Travel Source Markets Hotels & Resorts Cruises Hotelbeds Group Specialist Group Tour operator Hotelportfolio Cruise ship fleet B2B Online Specialist & activity • Travel Agencies • 310 hotels • 13 cruise ships across accommodation** com
Slide 7: What we want to achieve – our growth levers
What we want to achieve – our growth levers Deliver Tourism Growth Marketing & Flight Inbound Accommodation Integrated platforms Unparalleled Sales Service Integrated management customer proposition Maximise Growth & Value of our other businesses Deliver Merger Synergies Increased shareholder Balanc
Slide 8: TUI Brand
TUI Brand Hotel & club Exclusive Cruise Lines brands international hotel concepts Clear brand strategy supports our growth plans 8 TUI GROUP | Investor Presentation | 18-19 January 2016
Slide 9: Brand migration process
Our brand migration process* will make sure that we don’t lose local brand equity NL Phased approach Phase 1 allows transfer of FR Introduce TUI best practice and enables us to BE minimise risk Nordics Phase 2 UK Supporting Workstreams Airline rebranding, destination & airport rebranding, external &
Slide 10: Delivering Brand Growth
Delivering Brand Growth €m Brand turnover growth* 6.7% • With our TUI brand, we will deliver profitable 23.000 top-line growth which outperforms the market 21.000 • In 2014/15, turnover from TUI subsidiaries grew by 3.6% - however, a significant level of additional 19.000 growth is generated by our
Slide 11: Strengthen local P&Ls, build on world-class global platforms
Strengthen local P&Ls, build on world-class global platforms Northern Region Central Region Western Region €530m EBITA, 7.6% margin €104m EBITA, 1.8% margin €69m EBITA, 2.4% margin 91% direct distribution 44% direct distribution 68% direct distribution 58% online distribution 15% online distribution
Slide 12: Central Platform
Europe’s 7th largest airline fleet Industry-leading rates of asset utilisation Central platform with local airlines One organisational structure Central Platform 8 aircraft 60 aircraft Business model / ways of working 9 aircraft 30 aircraft Scale: one procurement organisation / common supply chain &
Slide 13: Our Inbound service team
Our Inbound service team Delivering our differentiation strategy One organisation in all destinations Over 6,500 11m 109 employees customers destinations Customer Sales Service experience Increase NPS and CSQ Increase sales & margin Transport Excursions Transfers Handling People Cost engagement Bein
Slide 14: Growth in Our Strong Hotel and Club Brands
Growth in Our Strong Hotel and Club Brands Hotels Clubs Capital Continue to grow the Launch new TUI Markets branded hotels & Expand and internationalise the club concept highly profitable brand resposition existing Update Opened 4 new resorts Operational trial 1 new club 2 new clubs Mauritius, Aruba
Slide 15: Growth in our Powerful & Exclusive International Hotel Concepts
Growth in our Powerful & Exclusive International Hotel Concepts • Differentiates our local market offering Luxurious (5* only) family- Upscale modern family resorts • Earlier bookings Adult-only 4&5* seafront friendly hotels, exceptional (4* and above) first class hotels ; contemporary styling welln
Slide 16: Cruise growth plans take into account UK fleet requirements
Cruise growth plans take into account UK fleet requirements Mein Mein Mein Mein Mein Mein Mein Mein Schiff 1 Schiff 2 Schiff 3 Schiff 4 Schiff 5 Schiff 6 Schiff 7 Schiff 8 Berths 1,924 1,924 2,500 2,500 2,500 2,500 2,860 2,860 Year of 1996 1997 2014 2015 2016 2017 2018 2019 construction MS1 and MS2
Slide 17: Conquering Destinations - Our long-haul presence
Conquering Destinations - Our long-haul presence Over 1m customers Over 40 group hotels Range of cruise routes 13 x 787s (S15) (source markets, accommodated) USA Caribbean Mexico & Middle East Asia & India C.America Indian Ocean Australia Our targets • >50% growth in source market customers over • N
Slide 18: Integrated Platforms - Focus on Customer Experience
Integrated Platforms - Focus on Customer Experience Central Mobility Platform Central Customer Platform • Increasingly mobile first • SAP solution: • Key driver of customer engagement at every stage • Single view of the customer of the journey • Contact management • Over 1 million downloads to date
Slide 19: Hotelbeds Group Business Overview – Strategic Review Process
Maximise Growth and Value of our other businesses Hotelbeds Group Business Overview – Strategic Review Process Products Availability and price Platform Book online Customers c.70k hotels >31k B2B customers Source markets Travel Agencies OTAs Airlines Other Business overview Strategic review • #1 glo
Slide 20: Deliver Merger Synergies
Deliver Merger Synergies 1 2 Corporate Cash tax streamlining benefits Uplifted by €5m to €50m* Significant 7% point reduction in ETR** synergy 3 potential 4 Increased occupancy from Inbound Services vertical integration cost savings Each 1% point increase equivalent to €6m EBITA* At least €20m* * Sy
Slide 21: Financial policy: Disciplined Approach to Capital Allocation
Financial policy Disciplined Approach to Capital Allocation • Investment in accommodation - the key differentiator in customer experience and a significant opportunity for growth Investing in growth • Investment in online distribution, inventory management and customer/CRM systems to drive profitabl
Slide 22: New Financial Targets 2015/16
Financial policy New Financial Targets 2015/16 • Current corporate credit ratings “BB-” (S&P) and “Ba3” (Moody’s) • We are committed to improving our credit metrics, therefore we are setting new financial targets for 2015/16 as follows: Ratio Target 2015/16 Actual 2014/15 Leverage ratio 3.5 to 2.75
Slide 23: Outperformance in 2014/15
Outperformance in 2014/15 €m FY 13/14 FY 14/15 % Turnover 18,537 20,012 +8.0% / +3.6%* Underlying EBITA 870 1,069 +22.9% / 15.4%* Reported EBITA 777 865 +11.3% Group result 90 340 +277.8% (after min.) DPS (€) 0.33 0.56 +69.7% * At constant currency rates 23 TUI GROUP | Investor Presentation | 18-19
Slide 24: Winter 2015/16 and Summer 2016
Winter 2015/16 and Summer 2016 • Winter 2015/16 • Source Market bookings flat, average selling prices up 4% • Good growth in UK bookings, up 4%, driven by long-haul • Netherlands bookings up 7% following TUI brand launch • German market environment remains challenging • Pleased with cruise booking a
Slide 25: Outlook 2015/16
Outlook 2015/16* €m 2014/15 2015/16 e Brand Turnover €22,584m At least 5% growth Turnover €20,012m At least 3% growth Underlying EBITA €1,069m At least 10% growth SDIs (including PPA) €204m ~€180m Net capex & €655m ~€750m investments Net debt €214m ~€0.5bn * At constant currency rates and based on c
Slide 26: Progressive dividend policy
Progressive dividend policy Based on underlying earnings growth 5.1 cents 6.9 cents 5.1 cents Additional 10% 4.5 cents Base 56 cents 51.4 cents 44.5 cents 2014/15 2015/16 indicative only Progressive dividend policy which reflects underlying growth in earnings 26 TUI GROUP | Investor Presentation | 1
Slide 27: The World‘s Leading Tourism Business
The World‘s Leading Tourism Business • Resilient, integrated business model • Merger integration ahead of our original plan – we are working well together • Delivering strong financial performance with exciting growth prospects • Profitable top-line growth >3% • FY 16 underlying EBITA guidance of at
Slide 28: Appendix
Appendix 28 TUI GROUP | Investor Presentation | 18-19 January 2016
Slide 29: One Year On from the Merger
One Year On from the Merger Strategy and growth Outperformed our Resilience of business roadmap clearly defined earnings guidance for model demonstrated at Capital Markets 2014/15 once again Update in May Integration and delivery Balance sheet strength Strong earnings growth of merger synergies and
Slide 30: Outperformance in 2014/15
Outperformance in 2014/15 Turnover: €20.0bn • Increase in turnover driven by higher customer volumes +8.0% / +3.6%* and improved yields in our Tourism businesses Underlying EBITA: €1,069m • Outperformance against our earnings guidance for the +22.9% / 15.4%* year Underlying EBT: €885m • Strong growt
Slide 31: Turnover by Segment
Turnover by Segment (excludes intra-group turnover)* 2013/14 Change ex In €m 2014/15 Change FX Restated FX Northern Region 7,014.9 6,200.8 814.1 517.5 296.6 Central Region 5,601.8 5,426.0 175.8 25.7 150.1 Western Region 2,903.4 2,970.2 -66.8 2.0 -68.8 Source Markets 15,520.1 14,597.0 923.1 545.2 377
Slide 32: Underlying EBITA by Segment
Underlying EBITA by Segment* 2013/14 Change ex In €m 2014/15 Change FX Restated FX Northern Region 530.3 398.3 132.0 48.1 83.9 Central Region 103.5 163.0 -59.5 1.0 -60.5 Western Region 68.8 81.7 -12.9 0.1 -13.0 Source Markets 702.6 643.0 59.6 49.2 10.4 RIU 261.1 181.3 79.8 11.7 68.1 Robinson 41.7 31
Slide 33: TUI Group Underlying EBITA Bridge 2014/15
TUI Group Underlying EBITA Bridge 2014/15 in €m Corporate streamlining €10m 1.7% point occupancy increase €10m 65 20 12 -52 14 16 124 UK €7m Benelux €2m 1,069 Hotels €43m 1,004 (includes €17m prepayments provision) 870 2013/14 Underlying Merger Tunisia Riu Waikiki Europa 2 Debt/finance 2014/15 pre F
Slide 34: Source Markets: Strong growth in Northern Region
Source Markets Strong growth in Northern Region Turnover and Earnings (€m) Bridge Underlying EBITA (€m) 14/15 13/14 % -60 84 49 -13 Turnover 15,520.1 14,597.0 6.3 703 643 654 Underlying EBITA 702.6 643.0 9.3 2013/14 Northern Central Western 2014/15 FX 2014/15 Region Region Region pre FX translation
Slide 35: Source Markets KPIs 2014/15
Source Markets KPIs 2014/15 Customers Direct Distribution Online Underly. EBITA y-o-y (%) (`000) y-o-y (ppts) (%) y-o-y (ppts) (%) y-o-y (€m) (€m) Northern Region 2 6,943 0 91 2 8581 132 530 Central Region 1 7,168 5 44 3 15 -59 104 Western Region 2 5,031 2 68 3 48 -13 69 Source Markets 2 19,142 2 70
Slide 36: Source Market KPIs
Source Market KPIs* Direct Distribution Online Distribution Customers (000) 14/15 13/14 14/15 13/14 14/15 13/14 UK 92% 91% 54% 51% 5,476 5,223 Nordics 90% 90% 72% 70% 1,468 1,557 Germany 43% 37% 13% 11% 6,258 6,192 Benelux 70% 68% 52% 49% 4,245 4,027 Total Source Markets 70% 68% 41% 38% 19,142 18,84
Slide 37: Trading Update Winter 2015/16
Trading Update Winter 2015/16 Current trading1 Programme Customers2 ASP2 Sales2 y-o-y variation (%) sold Northern Region 2 4 6 57% UK 4 2 6 51% Nordics -2 8 6 72% Central Region Flat 5 5 69% Germany -1 5 4 70% Western Region -2 1 -1 54% Benelux -1 2 1 54% Total Source Markets Flat 4 4 60% Hotelbeds
Slide 38: Hotels & Resorts: Strong underlying performance
Hotels & Resorts Strong underlying performance Turnover and Earnings (€m) Bridge Underlying EBITA (€m) 14/15 13/14 % 12 -53 68 5 Total Turnover 1,252.2 1,164.5 7.5 o/w Turnover 3rd party 574.8 515.9 11.4 230 235 203 Underlying EBITA 234.6 202.8 15.7 o/w Equity result 44.0 40.7 8.1 2013/14 RIU Robins
Slide 39: Hotels & Resorts KPIs 2014/15
Hotels & Resorts KPIs 2014/15 Capacity1 Revenue/bed2 Occupancy3 Underly. EBITA4 y-o-y (%) (`000) y-o-y (%) (€) y-o-y (ppts) (%) y-o-y (€m) (€m) 0 17,272 13 57.1 1 81 85.9 80 261 2 2,898 2 90.7 -2 72.6 11 42 5 2,485 5 43.6 9 67.1 Other (incl former TUI -59 -68 Travel Hotels) TUI H&R 1 23,973 9 59.1 2
Slide 40: Hotel Growth Delivered in 2014/15
Hotel Growth Delivered in 2014/15 Aruba, Mauritius, Djerba 7 new resorts in our key Bulgaria, Germany hotel & club growth brands Trial in Sarigerme Ibiza and Rhodes (Turkey) 4 new concept resorts in Cyprus (Atlantica) Portugal (Nordotel) Group hotels Turkey (Barut) Croatia (Karisma) Exited Grecotel
Slide 41: Hotels & Resorts Summary 2014/15
Hotels & Resorts Summary 2014/15 Hotel beds by region Other countries Western Mediterranean Key facts Eastern Mediterranean 8% Total Turnover (€m) 1,252 26% 24% o/w Turnover 3rd party (€m) 575 Underlying EBITDA (€m) 343 19% 23% Caribbean Underlying EBITA (€m) 235 North Africa/ Egypt o/w Equity resul
Slide 42: Hotels & Resorts Profit analysis 2014/15
Hotels & Resorts Profit analysis 2014/15 Owned & leased hotels* Capacity Occupancy Rate Bed revenue 160 36,491 x 78.5% x 54.90€ = €1,572m o/w fully o/w €m Bed revenue F &B Other Total consolidated associated Turnover owned & leased 1,572 70 233 1,875 1,252 623 o/w turnover internal 677 o/w turnover
Slide 43: RIU – Key figures 2014/15
Hotels & Resorts RIU – Key figures 2014/15 In €m o/w RIUSA II o/w Riu Hotels Riu in Riu 100%-view* Total (fully consolidated) (consolidated at equity) TUI accounts Turnover 993 716 277 716 Underlying EBITA 327 227 100 261 EBITA-Margin 33% EAT 249 178 71 o/w EAT to TUI (50%) 122 88 34 122 ROIC (incl.
Slide 44: RIU Portfolio
RIU Portfolio Eastern Med.: 2 hotels Western Med.: 35 hotels 100% 60% Germany 14% 17% 9% M O L F M O L F Bulgaria Portugal Turkey USA Spain Bahamas Cuba Mexico St. Martin Dom. Rep. Jamaica Costa Rica Cape Verde Mauritius Panama Morocco Aruba Tunisia Caribbean: 37 hotels North Africa: 18 hotels Other
Slide 45: Hotels & Resorts Robinson
Hotels & Resorts Robinson €m Robinson in TUI accounts* 14/15 13/14 Turnover 192 192 Underlying EBITA 42 31 EBITA-Margin 22% 16% EAT (100% TUI) 12 15 ROIC 14% 10% Robinson Club Maldives Hotel beds by region (%) Financing structure (%) 12% 22% 30% Western Med. Management 42% Total North Africa 24 14,4
Slide 46: Robinson Portfolio
Robinson Portfolio Austria Germany Greece Switzerland Western Med.: 6 clubs Turkey Portugal 83% Eastern Med.: 6 clubs Spain Italy 17% 50% 50% M O L F Morocco M O L F Tunisia Egypt Maldives Other: 9 clubs 56% North Africa: 3 clubs 22% 22% 33% 33% 33% M O L F M O L F M = Management; O = Ownership; L =
Slide 47: Cruises: Growth in TUI Cruises; Turnaround at Hapag-Lloyd Kreuzfahrten
Cruises Growth in TUI Cruises; Turnaround at Hapag-Lloyd Kreuzfahrten Turnover and Earnings (€m) Bridge Underlying EBITA (€m) 14 14/15 13/14 % 20 Turnover HLKF 273.3 281.0 -2.7 81 Memo: TUI CruisesTurnover 614.1 381.3 61.1 37 67 Underlying EBITA 80.5 9.7 729.9 10 o/w TUI Cruises* 68.1 31.3 117.6 201
Slide 48: Cruises KPIs 2014/15
Cruises KPIs 2014/15 Passenger cruise Average daily rate Occupancy Underly. EBITA days y-o-y (%) (´000) y-o-y (%) (€) y-o-y (ppts) (%) y-o-y (€m) (€m) 59 68* 2,678 1 173 0 102.7 37 -13 19 348 536 8 76.2 34 13 Growth driven by TUI Cruises; Hapag-Lloyd Kreuzfarten turnaround complete * Equity result 4
Slide 49: TUI Cruises Key Figures - 100% View
TUI Cruises Key Figures - 100% View * TUI Cruises 100%* 14/15 13/14 % Turnover 614 381 61% Underlying EBITA 156 78 102% EBITA-Margin 25% 20% EAT 136 63 116% o/w TUI EAT (50%) 68 31 119% ROIC 10% 10% ROE 26% 14% * unaudited figures 49 TUI GROUP | Investor Presentation | 18-19 January 2016
Slide 50: Strong growth continues in German cruise market
Strong growth continues in German cruise market Cruise Penetration Rates 2014 • German market scores well on drivers of cruise demand (age, personal wealth, 3.4% 2.4% available time) 2.2% North America UK Germany • Cruise penetration rate in Germany Market Size (pax millions) remains lower than the
Slide 51: Specialist Travel
Specialist Travel Hotelbeds continues to grow, Specialist impacted by PEAK exit Turnover and Earnings (€m) Bridge Underlying EBITA (€m) 3 11 12 14/15 13/14 % Turnover 3,062.2 2,625.2 16.6 162 173 147 Underlying EBITA 173.0 147.2 17.5 2013/14 Hotelbeds Specialist 2014/15 pre FX 2014/15 Group Group FX
Slide 52: Destination Update – Tunisia & Egypt
Destination Update – Tunisia & Egypt Tunisia Egypt • Adverse travel advice to tourist resorts from • Adverse travel advice to Sharm el Sheikh UK, Netherlands and Belgium airport from all major Source Markets • Tour operator capacity therefore reduced for • Tour operator programme (2014/15) Winter 20
Slide 53: Egypt & Tunisia
Egypt & Tunisia Tunisia Hotel Portfolio Tunisia (number of hotels, September 2015 – note that management contracts have since been exited) Tunisia Passenger Mix 6 10 24 hotels 10 • Tunisia was ~3% of c8k rooms 14 5 c16k beds tour operator 2 1 programme in FY14 (pre-incident year) RIU Magic Life TTH
Slide 54: Income Statement
Income Statement Adjustments €204m comprise PPA (€76m), 2013/14 merger-related costs (€47m), other In €m 2014/15 restated restructuring costs (€26m), value adjustment Turnover 20,011.6 18,536.8 for a VAT receivable (€19m) and provision Underlying EBITA 1,069.0 869.9 for a pending litigation (€16m) A
Slide 55: Adjustments (Separately Disclosed Items)
Adjustments (Separately Disclosed Items) €m 2014/15 Restructuring expense 65 Gains on disposals -5 Other one-off items 68 PPA 76 Total Adjustments 204 o/w merger-related 47 2015/16 adjustments expected to be ~€180m* * At constant currency rates 55 TUI GROUP | Investor Presentation | 18-19 January 20
Slide 56: Delivery of Merger Synergies well on track
Delivery of Merger Synergies well on track In €m Per 2.7 Announcement Per Capital Markets Update Realised to Date May 2015 Synergies One-off Synergies One-off Synergies One-off costs to costs to costs to achieve achieve achieve Corporate 45 45 50 35 10 31 streamlining Occupancy 30 - 30 - 10 - improv
Slide 57: Net Interest Result
Net Interest Result €m 2014/15 2013/14 restated Debt related interest -135 -186 Non-debt related charge -72 -66 Interest income 23 28 Net interest result 184 224 o/w cash interest 73 116 2015/16 interest expected to be ~€170m (o/w ~50% is cash)* * At constant currency rates 57 TUI GROUP | Investor P
Slide 58: Earnings Per Share (continuing operations)
Earnings Per Share (continuing operations) In €m Reported Proforma* 2014/15 2013/14 2014/15 2013/14 EBITA 865 777 1,069 870 Includes adjustment for convertible bond Net interest expense -184 -224 -165 -116 interest H-L AG book value adjustment and equity result -146 -54 - - Underlying effective EBT
Slide 59: Cash Flow
Cash Flow 2013/14 In €m 2014/15 restated EBITA reported 865 777 Depreciation 553 396 Working capital -83 443 At equity income -144 -81 Dividends received from JVs and associates 81 38 Other cash effects -230 -249 Tax paid -148 -189 Interest (cash) -73 -116 UK pension contribution -123 -81 Operating
Slide 60: Cash Flow Net Capex & Investments Analysis
Cash Flow Net Capex & Investments Analysis 13/14 In €m 14/15 restated Gross capex by Sector Gross capex (incl. debt financed aircraft) -594 -386 Other Source Markets / Capex divestments 105 101 Hotelbeds Other Tourism Net capex -489 -285 Specialist Net investments -170 -377 Pre-delivery payments (PD
Slide 61: Strong ROIC track record by RIU, Robinson & TUI Cruises
Strong ROIC track record by RIU, Robinson & TUI Cruises * 26% 20% 17% We remain 16% committed 14% 14% to at least 15% ROIC 10% 10% on new investments 6% 2012/13 2013/14 2014/15 * ROE 61 TUI GROUP | Investor Presentation | 18-19 January 2016
Slide 62: Movement in Net Debt
Movement in Net Debt 30 Sep 2014 €m 30 Sept 2015 restated Opening net cash / (debt) 293 -97 Movement in cash net of debt -263 125 Foreign exchange movement -127 -136 Non cash movement in debt - Asset backed finance* -693 -167 Non cash movement in debt - Other 576 568 Closing net (debt) / cash -214 2
Slide 63: Net Financial Position
Net Financial Position 30 Sep 2014 €m 30 Sept 2015 restated Financial liabilities 1,887 1,965 o/w non-current 1,654 1,748 o/w current 233 217 Cash 1,673 2,258 Net (debt) / cash -214 293 Net debt balance expected to be ~€0.5 billion at 30.9.2016* * At constant currency rates, based on current group s
Slide 64: Financial Target Ratios 2014/15
Financial Target Ratios 2014/15 In €m 14/15 Gross debt 1,886 Pensions 1,147 NPV operating leases 3,540 Debt 6,574 Reported EBITDAR 2,219 Leverage Ratio 3.0 Reported EBITDAR 2,219 Rentals - interest component* 291 Net financial expense 184 Interest charges 473 Coverage Ratio 4.7 * Simplified estimate
Slide 65: Key Sources of Finance
Key Sources of Finance 30 September 2015 Interest % Instrument Issue Maturity Amount €m p.a. Revolving Credit Facility Sep 14 June 18 1,750 c2% margin above LIBOR High Yield Bond Sep 14 Oct 19 300 4.5 Finance leases Various Various 982 Various 65 TUI GROUP | Investor Presentation | 18-19 January 201
Slide 66: Aircraft Order Book Deliveries
Aircraft Order Book Deliveries 14/15 15/16 16/17 17/18 18/19 19/20 B737 NG 5 - - - - - B737-MAX - - - 5 14 14 B787-8 5 - - - - - B787-9 - 1 1 1 - - Firm order book deliveries 2015-2020 10 1 1 6 14 14 Financial Years (FY) ending 30 September; figures correct as at 30 September 2015 In addition to the
Slide 67: Aircraft Commitments by Financing Type
Aircraft Commitments by Financing Type Operating Lease* Finance Lease Owned Total As at 30 September 2014 128 11 6 145 3 2 x B737-800 6 1 10 Order book financing 3 x B737-800 4 x B787-8 1 x B787-8 (debt financed) Reclassification - (2) 2 - Disposal - - (1) (1) Other net movements (7) - - (7) As at 3
Slide 68: Pioneering Sustainability
Pioneering Sustainability New 2020 Sustainability Strategy TUI Credentials • TUI will influence, innovate and invest in more • TUI airlines are leading the way with carbon-efficiency - 66g sustainable tourism: of CO2 per revenue passenger kilometre across TUI airlines in FY2015 • Step lightly: We wi
Slide 69: Financial Calendar
Financial Calendar 2016 9 February 2016 Q1 Report and Annual General Meeting 31 March 2016 Pre-close trading update 11 May 2016 Q2 Report 2015/16 11 August 2016 9M Report 2015/16 28 September 2016 Pre-close trading update 8 December 2016 Annual Report for financial year 2015/16 69 TUI GROUP | Invest
Slide 70: Contact
Contact Germany: +49 (0) 511 566-1425 UK: +44 (0) 1293-645831 E-Mail: [email protected] Web: http://www.tuigroup.com TUI GROUP | Investor Presentation | 18-19 January 2016
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