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TUI AG Q3 Profit Falls, Turnover Up 3.7%; Reiterates Guidance - Quick Facts

TUI AG (TUIFF.PK) reported that its third-quarter Group profit to shareholders declined to 21.7 million euros from 140.6 million euros, previous year. Earnings per share from continuing operations was 0.04 euros compared to 0.17 euros. The company's third-quarter was negatively impacted by the 737 MAX aircraft grounding. Underlying EBITA declined 46.0 percent to 100.9 million euros.

The company noted that its prior-year figures were adjusted due to retrospective application of IFRS 15.

Third-quarter turnover improved 3.7 percent to 4.75 billion euros.

For fiscal 2019, TUI AG reiterated its underlying EBITA guidance stated in the ad hoc announcement of March 2019. The company projects 737 MAX related costs of approximately up to 300 million euros for the current fiscal year.

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