TUI AG Q4 2025 Earnings Recap

TUI achieved record results in 2025, driven by strong EBIT growth and a successful shift towards an asset-light model focused on Holiday Experiences, while also reintroducing dividends to shareholders.

Key Takeaways

• Strong EBIT growth resulted from a robust performance in Hotels & Resorts and Cruises, with overall occupancy reaching 84% for hotels.
• The company continues to invest in M&A transformation, expecting a monetization phase that will help achieve a 3% EBIT margin target.
• Despite a decrease in Markets & Airlines results of approximately EUR 100 million, the company's strategic focus on its integrated ecosystem and AI is set to enhance profitability moving forward.
• TUI's unique customer base has expanded to 35 million, bolstering marketing efforts and improving retention rates.
• A new dividend policy was announced, marking a significant shift after years without dividend payments, reflecting the company's commitment to returning value to shareholders.