CAPEX.com
CAPEX.com

Article Hero

TUI lost €1.42 billion due to the pandemic

1597317590.jpg
Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
It has been a difficult three months for TUI

The world’s largest leisure, tourism, and travel company, TUI AG, posted today its quarterly earnings. The figures that came in reflect the pandemic’s effect over the hospitality and travel sectors. 

For Q2, TUI’s net loss was of €1.42 billion. Last year it had a profit of €22.8 million. 

Its quarterly turnover figures came lower than the €837.8 million forecasted at €71.8 million. However, this year’s results are higher than last year’s €4.75 million. 

Impairments caused by the pandemic and the increased net costs from hedging contracts made the Germany-based London-stock-exchange-listed company post a loss before taxes and interest of €1.1 billion.  

To partially get back on its feet, TUI will receive from the German government a stabilization package worth €1.2 billion. 

At the moment of writing, TUI stock price lost 4.94%.

On CAPEX.com you can read about the latest earnings reports!

Sources: finance.yahoo.com, marketwatch.com 


This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

Share this article

How did you find this article?

Awful
Ok
Great
Awesome

Read More

Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.