TUI AG says that according to its preliminary earnings estimate for the 2007 financial year, the group earned from continuing operations (underlying EBITA) EUR616 million (US$936.2 million), an increase of 47 per cent year-on-year, compared to earnings of EUR419 million for the previous year.
Earnings (underlying EBITA) rose by 121 per cent to EUR197 million, up from EUR89 million a year earlier. The container shipping division, Hapag Lloyd, contributed to the increased earnings.
This is despite turnover from the shipping division, which comprises container shipping and the cruise business, slightly decreasing by one per cent to EUR6.2 billion, down from EUR6.3 billion in 2006.
Group turnover for continuing operations grew by almost seven per cent to EUR21.9 billion, up from EUR20.5 billion the previous year, said a statement from the Anglo-German shipping and tourism group.
TUI AG said it will publish detailed information on the 2007 financial year and fourth quarter earnings on March 18.