TUI Group reports record revenue for 2023

TUI Group has reported record revenue for the full year 2023, climbing by 25% to €20.7bn (US$22.32bn), up from 2022’s total of €16.5bn (US$ 17.79bn). The underlying Group earnings before income and tax has also risen from €409 to 997 million (US$409 to $1,074 million), with CEO Sebastian Ebel commenting: “the transformation is taking effect”. Alongside a strong operating performance across the ‘holiday experiences’ segment, the Group’s markets and airlines segment also reported a positive EBIT for the first time post-pandemic – €241 million (US$260m) compared to 2022’s €59 million (US$63.6m). Net debt was ‘significantly reduced’ by €1.3bn (US$1.4bn), standing