TUI forecasts moderate increase in revenues for 2026

LONDON - Europe's largest tour operator TUI (TUI1n.DE) on Wednesday gave a more conservative outlook for 2026 than the market had expected, citing the current trading environment and prevailing macroeconomic and geopolitical uncertainties.

For 2026, the company expects its revenue to increase by 2% to 4% and underlying operating profit to rise by 7% to 10%, meaning it will not sustain growth from 2025 as markets have assumed.

Shares were down 2.8% in early trading.

TUI in November reported preliminary full-year results for 2025 above its own guidance, citing strong performance in the cruise and hotel sectors. Still, it acknowledged challenges in some of its markets.

Despite positive growth in the cruises and hotels sectors, the results showed an overall weaker performance in 2025 for much of the group's airlines segment throughout Europe.

"Our goal is clear: we want to grow globally with our own differentiated products and thus become independent of the challenging European market environment," Chief Executive Sebastian Ebel said in a statement.

"All segments will become even more profitable and efficient in the future."

Underlying earnings before interest and taxes for its fiscal year, which ended on September 30, came in at 1.46 billion euros ($1.70 billion) at constant currencies, up 12.6% from a year earlier and ahead of TUI's targeted rise of between 9% and 11%.

TUI has struggled with weakness in its core German market but has managed to bolster its results by focusing on making its offer more international and emphasizing its more profitable businesses.