TIDMTT.
RNS Number : 2926N
TUI Travel PLC
27 September 2012
27 September 2012
TUI Travel PLC
("TUI Travel")
Trading Update
Prior to entering its close period ahead of reporting its
Preliminary results for the year ended 30 September 2012 on 4
December 2012, TUI Travel PLC announces the following update on
current trading.
Highlights
-- Remain on track to meet our full year expectations.
-- Strong trading for Summer 2012 high season, with improved margins
and load factors versus the prior year.
-- Encouraging start to Winter 2012/13 trading. Strong differentiated
product and online sales performance, particularly in the UK
and Nordics.
-- In A&D, Winter 2012/13 bookings are up 14% and sales (TTV) up
32% versus the prior year.
-- In the UK, early bookings for Summer 2013 are significantly outperforming
the market, particularly for our differentiated product.
-- Business improvement programme progressing to plan.
Peter Long, Chief Executive of TUI Travel PLC, commented
"We are very pleased with our Summer 2012 performance, with most
of our programmes now almost fully sold. High demand in the peak
Summer period, driven by our strategy of differentiated and
exclusive product distributed online, has resulted in strong lates
margins and load factors.
"We remain on track to meet our full year expectations, with
strong underlying trading offset by the impact of
re-translation of fourth quarter Eurozone earnings. Our continued outperformance in a challenging macroeconomic environment demonstrates our robust strategy is delivering clear results."
CURRENT TRADING
Summer 2012
The Summer 2012 programme is now almost fully sold, with load
factors ahead of the prior year in our major markets. We have fewer
holidays left to sell than at this stage last year, which has
allowed pricing levels to be maintained in the lates market with
strong margins.
Current Trading (1) Summer 2012
YoY variation% Total ASP(2) Total Total Risk Only
Sales(2) Customers(2)
Capacity(3)
MAINSTREAM
UK +10 +5 -4 -6
Nordic region +3 +9 +6 +4
Northern Region +9 +6 -3
Germany +4 +5 +1 -6
Austria +1 -2 -4
Switzerland -7 +5 +13
Poland +6 +41 +33
Central Europe +3 +5 +2
France tour operators +3 -3 -7
Belgium -3 +3 +6
Netherlands +3 +7 +3
Western Europe Flat +2 +2
SPECIALIST & ACTIVITY N/A +3 N/A
A&D(4) +7 +16 +9
(1) These statistics are up to 16 September 2012 and are shown
on a constant currency basis
(2) These statistics relate to all customers whether risk or
non-risk
(3) These statistics include all risk capacity programmes
(4) These statistics refer to online accommodation businesses
only; Sales refer to total transaction value (TTV) and customers
refers to roomnights
YoY customer booking variation % Cumulative Bookings since previous trading Cumulative
bookings at 29 July statement bookings at 16 September
UK -5 -2 -4
Nordic region +6 +7 +6
Germany +2 -4 +1
France - tour operators -9 -4 -7
Belgium +5 +15 +6
Netherlands +3 +9 +3
--------------------------------- --------------------- -------------------------------- --------------------------
Winter 2012/13
For Winter 2012/13 it is relatively early in the booking cycle
for most source markets, however trading has been encouraging since
our last update in August and booked load factors are in line with
our expectations.
Current Trading (1) Winter 2012/13
YoY variation% Total ASP(2) Total Total Risk Only
Sales(2) Customers(2)
Capacity(3) Left to sell(3)
MAINSTREAM
UK +3 +5 +2 Flat -1
Nordic region +4 +8 +4 +4 +4
Northern Region +3 +6 +3
Germany +2 +9 +7 -2 -4
Austria +5 +4 -2
Switzerland -11 -2 +10
Poland +13 -13 -23
Central Europe +2 +8 +6
France tour operators +3 -24 -26
Belgium +6 -3 -8
Netherlands -2 -12 -10
Western Europe +1 -14 -15
SPECIALIST & ACTIVITY -5
A&D(4) +16 +32 +14
(1) These statistics are up to 16 September 2012 and are shown
on a constant currency basis
(2) These statistics relate to all customers whether risk or
non-risk
(3) These statistics include all risk capacity programmes
(4) These statistics refer to online accommodation businesses
only; Sales refer to total transaction value (TTV) and customers
refers to roomnights
In the UK, bookings are up by 2% against a flat capacity.
Average selling price is up 3%, partly reflecting the successful
pass-through of inflationary cost increases of 2%. Booked load
factor is currently 31%. Sales of differentiated product are up 9%
compared with this time last year, accounting for 63% of holidays
sold to date, up four percentage points on the prior year. Online
sales continue to grow, accounting for 41% of Winter holidays
booked, up by four percentage points on the prior year.
In the Nordic region, bookings are up 4% in line with capacity.
Sales of differentiated product are up 16% compared with this time
last year, accounting for 69% of holidays sold to date, up seven
percentage points on the prior year. Online sales continue to grow,
accounting for 62% of Winter holidays booked, up by three
percentage points on the prior year. Booked load factor is
currently 49%.
In Germany, bookings are up 7% with long haul destinations
performing particularly well. Booked load factor is currently
27%.
In France, we have re-mixed the programme by reducing capacity
to long-haul destinations which tend to book earlier. As a result
of this, volumes are down -26%, this is in line with our
expectations and is consistent with the booking patterns for the
remixed offering. Booked load factor is currently 27%.
Summer 2013
Summer 2013 UK bookings are up by 10% against the same period
last year, with a slight increase in capacity. We are significantly
outperforming the market and average selling prices are up by 3%.
Sales of differentiated product are up 15% compared with this time
last year, accounting for 68% of holidays sold to date, up one
percentage points on the prior year. To date 11% of the programme
has been sold.
Acquisition
The Accommodation & Destinations sector has acquired
MalaPronta.com, Brazil's fourth largest accommodation-only OTA with
a strong reputation and brand positioning. The gross assets of the
business acquired were BRL 1.4 million (GBP 0.4 million) as at 31
December 2011. MalaPronta.com has achieved 117% compound annual
revenue growth in the past 7 years growing to its current level of
more than 130,000 room nights sold last year. The acquisition of
MalaPronta.com is part of the Accommodation OTA strategy to build
its offering and positioning globally particularly in the emerging
markets.
Preliminary Results
TUI Travel will announce its preliminary results for the year
ended 30 September 2012 on 4 December 2012, when we will also
outline our roadmap for growth.
Enquiries:
Analysts & Investors
Will Waggott, Chief Financial Officer Tel: +44 (0)1582 645 334
Andy Long, Head of Strategy & Investor Relations Tel: +44 (0)1293 645 795
Press
Lesley Allan, Corporate Communications Director Tel: +44 (0)1293 645 790
Mike Ward, External Communications Manager Tel: +44 (0)1293 645 776
Michael Sandler / Katie Matthews (Hudson Sandler) Tel: +44 (0)20 7796 4133
This information is provided by RNS
The company news service from the London Stock Exchange
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