The travel group Tui will withdraw from the London Stock Exchange. The shareholders decided this at the general meeting this Tuesday with a majority of more than 98 percent of the capital present. In the future, the company will focus on the Frankfurt stock exchange. Tui boss Sebastian Ebel and CFO Mathias Kiep had already announced corresponding plans in December. It’s about reducing complexity and cutting costs. This is good news for the Frankfurt stock exchange location. Around a year ago, the shareholders of the industrial gas group Linde decided that the then most valuable stock exchange company would withdraw from the Frankfurt Stock Exchange and would only be traded on the New York Stock Exchange.
Tui, in turn, merged with the British tour operator subsidiary Tui Travel ten years ago, left the M-Dax and moved the main listing of its shares to the London financial center. In the years that followed, most of Tui’s shares were traded there, according to the travel group. But that has changed, especially in the last four years. More than three quarters of share purchases now take place in Germany. He assumes that Tui shares will be included again in the M-Dax, the German index for medium-sized companies, in June, said Ebel when presenting the quarterly figures on Tuesday morning.
Positive quarterly figures for October to December
The figures for the winter quarter were extremely positive. For the first time in ten years, the world’s largest travel group made a small profit from October to December. Travel companies usually make losses in winter, but profits are mainly made in summer, when most people go on vacation.
According to Tui information, 3.5 million guests traveled with Tui in the first quarter of the 2023/2024 financial year (October to December 2023), which ensured that the group’s sales increased by 15 percent to 4.3 billion euros compared to increased in the same quarter of the previous year. Significantly increased prices for vacation trips strengthened the result. Despite inflation, holidays remain the top priority for consumers, said CFO Mathias Kiep. The travel group is therefore expecting a strong summer; summer bookings, like winter bookings, are currently up eight percent compared to the previous year.