<p>TUI AG（德股代码：TUI1）召开了第四季度财报电话会议。以下是会议的主要亮点。</p>
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<p>TUI AG 最近的财报电话会议展现了复杂的情绪，突出了强劲的运营成就和战略挑战。公司在酒店和度假村以及邮轮业务方面展示了显著的成功，同时也提到了市场和航空业务的表现不佳以及与波音的延误。引入股息政策和显著的杠杆降低是积极的发展，人工智能的整合被视为未来增长的有希望的途径。然而，某些挑战需要解决，以维持整体增长势头。</p>
<h2>业绩创纪录和强劲的 EBIT 增长</h2>
<p>TUI AG 报告了创纪录的业绩，EBIT 强劲增长，这归功于其综合战略和成功的并购转型。这一成就凸显了公司有效执行战略计划和推动财务增长的能力。</p>
<h2>酒店和度假村及邮轮业务的成功</h2>
<p>酒店和度假村业务表现出色，入住率达到 84%，日均房价上升。同样，邮轮业务也达到了满载，日均房价显著上升，突显了这些领域的强劲需求和运营效率。</p>
<h2>股息政策的启动</h2>
<p>鉴于强劲的业绩，TUI AG 引入了一项新的股息政策，并立即实施。此决定受到股东的欢迎，反映了公司对其财务稳定性和未来前景的信心。</p>
<h2>收入和利润增长</h2>
<p>公司报告收入增长超过 4%，在固定汇率下，基础 EBIT 增长 12.6%。这些数字表明了公司稳健的财务表现和增长战略的有效性。</p>
<h2>杠杆降低</h2>
<p>TUI AG 将净债务减少了 3 亿欧元，降至 13 亿欧元，杠杆比率降低至 0.6 倍。这是公司历史上最低的杠杆率之一，展示了其对财务健康和稳定的承诺。</p>
<h2>人工智能整合</h2>
<p>TUI AG 在将公司转型为人工智能驱动的组织方面采取了重要步骤。这包括内容生产、客户服务和成本效率的改善，为公司未来的增长和竞争优势奠定基础。</p>
<h2>市场和航空业务表现不佳</h2>
<p>市场和航空业务的结果减少了 1 亿欧元，主要由于在转型中的大量投资和特殊影响。这一表现不佳突显了需要进行战略调整以提高盈利能力。</p>
<h2>波音延误的影响</h2>
<p>由于波音的延误，运营面临挑战，影响了机队效率，并需要显著的成本覆盖。解决这些延误对优化运营表现至关重要。</p>
<h2>牙买加事件的影响</h2>
<p>牙买加事件带来了显著的负面影响，影响了交易并需要战略调整。该事件强调了风险管理和应急计划的重要性。</p>
<h2>前瞻性指导</h2>
<p>展望未来，TUI AG 预计 2025 财年将实现强劲增长，收入增长超过 4%，在固定汇率下，基础 EBIT 增长 12.6%。公司预计 2026 年的利润增长将达到 7% 至 10%，这得益于战略投资和运营效率，包括 2.5 亿欧元的成本削减计划。2025 年引入 0.10 欧元的股息反映了公司的强劲业绩和财务纪律。</p>
<p>总之，TUI AG 的财报电话会议突显了强劲成就和战略挑战的结合。公司在酒店和度假村及邮轮业务的成功，以及其财务纪律，都是积极的。然而，解决某些领域的表现不佳和运营挑战对于维持增长至关重要。前瞻性指导表明持续的乐观情绪和对增长与效率的战略关注。</p>

TUI1

<p>TUI AG 第四季度的财报电话会议透露了混合的情绪，强调了在酒店与度假村和邮轮业务方面的强劲成就，但在市场与航空以及波音的延误方面面临挑战。公司推出了股息政策并降低了杠杆，展示了财务稳定性。人工智能的整合被视为一个增长途径。尽管某些领域表现不佳，TUI AG 预计未来几个财政年度将强劲增长，收入和利润的增长将由战略投资和运营效率驱动</p>

<p>TUI AG ((DE:TUI1)) has held its Q4 earnings call. Read on for the main highlights of the call.</p>
<div class="lb-trans"><p>TUI AG（德股代码：TUI1）召开了第四季度财报电话会议。以下是会议的主要亮点。</p>
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</div><p>The recent earnings call for TUI AG painted a picture of mixed sentiments, highlighting both strong operational achievements and strategic challenges. The company showcased notable successes in its Hotels &amp; Resorts and Cruise segments, while also addressing underperformance in Markets &amp; Airlines and delays with Boeing. The introduction of a dividend policy and significant leverage reduction were positive developments, and the integration of AI was seen as a promising avenue for future growth. However, certain challenges need to be addressed to maintain overall growth momentum.</p>
<div class="lb-trans"><p>TUI AG 最近的财报电话会议展现了复杂的情绪，突出了强劲的运营成就和战略挑战。公司在酒店和度假村以及邮轮业务方面展示了显著的成功，同时也提到了市场和航空业务的表现不佳以及与波音的延误。引入股息政策和显著的杠杆降低是积极的发展，人工智能的整合被视为未来增长的有希望的途径。然而，某些挑战需要解决，以维持整体增长势头。</p>
</div><h2>Record Performance and Strong EBIT Increase</h2>
<div class="lb-trans"><h2>业绩创纪录和强劲的 EBIT 增长</h2>
</div><p>TUI AG reported a record performance with a strong increase in EBIT, attributed to its integrated strategy and successful mergers and acquisitions transformation. This achievement underscores the company’s ability to effectively execute its strategic plans and drive financial growth.</p>
<div class="lb-trans"><p>TUI AG 报告了创纪录的业绩，EBIT 强劲增长，这归功于其综合战略和成功的并购转型。这一成就凸显了公司有效执行战略计划和推动财务增长的能力。</p>
</div><h2>Hotels &amp; Resorts and Cruise Success</h2>
<div class="lb-trans"><h2>酒店和度假村及邮轮业务的成功</h2>
</div><p>The Hotels &amp; Resorts segment had an outstanding year, achieving 84% occupancy and increasing daily rates. Similarly, the Cruise segment reached full occupancy, with a significant rise in daily rates, highlighting the strong demand and operational efficiency in these areas.</p>
<div class="lb-trans"><p>酒店和度假村业务表现出色，入住率达到 84%，日均房价上升。同样，邮轮业务也达到了满载，日均房价显著上升，突显了这些领域的强劲需求和运营效率。</p>
</div><h2>Dividend Policy Initiation</h2>
<div class="lb-trans"><h2>股息政策的启动</h2>
</div><p>In light of the strong results, TUI AG introduced a new dividend policy, which was immediately implemented. This decision was well-received by shareholders, reflecting the company’s confidence in its financial stability and future prospects.</p>
<div class="lb-trans"><p>鉴于强劲的业绩，TUI AG 引入了一项新的股息政策，并立即实施。此决定受到股东的欢迎，反映了公司对其财务稳定性和未来前景的信心。</p>
</div><h2>Revenue and Profit Growth</h2>
<div class="lb-trans"><h2>收入和利润增长</h2>
</div><p>The company reported a revenue growth of over 4% and an underlying EBIT increase of 12.6% at constant currency rates. These figures indicate a solid financial performance and the effectiveness of the company’s growth strategies.</p>
<div class="lb-trans"><p>公司报告收入增长超过 4%，在固定汇率下，基础 EBIT 增长 12.6%。这些数字表明了公司稳健的财务表现和增长战略的有效性。</p>
</div><h2>Leverage Reduction</h2>
<div class="lb-trans"><h2>杠杆降低</h2>
</div><p>TUI AG improved its net debt by EUR 0.3 billion, bringing it down to EUR 1.3 billion and reducing leverage to 0.6x. This is one of the lowest leverage rates in the company’s history, showcasing its commitment to financial health and stability.</p>
<div class="lb-trans"><p>TUI AG 将净债务减少了 3 亿欧元，降至 13 亿欧元，杠杆比率降低至 0.6 倍。这是公司历史上最低的杠杆率之一，展示了其对财务健康和稳定的承诺。</p>
</div><h2>AI Integration</h2>
<div class="lb-trans"><h2>人工智能整合</h2>
</div><p>Significant steps have been taken to transform TUI AG into an AI-powered organization. This includes improvements in content production, customer service, and cost efficiency, positioning the company for future growth and competitive advantage.</p>
<div class="lb-trans"><p>TUI AG 在将公司转型为人工智能驱动的组织方面采取了重要步骤。这包括内容生产、客户服务和成本效率的改善，为公司未来的增长和竞争优势奠定基础。</p>
</div><h2>Markets &amp; Airlines Underperformance</h2>
<div class="lb-trans"><h2>市场和航空业务表现不佳</h2>
</div><p>The Markets &amp; Airlines segment experienced a EUR 100 million decrease in results, primarily due to heavy investment in transformation and extraordinary impacts. This underperformance highlights the need for strategic adjustments to enhance profitability.</p>
<div class="lb-trans"><p>市场和航空业务的结果减少了 1 亿欧元，主要由于在转型中的大量投资和特殊影响。这一表现不佳突显了需要进行战略调整以提高盈利能力。</p>
</div><h2>Boeing Delays Impact</h2>
<div class="lb-trans"><h2>波音延误的影响</h2>
</div><p>Operational challenges arose from Boeing delays, affecting fleet efficiency and necessitating significant cost coverage. Addressing these delays is crucial for optimizing operational performance.</p>
<div class="lb-trans"><p>由于波音的延误，运营面临挑战，影响了机队效率，并需要显著的成本覆盖。解决这些延误对优化运营表现至关重要。</p>
</div><h2>Jamaica Incident Impact</h2>
<div class="lb-trans"><h2>牙买加事件的影响</h2>
</div><p>A significant negative impact was felt from the Jamaica incident, affecting trading and requiring strategic adjustments. This incident underscores the importance of risk management and contingency planning.</p>
<div class="lb-trans"><p>牙买加事件带来了显著的负面影响，影响了交易并需要战略调整。该事件强调了风险管理和应急计划的重要性。</p>
</div><h2>Forward-Looking Guidance</h2>
<div class="lb-trans"><h2>前瞻性指导</h2>
</div><p>Looking ahead, TUI AG anticipates a strong fiscal year 2025, with revenue growth over 4% and an underlying EBIT increase of 12.6% at constant currency rates. The company expects profit growth of 7% to 10% in 2026, driven by strategic investments and operational efficiencies, including a EUR 250 million cost reduction plan. The introduction of a EUR 0.10 dividend for 2025 reflects the company’s strong results and financial discipline.</p>
<div class="lb-trans"><p>展望未来，TUI AG 预计 2025 财年将实现强劲增长，收入增长超过 4%，在固定汇率下，基础 EBIT 增长 12.6%。公司预计 2026 年的利润增长将达到 7% 至 10%，这得益于战略投资和运营效率，包括 2.5 亿欧元的成本削减计划。2025 年引入 0.10 欧元的股息反映了公司的强劲业绩和财务纪律。</p>
</div><p>In conclusion, TUI AG’s earnings call highlighted a mix of strong achievements and strategic challenges. The company’s successes in the Hotels &amp; Resorts and Cruise segments, along with its financial discipline, are promising. However, addressing underperformance in certain areas and operational challenges is essential for sustaining growth. The forward-looking guidance suggests continued optimism and strategic focus on growth and efficiency.</p>
<div class="lb-trans"><p>总之，TUI AG 的财报电话会议突显了强劲成就和战略挑战的结合。公司在酒店和度假村及邮轮业务的成功，以及其财务纪律，都是积极的。然而，解决某些领域的表现不佳和运营挑战对于维持增长至关重要。前瞻性指导表明持续的乐观情绪和对增长与效率的战略关注。</p>
</div>

TUI AG 财报电话会议：情绪复杂与战略聚焦