<p>TUI AG（德股代碼：TUI1）召開了第四季度財報電話會議。以下是會議的主要亮點。</p>
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<p>TUI AG 最近的財報電話會議展現了複雜的情緒，突出了強勁的運營成就和戰略挑戰。公司在酒店和度假村以及郵輪業務方面展示了顯著的成功，同時也提到了市場和航空業務的表現不佳以及與波音的延誤。引入股息政策和顯著的槓桿降低是積極的發展，人工智能的整合被視為未來增長的有希望的途徑。然而，某些挑戰需要解決，以維持整體增長勢頭。</p>
<h2>業績創紀錄和強勁的 EBIT 增長</h2>
<p>TUI AG 報告了創紀錄的業績，EBIT 強勁增長，這歸功於其綜合戰略和成功的併購轉型。這一成就凸顯了公司有效執行戰略計劃和推動財務增長的能力。</p>
<h2>酒店和度假村及郵輪業務的成功</h2>
<p>酒店和度假村業務表現出色，入住率達到 84%，日均房價上升。同樣，郵輪業務也達到了滿載，日均房價顯著上升，突顯了這些領域的強勁需求和運營效率。</p>
<h2>股息政策的啓動</h2>
<p>鑑於強勁的業績，TUI AG 引入了一項新的股息政策，並立即實施。此決定受到股東的歡迎，反映了公司對其財務穩定性和未來前景的信心。</p>
<h2>收入和利潤增長</h2>
<p>公司報告收入增長超過 4%，在固定匯率下，基礎 EBIT 增長 12.6%。這些數字表明瞭公司穩健的財務表現和增長戰略的有效性。</p>
<h2>槓桿降低</h2>
<p>TUI AG 將淨債務減少了 3 億歐元，降至 13 億歐元，槓桿比率降低至 0.6 倍。這是公司歷史上最低的槓桿率之一，展示了其對財務健康和穩定的承諾。</p>
<h2>人工智能整合</h2>
<p>TUI AG 在將公司轉型為人工智能驅動的組織方面採取了重要步驟。這包括內容生產、客户服務和成本效率的改善，為公司未來的增長和競爭優勢奠定基礎。</p>
<h2>市場和航空業務表現不佳</h2>
<p>市場和航空業務的結果減少了 1 億歐元，主要由於在轉型中的大量投資和特殊影響。這一表現不佳突顯了需要進行戰略調整以提高盈利能力。</p>
<h2>波音延誤的影響</h2>
<p>由於波音的延誤，運營面臨挑戰，影響了機隊效率，並需要顯著的成本覆蓋。解決這些延誤對優化運營表現至關重要。</p>
<h2>牙買加事件的影響</h2>
<p>牙買加事件帶來了顯著的負面影響，影響了交易並需要戰略調整。該事件強調了風險管理和應急計劃的重要性。</p>
<h2>前瞻性指導</h2>
<p>展望未來，TUI AG 預計 2025 財年將實現強勁增長，收入增長超過 4%，在固定匯率下，基礎 EBIT 增長 12.6%。公司預計 2026 年的利潤增長將達到 7% 至 10%，這得益於戰略投資和運營效率，包括 2.5 億歐元的成本削減計劃。2025 年引入 0.10 歐元的股息反映了公司的強勁業績和財務紀律。</p>
<p>總之，TUI AG 的財報電話會議突顯了強勁成就和戰略挑戰的結合。公司在酒店和度假村及郵輪業務的成功，以及其財務紀律，都是積極的。然而，解決某些領域的表現不佳和運營挑戰對於維持增長至關重要。前瞻性指導表明持續的樂觀情緒和對增長與效率的戰略關注。</p>

TUI1

<p>TUI AG 第四季度的財報電話會議透露了混合的情緒，強調了在酒店與度假村和郵輪業務方面的強勁成就，但在市場與航空以及波音的延誤方面面臨挑戰。公司推出了股息政策並降低了槓桿，展示了財務穩定性。人工智能的整合被視為一個增長途徑。儘管某些領域表現不佳，TUI AG 預計未來幾個財政年度將強勁增長，收入和利潤的增長將由戰略投資和運營效率驅動</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（德股代碼：TUI1）召開了第四季度財報電話會議。以下是會議的主要亮點。</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 最近的財報電話會議展現了複雜的情緒，突出了強勁的運營成就和戰略挑戰。公司在酒店和度假村以及郵輪業務方面展示了顯著的成功，同時也提到了市場和航空業務的表現不佳以及與波音的延誤。引入股息政策和顯著的槓桿降低是積極的發展，人工智能的整合被視為未來增長的有希望的途徑。然而，某些挑戰需要解決，以維持整體增長勢頭。</p>
</div><h2>Record Performance and Strong EBIT Increase</h2>
<div class="lb-trans"><h2>業績創紀錄和強勁的 EBIT 增長</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 報告了創紀錄的業績，EBIT 強勁增長，這歸功於其綜合戰略和成功的併購轉型。這一成就凸顯了公司有效執行戰略計劃和推動財務增長的能力。</p>
</div><h2>Hotels &amp; Resorts and Cruise Success</h2>
<div class="lb-trans"><h2>酒店和度假村及郵輪業務的成功</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>酒店和度假村業務表現出色，入住率達到 84%，日均房價上升。同樣，郵輪業務也達到了滿載，日均房價顯著上升，突顯了這些領域的強勁需求和運營效率。</p>
</div><h2>Dividend Policy Initiation</h2>
<div class="lb-trans"><h2>股息政策的啓動</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>鑑於強勁的業績，TUI AG 引入了一項新的股息政策，並立即實施。此決定受到股東的歡迎，反映了公司對其財務穩定性和未來前景的信心。</p>
</div><h2>Revenue and Profit Growth</h2>
<div class="lb-trans"><h2>收入和利潤增長</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>公司報告收入增長超過 4%，在固定匯率下，基礎 EBIT 增長 12.6%。這些數字表明瞭公司穩健的財務表現和增長戰略的有效性。</p>
</div><h2>Leverage Reduction</h2>
<div class="lb-trans"><h2>槓桿降低</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 將淨債務減少了 3 億歐元，降至 13 億歐元，槓桿比率降低至 0.6 倍。這是公司歷史上最低的槓桿率之一，展示了其對財務健康和穩定的承諾。</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 在將公司轉型為人工智能驅動的組織方面採取了重要步驟。這包括內容生產、客户服務和成本效率的改善，為公司未來的增長和競爭優勢奠定基礎。</p>
</div><h2>Markets &amp; Airlines Underperformance</h2>
<div class="lb-trans"><h2>市場和航空業務表現不佳</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>市場和航空業務的結果減少了 1 億歐元，主要由於在轉型中的大量投資和特殊影響。這一表現不佳突顯了需要進行戰略調整以提高盈利能力。</p>
</div><h2>Boeing Delays Impact</h2>
<div class="lb-trans"><h2>波音延誤的影響</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>由於波音的延誤，運營面臨挑戰，影響了機隊效率，並需要顯著的成本覆蓋。解決這些延誤對優化運營表現至關重要。</p>
</div><h2>Jamaica Incident Impact</h2>
<div class="lb-trans"><h2>牙買加事件的影響</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>牙買加事件帶來了顯著的負面影響，影響了交易並需要戰略調整。該事件強調了風險管理和應急計劃的重要性。</p>
</div><h2>Forward-Looking Guidance</h2>
<div class="lb-trans"><h2>前瞻性指導</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>展望未來，TUI AG 預計 2025 財年將實現強勁增長，收入增長超過 4%，在固定匯率下，基礎 EBIT 增長 12.6%。公司預計 2026 年的利潤增長將達到 7% 至 10%，這得益於戰略投資和運營效率，包括 2.5 億歐元的成本削減計劃。2025 年引入 0.10 歐元的股息反映了公司的強勁業績和財務紀律。</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>總之，TUI AG 的財報電話會議突顯了強勁成就和戰略挑戰的結合。公司在酒店和度假村及郵輪業務的成功，以及其財務紀律，都是積極的。然而，解決某些領域的表現不佳和運營挑戰對於維持增長至關重要。前瞻性指導表明持續的樂觀情緒和對增長與效率的戰略關注。</p>
</div>

TUI AG 財報電話會議：情緒複雜與戰略聚焦