TUI AG gradually recover in the financial year 2022 and that the booking behaviour in the financial year 2023 will largely correspond to the pre-pandemic level. The Executive Board assumes that there will be no further long-term closures and lockdowns that could affect travel behaviour. Nevertheless, customer bookings may deteriorate due to new travel restrictions, insufficient vaccination coverage against the COVID-19 virus in individual countries, and virus variants for which there is insufficient vaccination protection, thereby affecting the Company's performance.
During this period of reduced travel compared to pre-pandemic levels, the Executive Board continues to monitor the key risks, particularly heightened risks such as customer demand and those that impact the financial profile (i.e. cost volatility and cashflow) of the Group.
Unaudited condensed Consolidated Interim Financial Statements
Unaudited condensed consolidated income statement of TUI Group for the period from
1 Oct 2020 to 30 Jun 2021
? million Notes Q3 2021 Q3 2020 9M 2021 9M 2020
Revenue (1) 649.7 71.8 1,365.9 6,710.4
Cost of sales (2) 1,124.2 1,009.0 2,642.4 7,968.7
Gross loss - 474.5 - 937.3 - -
1,276.4 1,258.3
Administrative expenses (2) 216.5 202.7 604.2 731.1
Other income (3) 10.1 4.5 20.9 97.6
Other expenses (4) 1.0 14.9 9.2 18.6
Impairment of goodwill (9) - 67.7 - 67.7
Impairment (+) / Reversal of impairment (-) of financial assets (20) - 6.8 72.1 - 35.9 95.6
Financial income (5) - 1.9 4.8 25.0 27.2
Financial expense (5) 100.5 74.9 356.5 204.6
Share of result of investments accounted for using the equity method (6) - 69.4 - 107.4 - 226.5 - 63.7
Impairment (+) / Reversal of impairment (-) of net investments in joint (6) - 51.2 - 0.5 53.0
ventures and associates
Earnings before income taxes - 846.9 - - -
1,518.8 2,390.7 2,367.7
Income taxes (expense (+), income (-)) (7) 92.9 - 9.1 47.3 - 43.1
Group loss - 939.8 - - -
1,509.6 2,438.0 2,324.7
Group loss attributable to shareholders of TUI AG - 934.8 - - -
1,481.4 2,409.6 2,342.8
Group loss / profit attributable to non-controlling interest (8) - 5.0 - 28.2 - 28.4 18.1
Earnings per share
? Q3 2021 Q3 2020 9M 2021 9M 2020
Basic and diluted loss / earnings per share - 0.85 - 2.51 - 2.66 - 3.98
Unaudited condensed consolidated statement of comprehensive income of TUI Group for the period from
1 Oct 2020 to 30 Jun 2021
? million Q3 Q3 2020 9M 2021 9M 2020
2021
Group loss - - - -
939.8 1,509.6 2,438.0 2,324.7
Remeasurement of defined benefit obligations and related fund assets - - 389.8 - 268.8 68.3
124.5
Other comprehensive income of investments accounted for using the equity method 9.4 0.7 39.3 - 44.1
that will not be reclassified
Fair value gain/loss on investments in equity instruments designated as at FVTOCI 0.2 - 17.3 - 0.3 - 25.6
Income tax related to items that will not be reclassified 85.1 104.3 118.0 1.2
(expense (-), income (+))
Items that will not be reclassified to profit or loss - - 302.1 - 111.8 - 0.2
29.8
Foreign exchange differences - - 18.9 48.0 - 140.3
15.1
Cash flow hedges 39.0 166.8 92.9 - 277.6
Other comprehensive income of investments accounted for using the equity method 1.2 10.7 - 22.1 5.7
that may be reclassified
Income tax related to items that may be reclassified (expense (-), income (+)) - 6.7 - 28.5 - 28.8 78.1
Items that may be reclassified to profit or loss 18.4 130.1 90.0 - 334.1
Other comprehensive income - - 172.0 - 21.8 - 334.3
11.4
Total comprehensive income - - - -
951.2 1,681.6 2,459.8 2,659.0
attributable to shareholders of TUI AG - - - -
945.4 1,650.5 2,443.6 2,634.6
attributable to non-controlling interest - 5.8 - 31.1 - 16.2 - 24.4
Unaudited condensed consolidated statement of financial position of TUI Group as at 30 Jun 2021
? million Notes 30 Jun 2021 30 Sep 2020
Assets
Goodwill (9) 2,999.0 2,914.5
Other intangible assets 542.7 553.5
Property, plant and equipment (10) 3,278.9 3,462.5
Right-of-use assets (11) 3,094.3 3,227.9
Investments in joint ventures and associates 646.2 1,186.7
Trade and other receivables (12) (20) 206.3 402.4
Derivative financial instruments (20) 7.7 7.4
Other financial assets (20) 8.2 10.6
Touristic payments on account 112.4 149.9
Other non-financial assets 230.5 423.2
Income tax assets 9.6 9.6
Deferred tax assets 178.3 299.6
Non-current assets 11,314.2 12,647.8
Inventories 54.2 73.2
Trade and other receivables (12) (20) 476.6 486.3
Derivative financial instruments (20) 44.6 88.9
Other financial assets (20) 13.6 14.9
Touristic payments on account 635.4 555.5
Other non-financial assets 135.2 113.4
Income tax assets 45.9 70.9
Cash and cash equivalents (20) 1,524.4 1,233.1
Assets held for sale (13) 391.7 57.2
Current assets 3,321.7 2,693.4
Total assets 14,635.9 15,341.1
Unaudited condensed consolidated statement of financial position of TUI Group as at 30 Jun 2021
? million Notes 30 Jun 2021 30 Sep 2020
Equity and liabilities
Subscribed capital 1,099.4 1,509.4
Capital reserves 5,253.5 4,211.0
Revenue reserves - 8,618.8 - 6,168.8
Silent participation 1,091.0 -
Equity before non-controlling interest - 1,174.9 - 448.4
Non-controlling interest 650.2 666.5
Equity (19) - 524.7 218.1
Pension provisions and similar obligations (14) 988.2 983.6 (MORE TO FOLLOW) Dow Jones Newswires
August 12, 2021 02:00 ET (06:00 GMT)
