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    TUI1   DE000TUAG000

TUI AG

(TUI1)
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Delayed Xetra  -  11:36 2022-09-23 am EDT
1.484 EUR   -3.92%
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TUI : repays further state aid to WSF and reduces undrawn KfW credit lines

07/01/2022 | 04:03am EDT
  • Silent participation II of 671 million euros repaid on June 30
  • Currently undrawn KfW credit lines reduced to 2.1 billion euros
  • Joussen and Ebel: TUI is on its way back to a "normal company" - operationally strong summer business and strengthening of the balance sheet

Hanover, 1 July 2022. As announced, TUI has again repaid state aid from the Corona programme and also further reduced its credit lines. On June 30, 2022, Silent Participation II of 671 million euros was repaid in full, plus interest due, to WSF (Economic Stabilisation Fund). The repayment was made with the proceeds from the successful capital increase in mid-May and from cash funds. Including interest, TUI repaid 725 million euros to WSF. Due to the continued very good operating business, the existing and currently undrawn KfW credit lines were also reduced from 2.4 to 2.1 billion euros as previously announced.

TUI is gradually repaying the loans from the Corona period. With the repayment of Silent Participation II to WSF, we are continuing on the path of debt reduction as planned in order to strengthen the balance sheet and align TUI for the period after the Corona pandemic. Operationally, we continue to see a strong summer business. Therefore, TUI is on its way back to being a normal company. This was stated by Fritz Joussen, CEO of TUI Group, and Sebastian Ebel, CFO and designated CEO from October 1, 2022, in Hanover.

After the repayment of the Silent Participation II and the reduction of the KfW credit lines, the following state aid still exists:

  • WSF Silent Participation I: 420 million euros, convertible into 420 million shares.
  • WSF warrant bond: 59 million euros, convertible into 59 million shares
  • KfW credit lines: 2.1 billion euros, currently undrawn

Disclaimer

TUI AG published this content on 01 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 July 2022 08:02:07 UTC.


© Publicnow 2022
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Sales 2022 16 416 M 15 961 M 15 961 M
Net income 2022 -163 M -159 M -159 M
Net Debt 2022 3 927 M 3 818 M 3 818 M
P/E ratio 2022 -27,2x
Yield 2022 -
Capitalization 2 649 M 2 576 M 2 576 M
EV / Sales 2022 0,40x
EV / Sales 2023 0,34x
Nbr of Employees 60 058
Free-Float 65,6%
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Number of Analysts 8
Last Close Price 1,48 €
Average target price 1,84 €
Spread / Average Target 24,1%
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Managers and Directors
Friedrich Peter Joussen Chief Executive Officer
Sebastian Ebel Chief Financial Officer
Dieter Zetsche Chairman-Supervisory Board
Frank Rosenberger Chief Information Officer & Head-Future Markets
Edgar Ernst Member-Supervisory Board
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