{ "docId": "019dd923-5eff-723e-9be7-d26e8b9c7415", "docSlug": "db9dd26ce4c89573", "documentTitle": "2024 Annual Report", "authorId": "TUI-Group", "authorName": "TUI Group", "documentKindSlug": "consulting-deck", "documentKindLabel": "Consulting deck", "sourceTypeSlug": "strategy_consulting", "sourceTypeLabel": "Strategy consulting", "presentationDate": null, "orientation": "landscape", "aspectRatio": 1.777, "pageNumber": 41, "pageCount": 286, "prevPage": 40, "nextPage": 42, "slideType": "risk_register", "function": "diagnose", "density": "dense", "nDataPoints": 0, "notes": "This slide appears to be a page from a larger annual report, specifically within the Risk Report section.", "elementsJson": [ "paragraph", "bullet_list" ], "metadataConfidence": 0.95, "imagePath": null, "slideHref": "/slides/019dd923-5eff-723e-9be7-d26e8b9c7415/41", "deckHref": "/decks/019dd923-5eff-723e-9be7-d26e8b9c7415", "deckJsonHref": "/decks/019dd923-5eff-723e-9be7-d26e8b9c7415.json", "deckAnchorHref": "/decks/019dd923-5eff-723e-9be7-d26e8b9c7415#slide-41", "components": [ { "bbox": null, "kind": "callout", "text": "Tourism is inherently seasonal with the majority of business undertaken and profits earned in the European summer months.", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd952-832e-76b9-811a-6a82525bb142", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.3, "w": 0.356, "x": 0.573, "y": 0.143 }, "kind": "list", "text": "The Executive Board has continued to place significant focus on the review of the Group's cash flow position.\nWith the further positive development of cash and cash equivalents in 2024, the Executive Board believes that, despite the existing risks, the TUI Group currently has and will continue to have sufficient funds resulting both from the borrowing and from operating cash flows to meet its payment obligations and to continue as a going concern.\nOur focus on holiday experiences is helping to reduce the seasonality risk, as hotels, cruises and destination experiences have a more evenly distributed profit and cash profile across the year.\nAs our business is spread across a number of markets, there are some counter-cyclical features e. g. winter is a more important season for the Nordic and Canadian market. Some brands, such as the UK ski brand Crystal Ski, have a different seasonality profile which helps to counter-balance the overall profile.\nThe business regularly produces both short term and long term cash forecasts during the year, which the Treasury department use to manage cash resources effectively. We continue to maintain high-quality relationships with the Group's key financiers. TUI AG's RCF and KfW credit line are subject to compliance with certain financial target values (covenants) for debt coverage and interest coverage, the review of which is carried out based on the last four reported quarters at the end of the financial year or the half-year of a financial year. As of 30 September 2024, TUI complied with the financial covenants.", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "036d6961-a22b-4ee7-81af-3f3c066cfd07", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.036, "w": 0.356, "x": 0.213, "y": 0.211 }, "kind": "paragraph", "text": "There is the risk that if we do not adequately manage cash balances through the winter low period this could impact on the Group's liquidity and ability to settle liabilities as they fall due whilst ensuring that financial covenants are maintained.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "6ae39711-4282-49d6-9839-27e2176a7689", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.06, "w": 0.356, "x": 0.213, "y": 0.143 }, "kind": "paragraph", "text": "Tourism is inherently seasonal with the majority of business undertaken and profits earned in the European summer months. Cash flows are similarly seasonal, peaking in early summer as advance payments and final balances are received from customers, and dipping in winter as liabilities are settled with many suppliers after the summer season. ('The touristic swing').", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "9c1bb145-f772-4b84-9728-074c4192961e", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.012, "w": 0.135, "x": 0.213, "y": 0.118 }, "kind": "title", "text": "3. SEASONAL CASHFLOW", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "88875715-82f3-44b9-b78c-953b2e830b77", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [ { "name": "Audience Definition", "slug": "audience-definition", "agent": "Storyteller", "layer": "slide", "matchId": "bb8c5d2f-63d5-4332-a545-da3bb48e424a", "evidence": "The Executive Board has continued to place significant focus on the review of the Group's cash flow position.", "confidence": 0.7 } ], "frameworks": [], "arcBeats": [], "loops": [ { "to": 45, "from": 40, "name": "Cost Of Inaction", "slug": "27-cost-of-inaction", "bestFor": "Urgent budget requests, compliance, risk mitigation", "matchId": "102df71e-d964-45cf-8456-fd55cf1df3b8", "evidence": "The document discusses risks such as climate change and cyber security threats", "position": 1, "objective": "Highlight the risks of not addressing sustainability and risk management", "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point", "confidence": 0.6, "description": "Quantify what happens if the audience does nothing" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }