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  "documentTitle": "2024 Annual Report",
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  "notes": "Includes a table of projected world output by region for 2024 and 2025.",
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      "text": "Overall, the operating and financial indicators showed a positive year-on-year development, as expected in our guidance.",
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      "text": "Underlying EBIT: €1,296.2 m",
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      "text": "The net costs of €20.9 m adjusted in the income statement in the period under review were below the forecast range of net costs of €25 m to €35 m, as the restructuring expenses incurred were offset by positive gains on disposal.",
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      "text": "Due to the substantial recovery in underlying EBIT, financial year 2024 also saw significant improvements in ROIC and Economic Value Added, surpassing expectations. TUI Group's ROIC stood at 24.88% (previous year 19.10%).",
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      "kind": "paragraph",
      "text": "MACROECONOMIC SITUATION AND MARKET DEVELOPMENT IN TOURISM. Several economic policy parameters and structural problems are holding back a significant increase in global economic expansion.",
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      "text": "Actual business performance 2024 compared with our guidance. Overall, the operating and financial indicators showed a positive year-on-year development, as expected in our guidance.",
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      "text": "In the period under review, revenue by TUI Group rose from €20.7 bn to €23.2 bn. The year-on-year growth of 11.3% at constant currency thus matched the increase of at least 10% assumed in our guidance.",
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      "text": "Likewise, TUI Group's underlying EBIT rose by €319.0 m to an operating profit of €1,296.2 m in financial year 2024. The percentage improvement in underlying EBIT at constant currency of 35.4% was above the figure of at least 25% stated in our guidance.",
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