TUI AG's 2007 adjusted earnings rose sharply as its shipping unit Hapag-Lloyd saw earnings more than double, the Anglo-German tourism and shipping group said on Tuesday.
In a preliminary earnings statement, TUI said adjusted earnings before interest, tax and amortisation (EBITA) were up 47 percent to 616 million euros ($934.4 million). Sales in 2007 rose 7 percent to 21.9 billion euros.
For 2007, TUI had forecast tourism EBITA to be on the same level as 2006, excluding the acquisition of Britain's First Choice. At Hapag-Lloyd, EBITA rose 121 percent to 197 million euros, TUI said. It had said it expected shipping EBITA in 2007 to be clearly better than 2006.
TUI releases detailed 2007 and fourth-quarter earnings on March 18. It did not provide a 2008 forecast on Tuesday.
In a preliminary earnings statement, TUI said adjusted earnings before interest, tax and amortisation (EBITA) were up 47 percent to 616 million euros ($934.4 million). Sales in 2007 rose 7 percent to 21.9 billion euros.
For 2007, TUI had forecast tourism EBITA to be on the same level as 2006, excluding the acquisition of Britain's First Choice. At Hapag-Lloyd, EBITA rose 121 percent to 197 million euros, TUI said. It had said it expected shipping EBITA in 2007 to be clearly better than 2006.
TUI releases detailed 2007 and fourth-quarter earnings on March 18. It did not provide a 2008 forecast on Tuesday.
