TUI Group’s tourism operations in UK steady despite Frankfurt listing shift

Friday, April 12, 2024

UK-based TUI companies will continue to operate as central components of the organization, unaffected by the group’s transition in stock exchange listing from London to Frankfurt. These entities will remain integral to TUI’s operations and services for its customers.

CEO Sebastian Ebel: “As of today, Frankfurt is once again TUI’s stock exchange location. We are placing a clear focus on one stock exchange listings instead of two. This step reflects the transformation of the Group. As a brand, TUI is at home in the world, with a strong presence in Europe and in destinations in more than 100 countries around the world, with its headquarters and stock exchange listing in Germany. We want to continue to grow profitably and support this growth and create more value with simpler structures.”

Today marks the return of TUI AG shares to the Prime Standard of the Frankfurt Stock Exchange after approximately ten years. The occasion was commemorated by TUI Group CEO Sebastian Ebel and CFO Mathias Kiep, who initiated trading by ringing the bell at the Frankfurt Stock Exchange. The initial share price was set at €7.73, with expectations to join the MDAX on June 24, following the termination of the listing on the London Stock Exchange.

Sebastian Ebel, CEO of TUI Group: “Today is a milestone for TUI, reflecting the transformation of the Group. As of today, Frankfurt is our stock exchange again. We are thus placing a clear focus on one stock exchange listing – instead of two previously two. This increases the visibility and attractiveness of our share for our global investors. As a brand, TUI is at home in the world, with a strong presence in Europe and in destinations in more than 100 countries around the world, as well as its headquarters and stock exchange listing in Germany. We want to expand our international presence, continue to grow profitably and support this growth with simpler structures. By doing so, we will create more value for the company, its employees, customers and shareholders.”

From its origins as a tour operator in Hanover and Berlin, TUI has evolved into a premier global tourism conglomerate. It now boasts five airlines, three cruise lines, globally recognized hotel brands, and roughly 400 owned hotels. Additionally, TUI offers a platform for experiences and activities, maintaining a significant presence worldwide. In Europe, TUI connects with customers through over 1,200 travel agencies, service centers, and online sales platforms. The synergy of physical and online distribution ensures a diverse product range and consistent, high-quality service and advice, a commitment TUI pledges to uphold.

The future is geared towards profitable growth, with more customers, new products and new markets to be developed. Digitalisation offers many new opportunities for the tourism group. Structures are becoming simpler and leaner where there is no impact on the customer or where customers are relieved supported by technical innovation and digitalisation. Many countries where the TUI brand is already well known, are now exclusively destinations for holidaymakers. “We also want to develop them as local source markets for customers and use the awareness of the TUI brand for new growth,” says Sebastian Ebel. In addition, dynamically packaged products and app sales are to drive the Group’s growth.

The group is also enhancing quality and service across all sectors, including a focus on sustainable business practices. TUI has established ambitious emission reduction goals for all its business areas, validated for 2030 by the independent Science Based Targets initiative (SBTi).

Mathias Kiep, CFO of TUI Group: “The change of the dual listing structure and the return to the Prime Standard in Frankfurt was a carefully considered decision that was supported by our shareholders with an impressive majority (98.35 percent). With today’s step, we are simplifying structures, consolidating liquidity in one trading venue and thus strengthening TUI and its global brand presence. We want to continue to grow successfully and TUI should remain an attractive long-term investment for current and new shareholders.”

Since merging with the former British TUI Travel Plc at the end of 2014, TUI’s shares have been listed in London’s premium segment and on the regulated markets of the Hanover Stock Exchange and the OTC market in Frankfurt. The initial decision to list in London was crucial for the successful acquisition and integration of TUI Travel Plc into the TUI Group. Over time, as the group has transformed, share custody and liquidity have increasingly moved towards Germany, leading to discussions about altering the dual listing structure. As per the resolutions from the 65th Annual General Meeting in February 2024, the dual listing will be discontinued. However, this change in stock exchange location will not affect TUI’s operations and commitment in the UK market, which remains a pivotal area for the group.

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