EANS-Adhoc: TUI AG
TUI AG lifts forecast for Container Shipping
-------------------------------------------------------------------------------- ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------------
06.07.2010
Hanover, 6 July 2010. Due to a notable recovery in global container shipping, TUI AG expects its 43.33% stake in Hapag-Lloyd to generate higher profit contributions than initially forecasted. Since the presentation of the half-year report in mid-May 2010, the positive trend shown by Hapag-Lloyd has strengthened. Transport volumes and in particular freight rates have continually improved over recent months and are considerably up year-on-year. The Executive Board of TUI AG therefore now expects Hapag-Lloyd to post significantly positive operating earnings (underlying EBITA).
Against this background, the result from Container Shipping, measured at equity and included in TUI AG´s Group result, is therefore expected to be clearly positive.
Prospects for core business Tourism remain unchanged. TUI AG will present further details concerning the development of business operations when publishing its interim report for the third quarter on 11 August 2010.
Some of the information in this press release may contain predictions, expectations or forward-looking statements. These statements may entail known or unknown risks or uncertainties. Actual results and developments may therefore differ materially from the expressed expectations and assumptions. The performance of financial markets, the development of exchange rates, amendments to national and international laws, in particular concerning tax regulations, may also have an impact. Except as provided by law, the Company undertakes no obligation to update forward-looking statements.
end of announcement euro adhoc --------------------------------------------------------------------------------
Further inquiry note:
Investor Relations contact:
Björn Beroleit, phone +49 (0) 511 566 1310
Nicola Gehrt, phone +49 (0) 511 566 1435
Media contact:
Uwe Kattwinkel, phone +49 (0) 511 566 1417
Robin Zimmermann, phone +49 (0) 511 566 1488
Branche: Transport
ISIN: DE000TUAG000
WKN: TUAG00
Index: MDAX, CDAX, HDAX, Prime All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / regulated dealing
Hamburg / regulated dealing
Stuttgart / regulated dealing
Düsseldorf / regulated dealing
Hannover / regulated dealing
München / regulated dealing
Original-Content von: TUI AG, übermittelt durch news aktuell