TUI AG (OTCPK:TUIFF)

$ 9.13 0.03 (0.33%) Market Cap: 4.58 Bil Enterprise Value: 4.79 Bil PE Ratio: 8.15 PB Ratio: 10.58 GF Score: 70/100

Half Year 2020 Tui AG Earnings Call Transcript

May 13, 2020 / 08:00AM GMT

Release Date Price: $24.35

Transcript

Operator

Good morning, ladies and gentlemen, and welcome to the TUI AG Conference Call COVID-19 Update and FY '20 H1 Results. (Operator Instructions)

Let me now turn the floor over to your host, Friedrich Joussen and Birgit Conix.

Friedrich Joussen

TUI AG - Chairman of Executive Board & CEO

So thank you very much. Good morning, everybody. I hope you are well and healthy. This is important in these times. Thank you very much for joining in the Q1 -- Q2 results call, and I'm not a 100% sure that I understand who turns the pages. Are we turning the pages? Okay. Good. So we will be actually now turning to Page #4, please.

Undoubtedly, COVID-19 is the greatest crisis for tourism and TUI which has ever happened. And we were just in Q1 in full steam ahead. As you know, we -- in January was the best booking month in the year, up 14%, customers; 17% revenues for summer bookings. And then suddenly, mid-end March, stop, no revenue. I mean, this is unprecedented. And I think no revenue until today, it's an interesting experience also for myself to run a

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