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Sept. 28, 2017, 2:50 a.m. EDT

TUI backs guidance despite impact of hurricanes

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By Adria Calatayud

Travel company TUI AG (TUI1.XE) on Thursday backed its guidance for fiscal 2017 of at least a 10% rise in underlying earnings before interest, taxes and amortization, or Ebita, despite its operations in the Caribbean and Florida being affected by recent hurricanes.

The London-listed, German tour operator said the summer 2017 season is closing out almost fully sold at 97%, in line with expectations for the fiscal year ending Sept. 30. Growth in customer volumes was achieved, TUI said, helped by strong demand in Nordics, Germany and Benelux.

Trading for future seasons is in line with expectations, TUI added. The company said that more than a third of its program for winter 2017/2018 is sold, with revenues booked to date up 7% and customer volumes up 3%.

TUI said there are external factors that can create uncertainty in specific markets and destinations and impact parts of its business. But it added that it was confident it would meet its guidance of at least 10% growth in Ebita, the company's preferred measure that strips out exceptional and other one-time items.

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