Europe Movers: Coca Cola HBC, ThyssenKrupp, TUI

Bridgette Randall
14 Feb, 2023
Frankfurt

TUI AG increased 1.7% to 173.70 pence after the holiday tour operator said pre-bookings for summer and winter travels are ahead of pre-pandemic levels. 

Revenue in the fiscal year 2023 first quarter ending in December increased to €3.8 billion compared to  €2.4 billion a year ago. 

The number of customers increased to 3.3 million, an increase of 1.0 million from the previous year and 93% of the corresponding period in 2019. 

Operating loss in the quarter shrank to €153.0 million from €273.6 million a year ago. 

With 8.7 million bookings for the winter and summer travels, booking volume in the last four weeks are 5% higher for winter and 10% for summer travel compared to pre-pandemic levels. 

At the end of the quarter, net debt increased to €5.2 billion from €5.0 billion a year ago.  

ThyssenKrupp AG declined 10.8% to €6.31 after the German company said operating profit fell by nearly one third in the fiscal first quarter. 

Sales in the first quarter matched the previous quarter of  €9 billion and new orders declined to €9.2 billion from €10.4 billion in the corresponding period a year ago. 

Adjusted operating earnings or adjusted EBIT declined to €254 million, below the prior-year level of €378 million on higher raw materials costs. 

The company reiterated its fiscal year 2023 outlook. 

"Automotive Technology improved order intake by 27% to €1.4 billion and sales by 18% to €1.3 billion. 

Strong customer demand was especially evident in the automotive original equipment business, but the supply of semiconductors remained limited," the company added in its earnings statement. 

 Overall net income declined to €98 million in the fiscal first quarter from €122 million a year ago. 

After deducting minority interest, net income declined to €75 million from €106 million and earnings per share dropped to €0.12 from €0.17 a year ago.

Coca-Cola HBC increased 5.1% to 2,040.29 pence after the beverage company said comparable net income in the year 2022 rose 8.1% from a year ago. 

Unit sales increased 12.4% to 2.7 million cases from 2.4 million and net sales increased 28.3% to €9.2 billion from €7.2 billion a year ago. 

Net income in the year declined 24.1% to €415 million from €547.2 million but comparable profit increased 8.1% to €624.9 million from €578.1 million a year ago. 

Coca-Cola volumes grew 9.1%, led by ongoing strong performance from Coke Zero, while Fanta grew 3.8% and Sprite 4.7%, outside of Russia and Ukraine.