Annual Report 2007 New Dimensions. New
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Financial Calendar 2008 TUI AG Annual Report 2007 Brief Profile Karl-Wiechert-Allee 4 30625 Hanover New Dimensions. Annual General Meeting 2008 7 May 2008* Germany Interim Report January to March 2008 15 May 2008* New Opportunities. Interim Report January to June 2008 14 August 2008* Interim Report January to September 2008 14 November 2008* Annual Report 2007 * scheduled Contact TUI is a global player in tourism and shipping. In the tourism division, the merger with First Choice created TUI Travel PLC, one of the world’s largest tourism companies. With Hapag-Lloyd, the shipping TUI AG segment operates the fifth-largest container shipping company in Karl-Wiechert-Allee 4 30625 Hanover the world. In both divisions, customers regard TUI as a top-rank Germany provider. P. O. Box 61 02 09 The good market position occupied by the divisions and the expan- 30602 Hanover sion of the tourism segment with the new TUI Travel PLC in 2007 have established a secure basis for further growth across the TUI Phone +49.511.566-00 Telefax +49.511.566-1901 Group. E-Mail [email protected] Internet www.tui-group.com Investor Relations E-Mail [email protected] Phone +49.511.566-1425 Telefax +49.511.566-1096 Group Communications E-Mail [email protected] Phone +49.511.566-1408 Telefax +49.511.566-1166 TUI AG Financial Calendar 2008 TUI AG Annual Report 2007 Brief Profile Karl-Wiechert-Allee 4 30625 Hanover New Dimensions. Annual General Meeting 2008 7 May 2008* Germany Interim Report January to March 2008 15 May 2008* New Opportunities. Interim Report January to June 2008 14 August 2008* Interim Report January to September 2008 14 November 2008* Annual Report 2007 * scheduled Contact TUI is a global player in tourism and shipping. In the tourism division, the merger with First Choice created TUI Travel PLC, one of the world’s largest tourism companies. With Hapag-Lloyd, the shipping TUI AG segment operates the fifth-largest container shipping company in Karl-Wiechert-Allee 4 30625 Hanover the world. In both divisions, customers regard TUI as a top-rank Germany provider. P. O. Box 61 02 09 The good market position occupied by the divisions and the expan- 30602 Hanover sion of the tourism segment with the new TUI Travel PLC in 2007 have established a secure basis for further growth across the TUI Phone +49.511.566-00 Telefax +49.511.566-1901 Group. E-Mail [email protected] Internet www.tui-group.com Investor Relations E-Mail [email protected] Phone +49.511.566-1425 Telefax +49.511.566-1096 Group Communications E-Mail [email protected] Phone +49.511.566-1408 Telefax +49.511.566-1166 TUI AG Tourism Forward-looking Statements Table of Contents TUI Travel PLC TUI’s tourism segment merged with the British travel group First Choice in 2007 (excluding hotel interests which were consolidated under TUI Hotels & Resorts). The result was one of the world’s largest travel groups which operates as TUI Travel PLC. The new company is headquartered in Great Britain and is listed on the London Stock Exchange. With a 51 per cent stake as per 31 December 2007, TUI AG was the majority shareholder. As a result, the company was fully consoli- dated in the Group’s annual financial statements. The new TUI Travel PLC’s The annual report, in particular the report on expected developments 4 To our Shareholders 108 Corporate Governance business is made up of the four sectors – Mainstream Holidays, Specialist Holi- included in the management report, includes various forecasts and expectations as well as statements relating to the future development 110 Corporate Governance Report days, Activity Holidays and Online Destination Services. With around 30 million of the TUI Group and TUI AG. These statements are based on assump- 114 Supervisory Board customers, TUI Travel PLC operates in 180 countries worldwide. tions and estimates and may entail known and unknown risks and 117 Executive Board TUI Hotels & Resorts uncertainties. Actual development and results as well as the financial 26 Management Report 118 Report of the Supervisory Board The TUI Group’s hotel activities are bundled in TUI Hotels & Resorts. With its and asset situation may therefore differ substantially from the expecta- 123 TUI Share tions and assumptions made. This may be due to market fluctuations, 28 Business and Operating Environment 128 TUI Group in Figures 237 hotels and over 144,000 beds, TUI Hotels & Resorts is Europe’s largest the development of world market prices for commodities, of financial 40 Group Turnover and Earnings 129 Sustainable Development holiday hotel provider. The portfolio – with its focus on 4-star hotels – includes markets and exchange rates, amendments to national and international 47 Tourism such brands as Riu, Robinson and Grecotel. This business is operated directly legislation and provision or fundamental changes in the economic and 56 Shipping by TUI AG. political environment. TUI does not intend to and does not undertake 63 Earnings an obligation to update or revise any forward-looking statements to 68 Net Assets 136 Financial Statements adapt them to events or developments after the publication of this 73 Financial Position annual report. 84 Report on Subsequent Events 138 Consolidated Profit and Loss Statement 85 Risk Report 139 Consolidated Balance Sheet Shipping 92 Remuneration Report 140 Statement of Recognised Income Imprint 98 Research and Development and Expenses Container shipping 100 Human Resources 140 Cash Flow Statement The Hamburg-based shipping company Hapag-Lloyd provides container line trans- Concept, design and production 102 Environmental Protection port and logistics services for container transport in over 100 countries. Since HGB Hamburger Geschäftsberichte GmbH & Co. KG, Hamburg 104 Report on Expected Developments the 2005 acquisition of CP Ships, the Canadian container line, the company has Irlenkäuser Communication GmbH, Düsseldorf 141 Notes become one of the world’s five largest lines. The fleet is made up of 141 con- Photography tainer ships with a total transport capacity of 493 000 standard containers. Armin Brosch (pg. 4) 141 Notes on the Principles and Methods The ships operate globally in the Far East, Trans-Pacific, Atlantic, Latin America Hapag-Lloyd (Cover, pg. 20-27, S. 56) 162 Segment Reporting and Australasia. World of TUI Picture Pool (Cover, pg. 12-19, S. 47) 171 Notes on the Consolidated Profit and Loss Statement Cruises Printing 181 Notes on the Consolidated Balance Sheet Hapag-Lloyd Kreuzfahrten is one of the leading providers of premium and luxury ColorDruckLeimen GmbH 223 Major Shareholdings cruises in the German-speaking area. Expedition cruises are another important 224 Notes on the Cash Flow Statement focus. The fleet flagship is the ‘Europa.’ 226 Other Notes 229 Responsibility Statement by Management Royal Caribbean Cruises Ltd. and TUI AG announced in 2007 to launch a joint 230 Auditor‘s Report venture serving the German cruises market. The new company, TUI Cruises will begin service with one ship in 2009. The German version of this report is legally binding. The Company can- not be held responsible for any misunderstandings or misinterpretations arising from this translation. Both versions are available on the web: www.tui-group.com. Tourism Forward-looking Statements Table of Contents TUI Travel PLC TUI’s tourism segment merged with the British travel group First Choice in 2007 (excluding hotel interests which were consolidated under TUI Hotels & Resorts). The result was one of the world’s largest travel groups which operates as TUI Travel PLC. The new company is headquartered in Great Britain and is listed on the London Stock Exchange. With a 51 per cent stake as per 31 December 2007, TUI AG was the majority shareholder. As a result, the company was fully consoli- dated in the Group’s annual financial statements. The new TUI Travel PLC’s The annual report, in particular the report on expected developments 4 To our Shareholders 108 Corporate Governance business is made up of the four sectors – Mainstream Holidays, Specialist Holi- included in the management report, includes various forecasts and expectations as well as statements relating to the future development 110 Corporate Governance Report days, Activity Holidays and Online Destination Services. With around 30 million of the TUI Group and TUI AG. These statements are based on assump- 114 Supervisory Board customers, TUI Travel PLC operates in 180 countries worldwide. tions and estimates and may entail known and unknown risks and 117 Executive Board TUI Hotels & Resorts uncertainties. Actual development and results as well as the financial 26 Management Report 118 Report of the Supervisory Board The TUI Group’s hotel activities are bundled in TUI Hotels & Resorts. With its and asset situation may therefore differ substantially from the expecta- 123 TUI Share tions and assumptions made. This may be due to market fluctuations, 28 Business and Operating Environment 128 TUI Group in Figures 237 hotels and over 144,000 beds, TUI Hotels & Resorts is Europe’s largest the development of world market prices for commodities, of financial 40 Group Turnover and Earnings 129 Sustainable Development holiday hotel provider. The portfolio – with its focus on 4-star hotels – includes markets and exchange rates, amendments to national and international 47 Tourism such brands as Riu, Robinson and Grecotel. This business is operated directly legislation and provision or fundamental changes in the economic and 56 Shipping by TUI AG. political environment. TUI does not