Environmental Report 2019 Interim Edition Contents
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CRUISE UPDATE No
CRUISE MARCH UPDATE 01 2015 Knut Utstein Kloster Carnival Cruises Quantum of the Seas DNV GL CONTENT The inventor of modern cruise ..................................................4 Star Cruises games up with new ships ...................................22 Building the biggest - ever cruise line from scratch ...............8 Upbeat Chinese cruise industry .............................................26 Effective and efficient risk management DNV GL establishes Greater China cruise center ................. 30 is more critical than ever ............................................................12 Scrubbers, LNG or combinations – Wärtsilä ...........................32 Quantum Leap ...........................................................................14 Environmental regulations – the case for foresight ...............34 The Mein Schiff series – manufactured in Finland for a German-speaking market .................................................18 Front cover photo: © Knut Utstein Kloster. Knut Utstein Kloster pictured beneath ships bell from his first ship, M/S Sunward 04 08 14 © DNV GL/Magne.A.Røe © DNV 2 CRUISE UPDATE No. 01 2015 EDITORIAL Welcome to DNV GL Cruise Update 2015. I hope this edition can provide some reflec- tions and inspiration that can help to create a safer, smarter and greener cruise industry. © DNV GL/Per Sverre Wold-Hansen Sverre GL/Per © DNV There is no industry like the cruise industry. Later this year, we celebrate the 50th anni- versary of the keel-laying of the Sunward, the vessel that started the era of the modern cruise industry in 1966. Over the years, we have seen an incredible improvement in what cruise ships can offer passengers. The vessels are becoming more and more advanced as regards both maritime technology and passenger experience. The cruise industry is often seen as leading when it comes to implementing new technology and to be con- stantly striving to find better solutions. -
TUI AG FINANCIAL YEAR 2010/11 Interim Report 1
TUI AG FINANCIAL YEAR 2010/11 Interim Report 1. October 2010 – 31. December 2010 TUI AG Karl-Wiechert-Allee 4 30625 Hanover Germany DECEMBER Q1 2010/11 OCTOBER NOVEMBER DECEMBER Q1 2010/11 OCTOBER NOVEMBER DECEMBER Q1 2010/11 OCTOBER NOVEMBER DECEMBER Q1 2010/11 OCTOBER NOVEMBER DECEMBER Q1 2010/11 OCTOBER NOVEMBER DECEMBER Q1 2010/11 OCTOBER NOVEMBER DECEMBER Q1 2010/11 OCTOBER NOVEMBER DECEMBER Q1 2010/11 OCTOBER NOVEMBER DECEMBER Q1 2010/11 OCTOBER NOVEMBER DECEMBER Q1 2010/11 OCTOBER NOVEMBER DECEMBER Q1 2010/11 OCTOBER NOVEMBER RZ 10-05-0074 Q1_engl 2011_Umschlag.indd 1 07.02.11 11:47 Table of Contents 2 Economic Situation in Q1 2010/11 29 Interim Financial Statements Financial Calendar Calendar 2 General Economic Situation 29 Income Statement 30 Condensed Statement of Comprehensive Income Half-Year Report 2010/11 12 May 2011 2 Special Events in the Quarter Under Review 31 Statement of Financial Position Interim Report Q3 2010/11 11 August 2011 32 Condensed Statements of Changes in Equity Annual Report 2010/11 - Press Conference & Analysts‘ Meeting 14 December 2011 3 Earnings by the Sectors 32 Condensed Cash Flows Statement 3 Development of Turnover 4 Development of Earnings 5 TUI Travel 33 Notes 8 TUI Hotels & Resorts 13 Cruises 33 Accounting Principles 15 Central Operations 33 Group of Consolidated Companies 16 Information on Container Shipping 34 Acquisitions - Divestments 36 Notes on the Consolidated Income Statement 18 Consolidated Earnings 38 Notes on the Consolidated Statement of Financial Position 20 Net Assets and Financial -
Annual Report of the Tui Group 2019 2019 Annual Report of the Tui Group 2019 Financial Highlights
ANNUAL REPORT OF THE TUI GROUP 2019 2019 ANNUAL REPORT OF THE TUI GROUP THE OF REPORT ANNUAL 2019 FINANCIAL HIGHLIGHTS 2019 2018 Var. % Var. % at adjusted constant € million currency Turnover 18,928.1 18,468.7 + 2.5 + 2.7 Underlying EBITA1 Hotels & Resorts 451.5 420.0 + 7.5 – 4.9 Cruises 366.0 323.9 + 13.0 + 13.2 Destination Experiences 55.7 45.6 + 22.1 + 20.4 Holiday Experiences 873.2 789.5 + 10.6 + 3.6 Northern Region 56.8 278.2 – 79.6 – 77.1 Central Region 102.0 94.9 + 7.5 + 7.0 Western Region – 27.0 124.2 n. a. n. a. Markets & Airlines 131.8 497.3 – 73.5 – 72.2 All other segments – 111.7 – 144.0 + 22.4 + 18.5 TUI Group 893.3 1,142.8 – 21.8 – 25.6 EBITA2, 3 768.4 1,054.5 – 27.1 Underlying EBITDA3, 4 1,359.5 1,554.8 – 12.6 EBITDA3, 4 1,277.4 1,494.3 – 14.5 EBITDAR3, 4, 5 1,990.4 2,215.8 – 10.2 Net profi t for the period 531.9 774.9 – 31.4 Earnings per share3 in € 0.71 1.17 – 39.3 Equity ratio (30 Sept.)6 % 25.6 27.4 – 1.8 Net capex and investments (30 Sept.) 1,118.5 827.0 + 35.2 Net debt / net cash (30 Sept.) – 909.6 123.6 n. a. Employees (30 Sept.) 71,473 69,546 + 2.8 Diff erences may occur due to rounding. This Annual Report 2019 of the TUI Group was prepared for the reporting period from 1 October 2018 to 30 September 2019. -
Annual Report 2017 Contents & Financial Highlights
ANNUAL REPORT 2017 CONTENTS & FINANCIAL HIGHLIGHTS TUI GroupFinancial 2017 in numbers highlights Formats The Annual Report and 2017 2016 Var. % Var. % at the Magazine are also available online € 18.5 bn € 1,102.1restated m constant € million currency Turnover 18,535.0 17,153.9 + 8.1 + 11.7 Underlying EBITA1 1 1 + 11.7Hotels & %Resorts + 12.0356.5 % 303.8 + 17.3 + 19.2 Cruises 255.6 190.9 + 33.9 + 38.0 Online turnoverSource Markets underlying526.5 554.3 – 5.0 – 4.0 Northern Region 345.8 383.1 – 9.7 – 8.4 year-on-year Central Region 71.5 85.1 – 16.0 – 15.8 Western Region EBITA109.2 86.1 + 26.8 + 27.0 Other Tourism year-on-year13.4 7.9 + 69.6 + 124.6 Tourism 1,152.0 1,056.9 + 9.0 + 11.2 All other segments – 49.9 – 56.4 + 11.5 + 3.4 Mobile TUI Group 1,102.1 1,000.5 + 10.2 + 12.0 Discontinued operations – 1.2 92.9 n. a. Total 1,100.9 1,093.4 + 0.7 http://annualreport2017. tuigroup.com EBITA 2, 4 1,026.5 898.1 + 14.3 Underlying EBITDA4 1,541.7 1,379.6 + 11.7 56 %EBITDA2 4 23.61,490.9 % ROIC1,305.1 + 14.2 Net profi t for the period 910.9 464.9 + 95.9 fromEarnings hotels per share4 & € 6.751.36 % WACC0.61 + 123.0 Equity ratio (30 Sept.)3 % 24.9 22.5 + 2.4 cruisesNet capex and contentinvestments (30 Sept.) 1,071.9 634.8 + 68.9 comparedNet with cash 30 %(302 at Sept.) time 4of merger 583.0 31.8 n. -
Mein Bord-Abc
MEIN BORD-ABC Alleinreisende Gäste Ausflüge Zu Beginn jeder Reise laden wir zu einem Treffen der alleinreisen- Die Landausflüge werden größtenteils von TUI Cruises vermittelt den Gäste ein. Das Treffen bietet die Möglichkeit zum lockeren und von örtlichen Agenturen veranstaltet. Die Durchführung, Kennenlernen in entspannter Runde. Im Atlantik – Klassik sind Verantwortung und Haftung für diese Ausflüge liegt allein in den während der gesamten Reise abends Tische reserviert, an denen Händen des jeweiligen örtlichen Veranstalters, der zugleich Ihr Ver- alleinreisende Gäste zwanglos miteinander speisen können. tragspartner ist. Ein Teil der Ausflüge wird durch TUI Cruises selbst veranstaltet. Details finden Sie unter Ärztliche Betreuung www.tuicruises.com/landausfluege Ein modernes Hospital mit deutschsprachigen Schiffsärzten, Bitte beachten Sie, dass der Standard von Restaurants und Bus- ausgebildeten deutschsprachigen Pflegekräften und vorrangig sen nicht überall europäischen Maßstäben entspricht. Wo keine deutschen Arzneimitteln befindet sich auf jedem Schiff. Das deutschsprachigen Reiseleiter zur Verfügung stehen finden Aus- Sortiment in der Bordapotheke ist für allgemeine Erkrankun- flüge gegebenenfalls in englischer Sprache statt. Änderungen von gen und Notfallbehandlungen ausgestattet. Die Ausstattung Ablauf und Preis sind jederzeit vorbehalten. Unsere Ausflugsexper- des Bordhospitals ist nicht auf die Versorgung von Babys ten im Landausflugsbereich beraten Sie gerne. und Kleinkindern spezialisiert, im Notfall werden diese aber selbstverständlich -
TUI Group Investor Presentation
TUI Group Investor Presentation March 2019 What is TUI Group? Hotel & Resorts, Cruises and Destination Experiences holiday experiences “product” provider with own distribution and fulfilment KEY HIGHLIGHTS HOLIDAY EXPERIENCES €426m Leading leisure hotel and club brands around 27m customers (1) EBITA the world; investments, operations, ownership €324m €19.5bn revenues EBITA Leading German & UK cruise brands €45m (2) Tours, activities and service provider in €1.15bn EBITA EBITA destination % 23.0% ROIC MARKETS & AIRLINES % 10.9% (3) earnings growth €453m Market leaders in packaged distribution, fulfilment, EBITA strong market and customer knowledge 1 21m Markets & Airlines plus further 2m from Cruise and from our strategic joint ventures in Canada and Russia totals 23m; in addition 4m from customers direct and via 3rd party channels to our Hotels & Resorts and Cruise brands 2 Underlying; 3 According to company guidance earnings growth is at constant currency 2 TUI GROUP | Investor Presentation | March 2019 Market environment: TUI has moved on and developed into an integrated provider of Holiday Experiences OTAs “Best and unique product, “Depth of offering“ individualised offering“ • Agent model, trading margin • Dynamic packaging • No/ limited risk capacity • Own hotels, flights and cruises: • Increasingly dynamic packaging ̶ Yielding of risk capacities ̶ Own distribution & fulfillment Tour operators ̶ Double diversification “Packaged holidays“ • Packaging of hotel & flight, fulfillment Airlines • Trading margin leveraged by “Ancillary packages“ -
Cruise Ships on Order 2016-2027
CRUISE SHIPS ON ORDER 2016-2027 Ship‘s Name / Year Cruise Line Operator Class Hull No. GT pax/max Month Yard Diesel Engines Price Mill. USD 2 016 Carnival Vista Carnival RINA 6242 133 500 3 954 April Fincantieri, Monfalcone (2) 14V MAN 48/60CR 780 (Vista Class I) (3) 8L MAN 48/60CR Koningsdam HAL LR 6241 99 800 2 660 April Fincantieri, Marghera (4) 12V MaK M43C 550 (Pinnacle Class I) Ovation of the Seas RCCL DNV-GL 699 168 666 4 180 May Meyer Werft, Papenburg (2) 12V Wärtsilä 46F 1 000 (Quantum Class III) Financing by KfW IPEX-Bank from Germany (2) 16V Wärtsilä 46F (2) CAT 3516 HD Harmony of the Seas RCCL DNV-GL A34 226 000 5 400 June STX France, St. Nazaire (3) 12V Wärtsilä 46D 1 300 (Oasis Class III) (3) 16V Wärtsilä 46D Royal Caribbean has got an unsecured loan for up to t 892 million to finance its third Oasis-class cruise ship. COFACE, the export credit agency of France, will guarantee 100% of the financing, according to a filing. As soon as the loan is funded, it will amortize semi-annually and will mature 12 years as soon as STX France shipyard delivers the new ship. Interest on the loan is expected to accrue at a fixed rate of 2.6%, including the applicable margin, or at a floating rate equal to EURIBOR plus 1.15%. Société Générale is serving as facility agent and mandated lead arranger, BNP Paribas as documentation bank and mandated lead arranger, and HSBC France as mandated lead arranger. -
Dining on Board
Additional culinary highlights on board Osteria – Pizza e Pasta La dolce vita on board – eat and drink just as if you were on holiday in Italy DINING ON BOARD. Cucimare – Ganz Schön Gesund – Bistro ® Home-made pizza und and pasta, fresh Ristorante in der Manufaktur Restaurants and bistros on board the Mein Schiff fleet. salads and seductive “dolci” (desserts) Daily recommendations and top-class Italian wines Open at midday and in the evenings with table service Available on: Premium All Inclusive Table service IMPORTANT INFORMATION Manufaktur – Kreativ-Küche A wide range of workshops and tastings take place on the digital tables Watch the chef de cuisine at work Available on: Table service Ganz Schön Gesund – Bistro Balanced and healthy nutrition Fresh and carefully chosen ingredients, prepared with care La Spezia – Italienisch genießen Available on: Premium All Inclusive Table service * Included in the price of the cruise are a wide and varied range of culinary offerings and branded drinks in premium quality available in most bars and restaurants throughout the day as well as access to the SPA & Sport area, entertainment and child care. TUI Cruises GmbH · Heidenkampsweg 58 · 20097 Hamburg · Germany | Valid as of: March 2019 Flavour ahoy, farewell to the bill. Available on: À la carte or combined to match individual preferences – on board the Mein Schiff ® fl eet you have freedom Table service to choose what to eat and drink every day. And thanks to Premium All Inclusive, in most restaurants it is all without any additional cost. Cucimare – Ristorante in der Manufaktur Hanami – By Tim Raue Expert tip The “Ruam Gan” – On the following pages, we present the Delicious dishes with a hint of the Italian Available on: Authentic Far Eastern cuisine by the award-winning an exclusive 5-course various restaurants on the Mein Schiff ® Home-made pasta creations, fi sh, meat and vegetarian chef Tim Raue set meal and a culinary fl eet. -
Pdf 1 20/04/12 14:21
Discover Barcelona. A cosmopolitan, dynamic, Mediterranean city. Get to know it from the sea, by bus, on public transport, on foot or from high up, while you enjoy taking a close look at its architecture and soaking up the atmosphere of its streets and squares. There are countless ways to discover the city and Turisme de Barcelona will help you; don’t forget to drop by our tourist information offices or visit our website. CARD NA O ARTCO L TIC K E E C T R A B R TU ÍS T S I U C B M S IR K AD L O A R W D O E R C T O E L M O M BAR CEL ONA A A R INSPIRES C T I I T C S A K Í R E R T Q U U T E O Ó T I ICK T C E R A M A I N FOR M A BA N W RCE LO A L K I NG TOU R S Buy all these products and find out the best way to visit our city. Catalunya Cabina Plaça Espanya Cabina Estació Nord Information and sales Pl. de Catalunya, 17 S Pl. d’Espanya Estació Nord +34 932 853 832 Sant Jaume Cabina Sants (andén autobuses) [email protected] Ciutat, 2 Pl. Joan Peiró, s/n Ali-bei, 80 bcnshop.barcelonaturisme.cat Estación de Sants Mirador de Colom Cabina Plaça Catalunya Nord Pl. dels Països Catalans, s/n Pl. del Portal de la Pau, s/n Pl. -
Celebrity Cruises Inc. 1050 Caribbean Way, Miami, Florida, FL-33132-2096, USA and the Vessels As Mentioned in the Appendix Accompanying This Certificate
C ertificate No: Initial certification date: V alid: 1 2 3 078-2012-AE-NOR-NA 25 September 2012 10 August 2017 - 10 August 2022 This is to certify that the management system of Celebrity Cruises Inc. 1050 Caribbean Way, Miami, Florida, FL-33132-2096, USA and the vessels as mentioned in the appendix accompanying this certificate has been found to conform to the Environmental Management System standard: ISO 14001:2015 This certificate is valid for the following scope: The Management and operation of a fleet of cruise ships operating world-wide including shore management support related to ship operation. Place and date: For the issuing office: Høvik, 10 April 2019 DNV GL – Business Assurance Veritasveien 1, 1363 Høvik, Norway Jøran Laukholm Management Representative Lack of fulfilment of conditions as set out in the Certification Agreement may render this Certificate invalid. ACCREDITED UNIT: DNV GL Business Assurance Norway AS, Veritasveien 1, 1363 Høvik, Norway. TEL:+47 67 57 99 00. http://assurance.dnvgl.com C ertificate No: 123078-2012-AE-NOR-NA P lace and date: Høvik, 10 April 2019 Appendix to Certificate Celebrity Cruises Inc. Vessels included in the certification are as follows: Celebrity Edge Celebrity Equinox Celebrity Infinity Celebrity Reflection Celebrity Summit Mein Schiff 1 – TUI Cruises Mein Schiff 2 – TUI Cruises Mein Schiff 3 – TUI Cruises Mein Schiff 4 – TUI Cruises Mein Schiff 5 – TUI Cruises Mein Schiff 6 – TUI Cruises Mein Schiff Herz – TUI Cruises Lack of fulfilment of conditions as set out in the Certification Agreement may render this Certificate invalid. ACCREDITED UNIT: DNV GL Business Assurance Norway AS, Veritasveien 1, 1363 Høvik, Norway. -
TUI Cruises Enjoys (Fail-)Safe Travel with Datacore’S Software-Defined Storage
CASE STUDY “Mein Schiff” Fleet Stays on Course With SANsymphony TUI Cruises enjoys (fail-)safe travel with DataCore’s software-defined storage: July 2016 saw the launch of Mein Schiff 5, the newest cruise ship in the TUI Cruises fleet. The IT infrastructure for the first five members of the fleet was designed on land by BSH IT Solutions, implemented on board within a very narrow time frame, and maintained at sea via the BSH data centers in Greven. DataCore’s software- defined SANsymphony™ storage platform delivers highly available and high- About TUI Cruises performance storage capacity for VMware, SQL and Exchange, among others. TUI Cruises, headquartered The company: TUI Cruises in Hamburg, was founded in TUI Cruises, headquartered in Hamburg, was founded in April 2008. The company April 2008. The company is is a joint venture between TUI AG from Hanover and Royal Caribbean Cruises Ltd., a joint venture between TUI the world’s second-largest cruise company. The cruise brand TUI Cruises, which AG from Hanover and Royal combines the features of a shipping company and a tour operator under one roof, is primarily aimed at the German market. The first member of the TUI Cruises fleet, Caribbean Cruises Ltd., the Mein Schiff 1, was acquired and put into operation in May 2009. Mein Schiff 2 world’s second-largest cruise followed in May 2011. After that, the first new ship was Mein Schiff 3, built three company. The cruise brand years later, followed by Mein Schiff 4 in June 2015 and Mein Schiff 5 in July 2016. -
Mein Schiff” Fleet Stays on Course with Sansymphony TUI Cruises Enjoys (Fail-)Safe Travel with Datacore’S Software-Defined Storage
CASE STUDY “Mein Schiff” Fleet Stays on Course With SANsymphony TUI Cruises enjoys (fail-)safe travel with DataCore’s software-defined storage: July 2016 saw the launch of Mein Schiff 5, the newest cruise ship in the TUI Cruises fleet. The IT infrastructure for the first five members of the fleet was About TUI Cruises designed on land by BSH IT Solutions, implemented on board within a very narrow time frame, and maintained at sea via the BSH data centers in Greven. TUI Cruises, headquartered DataCore’s software-defined SANsymphony™ storage platform delivers highly available and high-performance storage capacity for VMware, SQL and Exchange, in Hamburg, was founded in among others. April 2008. The company is a joint venture between The company: TUI Cruises TUI AG from Hanover and TUI Cruises, headquartered in Hamburg, was founded in April 2008. The Royal Caribbean Cruises company is a joint venture between TUI AG from Hanover and Royal Caribbean Ltd., the world’s second- Cruises Ltd., the world’s second-largest cruise company. The cruise brand TUI largest cruise company. The Cruises, which combines the features of a shipping company and a tour operator cruise brand TUI Cruises, under one roof, is primarily aimed at the German market. The first member of which combines the features the TUI Cruises fleet, Mein Schiff 1, was acquired and put into operation in May of a shipping company and 2009. Mein Schiff 2 followed in May 2011. After that, the first new ship was Mein Schiff 3, built three years later, followed by Mein Schiff 4 in June 2015 and a tour operator under one Mein Schiff 5 in July 2016.