DER Touristik increased its revenues by over 10% last year mostly thanks to the takeover of Kuoni’s European tour operator businesses, according to fvw.
Rewe Group’s travel and tourism segment, which operates under the DER Touristik umbrella brand, increased revenues by 10.4% to €5.43 billion in 2015, the German retail group announced. This increase was largely the result of consolidation of the former Kuoni tour operator and travel agency businesses in Switzerland, the Nordic region, the UK and Benelux which were taken over last September.
The figures, announced this week as part of Rewe Group’s annual results, did not include any further breakdown, such as by geographical market. Rewe noted, though, that in the first two months of this year, DER Touristik revenues grew by a nominal 60% due to consolidation of the acquired Kuoni businesses.
Long-haul growth
In Germany, according to fvw’s 2015 dossier on German tour operators, DER Touristik only increased revenues by a low 0.7% to €3.2 billion in the tourism year ending October 2015 while customer numbers stagnated at 6.4 million. The Frankfurt-based individual holidays unit increased revenues thanks to long-haul growth while the Cologne-based package holidays unit saw a drop in revenues, although customer numbers increased.
DER Touristik is expected to have revenues of about €7 billion this year, based on 2014 turnover of €4.9 billion and approximately €2 billion worth of revenues from the former Kuoni subsidiaries.
The Rewe Group as a whole increased revenues by 3.7% to €52.4 billion last year and improved its operating profits (EBITA) by 12% to €587 million, which was a record level.
The retail and tourism group is ready and open for further acquisitions both in Germany and abroad, according to CFO Christian Mielsch. He pointed out that the group’s “low debts, record equity capital and unused credits open up immense room for action by us”.
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