TUI AG Confirms New Shipbuilding Slots for Marella Cruises Re-fleeting

TUI AG has secured building slots with Fincantieri S.p.A. for two new vessels, facilitating the re-fleeting of its Marella Cruises line. This re-fleeting initiative addresses the aging Marella fleet, with the first ship expected in fiscal year 2031 and the second in 2033. The project is valued at over €2 billion.

The company aims to finance this through customary market practices, with 80% debt and 20% equity, potentially supported by increased joint venture dividends. The re-fleeting remains contingent upon finalizing the shipbuilding contracts and financing arrangements.

Marella Cruises holds a strong position in the UK market, forecasted to expand at 9% annually until 2030. The re-fleeting is anticipated to bolster Marella's market presence, with expected EBIT between €130m and €150m per ship, and a ROIC ranging from 11% to 12%.