German travel group, Tui, has announced its full-year results, stunning investors with a 139% surge in underlying earnings before interest and taxes (EBIT). The company's revenue also showed a strong growth of 11%, reaching 8.5 billion euros ($9.17 billion).

The impressive financial performance has driven Tui's stock up by approximately 9% mid-morning Wednesday. Investors are particularly captivated by the company's forecast, which predicts that EBIT will increase by at least 25% year-on-year in 2024.

Adding to the excitement, Tui's board is now considering delisting from the London Stock Exchange and upgrading to a prime standard listing in Frankfurt. This move aims to simplify the company's investment profile and potentially secure benefits related to European Union airline ownership and control requirements, as well as operational efficiencies and reduced costs. Shareholder approval, with at least 75% support, will be required and the decision is set to be discussed at Tui's annual general meeting in February.

Market analysts at Jefferies have noted that Tui's sales for 2023 are 2% higher than the consensus, further affirming the positive trajectory of the company. The main focus, however, lies on the 2024 guidance provided by Tui, which suggests a promising outlook for international travel from Europe. The guidance signifies a minimum of 25% underlying EBIT growth and is expected to result in a favorable revision of consensus by at least 7%. The analysts also pointed out the strong current trading for Winter 24 and Summer 24, which supports the optimistic forecast.

Tui's remarkable financial achievements, along with the potential shift in listings, come as a significant blow to the London Stock Exchange as it strives to retain existing firms and entice new ones. The exchange has been diligently revising its listing rules to enhance its appeal and attract businesses.

As Tui continues to impress with its soaring profits and bold strategic moves, the travel industry eagerly awaits further updates from the company's annual general meeting in February, where momentum is expected to carry forward.