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Lufthansa 3Q2009 revenue down 9.4%

30-Oct-2009 1:31 PM

Lufthansa revenue down 9.4% - consolidated financial highlights:

Three months ended 30-Sep-2009:

  • Revenue: EUR5,936 million, -9.4% year-on-year;
  • EBITDA: EUR722 million, +31.5%;
  • EBIT: EUR328 million, +49.1%;
  • Net profit: EUR184 million, +23.5%;
  • Passenger numbers: 22.2 million, +17.1%;
  • Passenger load factor: 82.4%, +0.7 ppt;
  • Cargo volume: 443,000 tonnes, -6.3%;

Nine months ended 30-Sep-2009:

  • Total revenue: EUR18,126 million, -8.7%;
  • Group revenue: EUR16,200 million, -13.2%;
    • Passenger Airline Group: EUR12,050 million, -12.5%;
      • Lufthansa Passenger Airlines: EUR9,100 million, -16.7%;
      • SWISS: EUR2,066 million, -14.5%;
      • bmi: EUR301 million, n/a;
      • Germanwings: EUR451 million, -7.6%;
    • Logistics: EUR1,389 million, -36.3%;
    • MRO: EUR3,008 million, +11.9%;
    • IT Services: EUR451 million, -7.0%;
    • Catering: EUR1,586 million, -9.6%;
  • Operating costs: EUR17,800 million, -5.8%;
    • Labour: EUR4,307 million, +1.9%;
    • Fuel: EUR2,600 million, -36.4%;
  • Operating profit (loss): EUR226 million, -76.3%;
    • Passenger Airline Group: EUR239 million, -52.9%;
      • Lufthansa Passenger Airlines: EUR36 million, compared to a loss of EUR87.4 million in the previous corresponding period;
      • Swiss: EUR75 million, -67.0%;
      • bmi: (EUR10 million);
      • Germanwings: EUR39 million, +425.0%;
    • Logistics: (EUR200 million), compared to a profit of EUR160 million in the previous corresponding period;
    • MRO: EUR229 million, +0.9%;
    • IT Services: EUR12 million, -58.6%;
    • Catering: EUR53 million, -5.4%;
  • EBIT: EUR130 million, -83.4%;
  • EBITDA: EUR1,339 million, -27.1%;
  • Net profit (loss): (EUR32 million), compared to a profit of EUR529 million in the previous corresponding period;
  • Passenger numbers#: 55.4 million, +3.0%;
    • Lufthansa Passenger Airlines: 41.9 million, -3.9%;
    • SWISS: +1.3%;
  • Passenger load factor#: 78.0%, -1.5 ppt;
    • Lufthansa Passenger Airlines: 77.7%, -1.5 ppt;
  • Cargo volume: 1.2 million tonnes, -15.4%;
  • Yield: -12.9%. [more]
  • *Adjusted for consolidation
  • #Excludes Germanwings

Lufthansa Group: “For the remainder of the current year, the dominant factors are expected to remain weak demand and continuing heavy price pressure. These effects may be accentuated if the economic crisis blights consumer spending in the winter months, which are usually weaker anyway. Lufthansa Passenger Airlines and its partners are therefore preparing for a challenging fourth quarter…the target is to improve earnings by EUR1 billion by the end of 2011, principally by reducing the cost base,” Company statement. Source: Lufthansa Group.

Lufthansa: “Today we benefit from the fact that we were on a solid foundation with attractive products and that we were quick to recognize the turbulence ahead and tighten our safety belts. However, we cannot be satisfied with the result that we have achieved to date and will therefore have to increase our efforts further and do even more to safeguard earnings,” Wolfgang Mayrhuber, Chairman and CEO. Source: Company Statement, 29-Oct-2009.