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Lufthansa Group adjusted operating profit EUR860m in first nine months; adjusts FY2013 forecast

23-Oct-2013 10:05 AM

Lufthansa Group reported (22-Oct-2013) preliminary operating profit before restructuring costs in connection with the Score programme (EUR168 million) and project costs for product improvements (EUR30 million) reached EUR860 million in the first nine months of 2013, an increase of EUR280 million compared with the adjusted result for the first nine months of 2012. Including the project and restructuring costs, the operating result for the first nine months reached EUR660 million. The group stated it succeeded in keeping revenue stable at EUR22,800 million, despite a decline in the number of services while ASK capacity and passenger numbers remained constant. Load factor, however, increased. Exchange rate also had an adverse effect on the group's revenue. Commenting on the preliminary results, Deutsche Lufthansa AG CEO Christoph Franz said "In spite of substantial negative exchange rate effects and fewer flights, we have kept our revenue stable. We have also succeeded in reducing unit costs, in particular in our passenger business.” Unit costs, adjusted for fuel costs, improved compare to the first nine months of 2013, due to the Score projects and will continue over the long term, according to the group. looking ahead, the group is forecasting an operating profit of EUR600 million to EUR700 million, including EUR300 million in restructuring and project costs. Excluding the restructuring and project costs, the group's operating profit is forecast to be between EUR900 million and EUR1000 million. Lufthansa Group is scheduled to release its results for the first nine months on 31-Oct-2013. [more - original PR] [more - original PR - German]