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Lufthansa Group revenue up 14.8%, deep in the red in 1Q2010

6-May-2010 12:16 PM

Lufthansa Group revenue up 14.8% - consolidated financial highlights for the three months ended 31-Mar-2010:

  • Total operating income: EUR6,376 million, +10.2% year-on-year;
  • Total revenue: EUR5,758 million, +14.8%;
    • Passenger Airline Group: EUR4,323 million, +19.6%;
      • Lufthansa Passenger Airlines: EUR2,871 million, +1.3%;
      • SWISS: EUR746 million, +6.6%;
      • Austrian Airlines: EUR427 million, -2%;
      • bmi: EUR196 million, n/a;
      • Germanwings: EUR102 million, +4.1%;
    • Logistics: EUR563 million, +20.0%;
    • MRO: EUR999 million, -8.6%;
    • IT Services: EUR143 million, -3.4%;
    • Catering: EUR493 million, -1.0%;
  • Total operating costs: EUR6,719 million, +14.8%;
    • Labour: EUR1,557 million, +8.5%;
    • Fuel: EUR1,069 million, +44.7%;
  • Operating profit (loss): (EUR330 million), compared to a loss of EUR44 million in the previous corresponding period;
    • Passenger Airline Group: (EUR373 million), compared to a loss of EUR30 million in the previous corresponding period;
      • Lufthansa Passenger Airlines: (EUR236 million), n/a;
      • SWISS: EUR1 million, -97.6%;
      • Austrian Airlines: (EUR66 million), n/a;
      • bmi: (EUR45 million), n/a;
      • Germanwings: (EUR34 million), compared to a loss of EUR22 million in the previous corresponding period;
    • Logistics: EUR35 million, compared to a loss of EUR72 million in the previous corresponding period;
    • MRO: EUR71 million, +16.4%;
    • IT Services: EUR3 million, +50.0%;
    • Catering: (EUR2 million), compared to a profit of EUR21 million in the previous corresponding period;
  • EBIT (loss): (EUR306 million), compared to a loss of EUR220 million in the previous corresponding period;
  • Net profit (loss): (EUR298 million), compared to a loss of EUR267 million in the previous corresponding period;
  • Passenger numbers: 19.0 million, +26.5%;
    • Lufthansa Passenger Airlines: 12.2 million, +1.2%;
    • Austrian: 2.1 million, +7.3%;
    • Germanwings: 1.4 million, +4.0%;
  • Load factor: 74.9%, +0.8 ppt;
    • Austrian: 72.9%, +4.6 ppts;
    • Germanwings: 72.2%, -2.8 ppts;
  • Cargo volume: 445,000 tonnes, +18.1%;
  • Average yield: +0.2%. [more]

Lufthansa Group: “Following a very weak start to the year and the impact of both the harsh winter and the pilotsstrike, demand developments at the companies within the Passenger Airline Group improved noticeably in the first quarter. This more positive trend is reflected in rising sales figures. Another pleasing development is the recovery in the premium sector, which also prompted a year-on-year increase in average yields in intercontinental traffic…in the light of these factors, it is not possible at this stage to be more precise about the expected operating result, much less put a figure on it,” Company statement. Source: Lufthansa Group, 05-May-2010.

Lufthansa Group: “Lufthansa Cargo is cautiously optimistic about the current financial year. Although forecasts remain difficult in the current climate, there are no signs of an end to resurgent demand as yet. As a result, a clear year-on-year increase in revenue is anticipated. However, Lufthansa Cargo does not expect to match the 2008 figures again just yet,” Company statement. Source: Lufthansa Group, 05-May-2010.