1-Nov-2013 3:50 PM

Lufthansa Group operating profit down in first nine months, expects FY2013 profit to be higher

Lufthansa Group revenue stable – financial highlights for nine months ended 30-Sep-2013:

  • Total revenue: EUR22,768 million, -0.2% year-on-year;
    • Passenger Airline Group: EUR17,892 million, +0.2%;
      • Lufthansa Passenger Airlines: EUR13,169 million, +0.8%;
      • SWISS: EUR3202 million, +0.3%;
      • Austrian Airlines: EUR1577 million, -4.3%;
    • Logistics: EUR1801 million, -10.2%;
    • MRO: EUR3109 million, +3.6%;
    • Catering: EUR1889 million, -0.4%;
    • IT Services: EUR472 million, +5.4%;
  • Total operating costs: EUR23,714 million, +1.1%;
  • Fuel: EUR5406 million, -2.9%;
  • Labour: EUR5464 million, +13.1%;
  • Operating profit: EUR661 million, -27.1%;
    • Passenger Airline Group: EUR497 million, -19.2%;
      • Lufthansa Passenger Airlines: EUR300 million, +170%;
      • SWISS: EUR182 million, +5.2%;
      • Austrian Airlines: EUR19 million, -91.0%;
    • Logistics: EUR43 million, -35.8%;
    • MRO: EUR332 million, +43.7%;
    • Catering: EUR63 million, -16.0%;
    • IT Services: EUR17 million, +30.8%;
  • Net profit: EUR247 million, -64.6%;
  • Passenger numbers: 79.8 million, +0.6%;
  • Passenger load factor: 80.3%, +1.0 ppt;
  • Cargo volume: 1.5 million tonnes, -2.0%;
  • Cargo load factor: 68.4%, -0.4 ppt;
  • Total assets: EUR29,342 million;
  • Cash and cash equivalents: EUR1569 million;
  • Total liabilities: EUR23,747 million. [more - original PR]

Lufthansa Group: “Advance bookings are slightly up on the year in terms of volumes. No reversal of the negative exchange rate trend is evident, however, and average yields remain under pressure. The average yield figures will continue to be diluted by the structural effects of larger aircraft, a growing share of long-haul traffic and the temporary increase in the proportion of Economy Class seats. From the current perspective, these structural factors will have a sustainably positive effect on profitability, however. On the assumption that conditions remain the same, the Passenger Airline Group is now forecasting for 2013 a revenue on par with previous year as well as an increase in the operating result against the reported profit for 2012.” Source: Company statement, 31-Oct-2013.

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