Lufthansa Group reports EBIT growth, boosted by airline group

Lufthansa Group revenue down 4% - financial highlights for six months ended 30-Jun-2016:

• Total operating revenue: EUR16,274 million, -4.1% year-on-year;
• Total revenue: EUR15,042 million, -2.1%;
• • Passenger Airline Group: EUR11,302 million, -2.9%;
  • • Lufthansa Passenger Airlines: EUR7405 million, -3.7%;
    • SWISS: EUR2094 million, -5.0%;
    • Austrian Airlines: EUR972 million, +2.1%;
    • Eurowings: EUR922 million, +8.0%;
    • Logistics: EUR976 million, -19.1%;
    • MRO: EUR2538 million, -0.7%;
    • Catering: EUR1526 million, +5.4%;
• Operating costs: EUR15,746 million, -4.8%;
• • Labour: EUR3984 million, +1.6%;
  • Fuel: EUR2337 million, -20.3%;
• EBIT (loss): EUR518 million, +11.9%;
• • Passenger Airline Group: EUR393 million, +41.9%;
  • • Lufthansa Passenger Airlines: EUR354 million, +251%;
    • SWISS: EUR131 million, -37.9%;
    • Austrian Airlines: EUR1 million, compared to a loss of EUR17 million in p-c-p;
    • Eurowings: (EUR89 million), compared to a loss of EUR22 million in p-c-p;
  • Logistics: (EUR46 million), compared to a loss of EUR16 million in p-c-p;
  • MRO: EUR204 million, -23.9%;
  • Catering: EUR26 million, +62.5%;
• Net profit: EUR429 million, -55.0%;
• Passenger numbers: 51.3 million, +0.7%;
• Passenger load factor: 76.4%, -2.1 ppts;
• Yields: EUR 9.9 cents, -4.3%;
• Revenue per ASK: EUR 7.6 cents, -6.6%;
• Cost per ASK: EUR 8.3 cents, -9.4%;
• Total assets: EUR35,054 million;
• Cash and cash equivalents: EUR1408 million;
• Total liabilities: EUR31,422 million. [more - original PR]

Lufthansa Group: "Advance bookings, especially on long-haul routes to Europe, have declined significantly, due in particular to repeated terrorist attacks in Europe and to greater political and economic uncertainty since the original forecast was made in March. From today's perspective, the Executive Board no longer believes it likely that bookings will recover again in full. For this reason, the Executive Board of Deutsche Lufthansa AG has decided to lower the full-year forecast for Adjusted EBIT from "slightly above previous year" to "below previous year", even though earnings in the first half-year were higher than the previous year." Source: Company statement, 02-Aug-2016.