Lufthansa Group reports sharp operating profit decline in 1H2013, FY profit expected to be higher

Lufthansa Group revenue stable - financial highlights for six months ended 30-Jun-2013:

• Total operating income: EUR15,518 million, -0.2% year-on-year;
• Total revenue: EUR14,464 million, -0.3%;
• • Passenger Airline Group: EUR11,233 million, +0.1%;
  • Logistics: EUR1218 million, -9.9;
  • MRO: EUR2040 million, +1.2%;
  • Catering: EUR1209 million, +0.5%;
  • IT Services: EUR304 million, +1.0%;
• Total operating cost: 15,519 million, +1.1%;
• • Labour: EUR3606 million, +14.6%;
  • Fuel: EUR3475 million, -2.5%;
• Operating profit (loss): EUR72 million, -69.4%;
• • Passenger Airline Group: (EUR64 million), compared to a profit of EUR73 million in p-c-p;
  • Logistics: EUR61 million, +27.1%;
  • MRO: EUR219 million, +50.0%;
  • Catering: EUR19 million, -13.6%;
  • IT Services: EUR5 million, -37.5%;
• EBIT (loss): (EUR79 million), compared to a profit of EUR87 million in p-c-p;
• Net profit (loss): (EUR204 million), compared to a profit of EUR50 million in p-c-p;
• Passenger numbers: 49,463 million, -0.4%;
• Passenger load factor: 78.1%, +1.2 ppt;
• Cargo volume: 963,000 tonnes, -3.1%;
• • Lufthansa Cargo: 839,000 tonnes, -3.5%;
• Cargo load factor: 69.1%, +0.1 ppt;
• • Lufthansa Cargo: 70.0%, +0.9 ppt;
• Yield:
• • Europe: +1.2%;
  • Americas: +2.0%;
  • Asia Pacific: -7.2%;
  • Middle East and Africa: -4.2%;
• Total assets: EUR29,562 million;
• Cash and cash equivalents: EUR1613 million;
• Total liabilities: EUR24,395 million. [more - original PR]

Lufthansa Group: "For the full year 2013, the Lufthansa Group therefore still anticipates that revenue will be up on last year and that the operating result will be higher than that of EUR 524m reported for the 2012 financial year." Source: Company statement, 02-Aug-2013.