Deutsche Lufthansa AG: Lufthansa reports an Adjusted EBIT of EUR 1,042m in the first six months of 2017 . The Executive Board increases the forecast for the Adjusted EBIT 2017 to 'above previous year'.
17.07.2017, 7:57 pm CET Based on preliminary figures, Deutsche Lufthansa AG generated revenues of EUR 17.0bn in the first six months of 2017 (prior-year period: EUR 15.0bn). The Adjusted EBIT came to EUR 1,042m (prior-year period: EUR 529m). The passenger airlines achieved a cumulative Adjusted EBIT of EUR 680m (prior-year period: EUR 352m). Unit revenues at constant currency increased by 0.5 per cent on the same period of the previous year (1.8 per cent in the second quarter). Unit costs excluding fuel and currency effects were down by 1.2 per cent (-3.4 per cent in the second quarter). Cumulative Adjusted EBIT for the remaining business segments (including consolidation and reconciliation) came to EUR 362m (prior-year period: EUR 177m). Fuel costs increased by EUR 223m on the same period of the previous year. All performance indicators and fuel cost are including the first time consolidation of Brussels Airlines and the aircraft wet leased from Air Berlin. At the end of the first half-year, net financial debt decreased to EUR 1.1bn (year-end 2016: EUR 2.7bn). Pension provisions came to EUR 8.1bn (year-end 2016: EUR 8.4bn) at an IFRS discount rate of 2.1 per cent (year-end 2016: 2.1 per cent). As opposed to the previous forecast, in particular revenue and operating profit developed better than expected due to strong demand. Pre-bookings for the economically very important third quarter have stabilized. The Executive Board of Deutsche Lufthansa AG increases their forecast for the year now from an Adjusted EBIT "slightly below previous year" to "above previous year". The expected organic capacity growth in the second half-year is expected to be 4.7 per cent. From today's perspective, unit revenues at constant currency will be negative in the second half-year compared to the prior-year period. Unit costs excluding fuel and currency effects are expected to come down slightly in the second half-year. The fuel cost projection (excl. consolidation of Brussels Airlines) as of 30 June 2017 indicates a tailwind of ca. EUR 100m in the second half-year compared to the previous year period. The Air Berlin wet lease and the first time consolidated Brussels Airlines are expected to deliver a small profit contribution. The remaining business segments expect to achieve a cumulative profit on par with last year in the second half-year of 2017. Deutsche Lufthansa AG will publish its detailed results for the first six months of 2017 on 2 August 2016 at 7.30 a.m. CET, on www.lufthansagroup.com/investor-relations. Person making the notification: Andreas Hagenbring, Head of Investor Relations Lufthansa Group. Note: 'Adjusted EBIT' is not a financial term according to IFRS. Information regarding the calculation of the Adjusted EBIT can be found in the Annual Report 2016 of Deutsche Lufthansa AG from p. 10.
17-Jul-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
Company: Deutsche Lufthansa AG Von-Gablenz-Straße 2-6 50679 Köln
Germany Phone: +49 (0)69 696 28000 Fax: +49 (0)69 696 90990 E-mail: email@example.com Internet: www.lufthansagroup.com/investor-relations ISIN: DE0008232125, DE0008232125 WKN: 823212 Indices: DAX Listed: Regulated Market in Dusseldorf, Frankfurt (Prime Standard), Hamburg, Hanover; Regulated Unofficial Market in Tradegate Exchange End of Announcement DGAP News Service
593417 17-Jul-2017 CET/CEST