from Deutsche Lufthansa AG (isin : DE0008232125)
EQS-Adhoc: Deutsche Lufthansa AG: Lufthansa Group adjusts full-year guidance
EQS-Ad-hoc: Deutsche Lufthansa AG / Key word(s): Change in Forecast
Deutsche Lufthansa AG: Lufthansa Group adjusts full-year guidance
12-Jul-2024 / 12:22 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
On a preliminary basis, Lufthansa Group has achieved an Adjusted EBIT of EUR 686 million in the second quarter of 2024 (previous year: EUR 1.1 billion). In particular, a market-related decline in yields in all traffic regions – especially in Asia – had a negative impact. Unit costs of the Group’s passenger airlines in the second quarter were at previous year's level. Adjusted free cash flow of Lufthansa Group amounted to EUR 573 million.
With a quarterly profit of EUR 213 million, Lufthansa Airlines' result was around EUR 300 million lower compared to previous year (EUR 515 million). Overall, Lufthansa Airlines recorded a half-year loss of EUR -427 million (previous year: profit of EUR 149 million). Lufthansa Airlines is particularly affected by the challenges posed by the negative market trend and by inefficiencies in the flight operations of Lufthansa and Cityline, also due to delayed aircraft delivery. It is becoming increasingly challenging for Lufthansa Airlines to break even for the full year. To counteract this, a comprehensive turnaround program is being launched.
For the other passenger airlines as well as Lufthansa Technik and Lufthansa Cargo, earnings for the second half of the year are expected to be broadly at previous year's level, in some cases higher.
Therefore, for the full year 2024, Lufthansa Group now expects an Adj. EBIT in the range of EUR 1.4 to 1.8 billion (previously: around EUR 2.2 billion). This outlook is largely dependent on the earnings development at Lufthansa Airlines and the traditionally important fourth quarter at Lufthansa Cargo.
Adjusted free cash flow is expected to be significantly below 1bn EUR (previously: at least 1bn EUR), based on the new Adj. EBIT guidance and given uncertainties around capex development in the second half of the year.
The Group will provide further details on the financial outlook when it publishes its final results for the second quarter on 31 July.
Contact person: Marc Nettesheim, Head of Investor Relations, phone +49 69 696 28000
End of Inside Information
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| Language: | English |
| Company: | Deutsche Lufthansa AG |
| Venloer Str. 151-153 | |
| 50672 Cologne | |
| Germany | |
| Phone: | +49 (0)69 696 28000 |
| Fax: | +49 (0)69 696 90990 |
| E-mail: | investor.relations@dlh.de |
| Internet: | www.lufthansagroup.com/investor-relations |
| ISIN: | DE0008232125, DE0008232125 |
| WKN: | 823212 |
| Indices: | MDAX |
| Listed: | Regulated Market in Dusseldorf, Frankfurt (Prime Standard), Hamburg, Hanover; Regulated Unofficial Market in Berlin, Tradegate Exchange |
| EQS News ID: | 1945383 |
| End of Announcement | EQS News Service |
1945383 12-Jul-2024 CET/CEST