The recruiting offensive launched in the second half of last year has gone some way toward countering the personnel shortage. In the financial year 2022, the Lufthansa Group continued to put particular focus on the optimization of cash flow. . Find more information regarding cookies on our Data Protection Declaration and regarding us on the Imprint. We were able to reduce operating losses by more than half as a result of the recovery. Aircraft MRO Market Size & Share Analysis Report, 2030 We are shaping the market, not just adapting to it. Demand for air travel remains high in 2023. Case Study: How Lufthansa Technik is benefiting from the aircraft parts and material market. Adjusted EBIT at Passenger Airlines improved significantly in the past fiscal year, at an operating loss of -300 million euros (previous year: -3.3 billion euros). In the first quarter, capacity will be around 75% of pre-crisis levels. The Lufthansa Group has decided to maintain liquidity in the range of 8 to 10 billion euros in the future to better protect itself against potential future crises. The measures that have been implemented to date account for over three quarters of the annual savings totalling EUR 3.5bn that are targeted from 2024 onwards. Reporting on environmental and sustainability topics is continuously developed in accordance with nationally and internationally recognized reporting standards. For the Logistics segment, the company expects a significant decline in revenue due to the further normalization of the airfreight market. This field laboratory based on an Airbus A320, funded by the Hanseatic City of Hamburg, was presented in October for the first time. In a move that is making a sustainable contribution to climate and environmental protection, Fraport and Lufthansa have teamed up to transfer recyclable PET bottles directly from the aircraft into a sustainable and closed recycling loop. There will be further investments of this magnitude in the expansion of overhaul capacities for the CFM LEAP engine type and in demand-driven repair solutions (Mobile Engine Services, or MES for short) by 2026. We are the only technical service provider in the aviation industry that works together with all original equipment manufacturers in the world. Annual Report 2022 - Lufthansa Group | Financial reports CO2-neutral flying is already possible today. :+49 69 696 - 28008investor.relations(at)dlh.de, Analyst and Investor Communication/Private Investors, Tel. On a scale from "A" (best result) to "D-," the company was rated "B." Report go gender equality real equal payments ; Work-Life-Balance Health Management and Occupational Safety ; Artistic Management ; Business Citizenship . At the same time, we initiated and implemented deep changes in the Company to adjust to the structural changes in our markets. When it took part in the capital increase, the ESF committed to selling its remaining equity investment within 24 months of completion of the capital increase at the latest, meaning no later than October 2023. Eurowings is preparing for a summer with enormous catch-up effects. Net indebtedness of EUR 9,023m was 9% below the figure at year-end 2020 due to the equity injection, which more than offset the cash outflow from free cash flow, interest payments and pension fund allocations (31 December 2021: EUR 9,922m). Key figures 2022. Despite numerous operational challenges, for example in personnel and supply chains, Lufthansa Technik has succeeded in significantly ramping up operations again. Adjusted EBIT improved by 41 percent year-on-year to 511 million euros (previous year: 362 million euros). Corporate responsibility, that is to say sustainable and responsible entrepreneurial practice, is an integral part of our corporate strategy. Accordingly, the company expects a further significant improvement in Adjusted EBIT in 2023. Annual Report 2021 | PDF | Aviation - Scribd Thus, the Lufthansa Group raised a total of EUR 4.1bn on the capital market in 2021 by issuing bonds. Assigns your browser to a session on the server. Annual General Meeting on May 9th at 12:00 pm. The expectation is that capacity expansion will be driven largely by short-haul tourist routes in Europe. facts. This website uses cookies. Only a strong balance sheet provides the resilience needed to invest in the future of our business and to manage future crises. For many years, the "cargo crane" has been a reliable partner for transporting sporting equipment for Olympic teams. Lufthansa Technik AG significantly increased both revenue and earnings in the financial year 2022 despite a challenging environment. These forward-looking statements are based on all discernible information, facts and expectations available at the time. Company | Luxair Yields increased in all traffic regions of Lufthansa Cargo and were 21 percent higher overall than in the previous year. On over four special flights, Lufthansa German Airlines flew over 400 athletes and support teams to the Olympic Games. As soon as this statistic is updated, you will immediately be notified via e-mail. Annual car sales worldwide 2010-2022, with a forecast for 2023 . . The implementation of the restructuring program makes a significant contribution in mitigating the effects of high inflation. A favorable US dollar exchange rate also played its part. Due to the strong increase in demand for air travel over the course of the year, the Lufthansa Group nearly doubled its revenue to 32.8 billion euros in the financial year 2022 (previous year: 16.8 billion). EBIT came to EUR 2,316m (previous year: EUR 7,353m). The 777 fleets of the launch customers SWISS and Lufthansa Cargo are currently being converted at full speed, so that eight freighters and passenger aircraft fitted with AeroSHARK are already in service. The record result was achieved in part thanks to the systematic implementation of the development program RISE. Steven Trowell Appointed Vice President - Technical at EirTrade Aviation, FL Technics and Angkasa Pura Property To Develop 17,000-Square-Meter MRO Hub in Bali, JETMS Completions Appoints Gegams Hanamirjans as Executive Chairman and Stefan Chevalier as Operational Director, Lufthansa Technik Records Rising Number of Apprentices, FL Technics to Establish 20,000-Square-Meter Hangar in Punta Cana, http://www.lufthansa-technik.com/financials. In the new application, passengers can see directly how many passengers have already offset the CO2emissions of their individual flight on that day and thus become part of a growing community. We are the partner of choice for airlines around the world. About 50 athletes with their gold, silver and bronze medals were on board this flight from Beijing among them the successful bobsleigh pilots around double Olympic champion Francesco Friedrich as well as Katharina Henning and Victoria Carl, who sensationally won silver in the women's cross-country relay and the gold medal in the relay sprint. The Aviation Services companies make an important contribution to the ongoing development of the Lufthansa Group. Both an increase and a reduction in net indebtedness compared with the previous year are possible. We remain firmly committed to generating consistently strong free cash flows and continuing the deleveraging in 2023 and beyond.". The feature is displayed to guests in the onboard entertainment system. Those have two functions: On the one hand they are providing basic functionality for this website. The company plans to hire another 2,000 new employees in Germany this year, and in total about 4,000 worldwide. Figures prior to 2021 were taken from previous annual reports. Corporate facts. In the reporting year, the Lufthansa Group also took out two borrowers note loans for EUR 350m and EUR 150m. The Africa Aviation MRO Market size is expected to grow from USD 1.45 billion in 2023 to USD 1.67 billion by 2028, at a CAGR of 2.91% during the forecast period (2023-2028). We benefited from this on our short-haul and medium-haul tourist routes in particular. Contracts with the Lufthansa Group's airlines accounted for roughly one-third of new business last year; two-thirds came from customers outside the Group. The crisis has had a considerable adverse effect on the development of the MRO business, with a significant decline in flight hours across the Lufthansa Technik's 2020 revenue down 43% due to CORONA . As an industry innovator, they have long been committed to environmental care and sustainability, operating one of the most technologically-advanced and fuel-efficient fleets in the world. A paid subscription is required for full access. Read more. Another aspect is the joint discussions with politicians and associations on how incentives to reduce emissions can be created without exposing European airlines to a competitive disadvantage compared with airlines from outside the EU. Annual Report 2023; Archive of past reports ; Regulatory announcements; . 2,286. The Lufthansa Group is pursuing an ambitious path for more climate friendly aviation and, since spring 2021, in addition to private travelers, has also been offering companies the option of using Sustainable Aviation Fuel (SAF) for their flights. The expansion of flight capacities, the positive development at the Aviation Services and progress with the restructuring programme were also reflected in the earnings performance of the Lufthansa Group. As a result, Kearney has beenusing the Lufthansa Group's "Compensaid Corporate Program" since November 2021 to make the majority of its business flights CO2-neutral. Lufthansa Technik Posts Record Result | Aviation Pros We are pleased that you are accompanying us on our path to a new normal and a new strength. Due to the strong global increase in demand for air travel and the accompanying growth in demand for maintenance and repair services, Lufthansa Technik's earnings increased to a record level in the financial year 2022, too. Net pension obligations decreased to 2.0 billion euros (previous year: 6.5 billion euros), mainly due to the market-wide rise in interest rates. Our customer: Lufthansa Technik | RS Group Revenue grew to 5.6 billion euros (previous year: 4.0 billion, up 39%), the third-best figure in the company's history. The performance of Adjusted ROCE will depend above all on the extent of the improvement in Adjusted EBIT. Lufthansa is one of the world's largest and most prestigious airlines. Close to our customer that's how we define our global strategic network. This cookie is associated with Akamai. Thus, the group predicts that Adjusted free cash flow will improve year-on-year in 2022. All rights reserved. Profit from the additional features of your individual account. After having successfully entered the military programs CH-47 Chinook (transport helicopter) and P-8A Poseidon (maritime patrol and reconnaissance aircraft) through letters of intent with strategic partners in the past fiscal year, Lufthansa Technik hopes for further positive developments in this area. Lufthansa - AnnualReports.com Demand for air travel during the Easter and summer vacation periods is particularly robust. It bases this expectation above all on the recovery of demand, which has become apparent since the beginning of the year in the form of significantly higher new bookings, and on progress with implementing the cost reduction programme across the Group. The Lufthansa Group is already number one in Europe and number four worldwide. The Aircraft Component Services business is expected to continue its recovery. Passenger airline revenues increased by 148 percent year-on-year to 22.8 billion euros in the financial year 2022 (previous year: 9.2 billion) due to the significant increase in passenger traffic and higher yields. Annual Report 2019 KEY FIGURES - DocsLib On the contrary: we love the possibilities technology offers. Our name "Lufthansa Technik" dates back to the last millennium but our spirit is forward-looking. This enabled us to significantly expand our capacities during the year. It is used to analyse traffic to determine if it is automated traffic generated by bots or a human user. Lufthansa Group - statistics & facts | Statista Demand for European holiday destinations and long-haul tourist destinations with limited or no travel restrictions rose rapidly in the summer, and demand on North American routes also increased significantly in the autumn. Lufthansa Technik can look back on a very successful first half of 2023. Lufthansa Group erreicht finanziellen Turnaround in 2022 mit einem Lufthansa Technik - operating profit 2014 | Statista The company is looking to further increase its share of the defense market in particular. Whether the choice is to the Canary Islands or to exotic far off destinations, the Lufthansa German Airlines flight schedule has a lot to offer and was expanded by a portfolio of attractive new destinations as well as increased frequencies on current routes and the resumption of services. . In addition to 19 long-haul destinations, Eurowings Discover also has a varied tourist short- and medium-haul offering, including to nine Greek islands, the Canary Islands, Portugal and Turkey. Recording Analysts' Conference on result 2022 On 3 March 2023, 01:00 p.m., you can follow the analysts conference in a Live Broadcast here. Finance. This includes EUR 1.0bn from astate-guaranteed loan in Switzerland which had not yet been utilised and EUR 735m from available credit lines. Yields thereby reached a record level in Lufthansa Cargo's history and were 136 percent above the pre-crisis level of 2019. Passengers can use the service free of charge via the in-flight Internet on their mobile devices. That's why we are constantly scouting new trends in technology and maintaining close contact to our customers - ever eager to create opportunities - and find (better) solutions for needs or wishes. In 2022, Lufthansa Technik's revenue from MRO activities was four billion euros. Lufthansa German Airlines CEO Klaus Froese said; "Its traditional that Team Germany flies to Olympic Games with Lufthansa. The Lufthansa Group expects cash flow from operating activities to be higher than last year, driven by the forecast earnings improvement, strict management of receivables and liabilities, and the absence of cash outflows in connection with the payment of deferred tax liabilities in the previous year. In the Engine Services division, Lufthansa Technik anticipates significant catch-up effects from the crisis period in 2023 and 2024. Lufthansa. Our matchless expertise is part of a larger process in which we keep our finger on the pulse of the aircraft and our eyes on the reliability and cost efficiency of the entire fleet. Lufthansa Technik signed a total of 706 new contracts and gained 28 new customers in the process. For the financial year 2023, the Lufthansa Group expects further progress towards achieving the targets set for 2024: Adjusted EBIT margin of at least 8% and Adjusted ROCE of at least 10%. and over 1Mio. Furthermore, the Lufthansa Group concluded financing for a total of 20 aircraft in 2021. The complete Annual Report is available on the Internet at the following link:http://www.lufthansa-technik.com/financials. Further information on the fleet order and "Allegris" can be found here: https://www.lufthansagroup.com/en/newsroom.html. Lufthansa Group raises earnings forecast for 2022 As of December 31, 2022, the Lufthansa Group's available liquidity of 10.4 billion euros was even above the newly defined long-term target corridor (previous year: 9.4 billion euros). "While we have not quite returned to our former dimensions, we will continue to grow from a position of strength." It was a year that once again demanded everything of us. 1-2022 - Lufthansa Group Investor Relations ", Lufthansa, Lufthansa Technik's revenue from 2007 to 2022 (in million euros) Statista, https://www.statista.com/statistics/264291/revenue-of-lufthansa-technik/ (last visited August 21, 2023), Lufthansa Technik's revenue from 2007 to 2022 (in million euros) [Graph], Lufthansa, May 8, 2023. 27. Overall, we welcomed 47 million passengers on board our airlines in the reporting year. Just recently, the company received the top rating "A-" in the renowned CDP climate ranking for its CO reduction strategy and implementation. Adjusted EBIT came to EUR 271m in the fourth quarter (previous year: EUR 1,290m). In the first quarter, Adjusted EBIT is expected to be negative. This means that both a positive or negative Adjusted ROCE are possible.
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