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Annual Report 2003 Lufthansa Group: Key Data

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Annual Report 2003 Lufthansa Group: Key Data al Annual Report 2003 Lufthansa Group: Key Data 2003 2002 Change in per cent Revenue ¤m 15,957 16,971 – 6.0 of which traffic revenue ¤m 11,662 12,032 – 3.1 EBITDA ¤m 1,654 2,747 – 39.8 EBIT ¤m – 444 1,367 – Loss/profit from operating activities ¤m – 147 1,592 – Net loss/profit for the period ¤m – 984 717 – Operating result ¤m 36 718 – 95.0 Capital expenditure* ¤m 1,155 880 31.3 Operating cash flow ¤m 1,581 2,312 – 31.6 Total assets ¤m 16,732 19,137 – 12.6 Shareholders’ equity ¤m 2,653 4,125 – 35.7 Employees as of 31 December 2003 93,246 93,796 – 0.6 Staff costs ¤m 4,612 4,660 – 1.0 Losses/earnings per share ¤ – 2.58 1.88 – Dividend paid ¤ – 0.60 – *Capital expenditure without equity Previous year’s figures only partly comparable due to changes in the group of consolidated companies Statements according to International Financial Reporting Standards (IFRS) taking account of the interpretations by the International Financial Reporting Interpretations Committee (IFRIC) Date of disclosure: 25 March 2004 Cover picture: The A340-600 – the world’s longest and most modern passenger aircraft – has been deployed on Lufthansa’s intercontinental routes since 15 December 2003. With a fuel burn of only 3.3 litres per 100 revenue passenger- kilometres it is also the most fuel-efficient jet in the Lufthansa fleet. The A340-600 is also depicted on pages 9, 10/11, 50/51 and 76/77. The Business Segments of the Lufthansa Group Service and Operating result* Passenger Business Logistics MRO Catering Leisure Travel IT Services Financial Companies 2003 36 Deutsche Lufthansa AG1) Lufthansa Cargo AG Lufthansa Technik AG LSG Lufthansa Service Thomas Cook AG Lufthansa Systems Group Lufthansa Commercial Cologne Kelsterbach Hamburg Holding AG Oberursel GmbH Holding GmbH 2002 718 Kriftel Kelsterbach Cologne ¤976.9m 100% ¤100.0m 100% ¤220.0m 100% ¤140.0m 50%* ¤303.7m 100% ¤20.5m 100% ¤101.6m 2001 28 Lufthansa CityLine GmbH Lufthansa Cargo Aircraft Maintenance LSG Sky Chefs Condor Flugdienst GmbH Lufthansa Systems Amadeus Global Travel Cologne Charter Agency GmbH and Engineering Corp. Deutschland GmbH Kelsterbach Infratec GmbH Distribution S.A. 2000 1042 Kelsterbach Beijing Frankfurt/Main Kelsterbach Madrid 100% ¤25.6m 100%* ¤0.1m 40%* CNY326.5m 100% ¤30.7m 10%* ¤71.6m 100% ¤10.0m 18.28%* ¤27.9m 1999 723 Air Dolomiti S.p.A. Linee time:matters GmbH Lufthansa Airmotive Ireland LSG Lufthansa Service Lufthansa Systems Lufthansa Flight Training Aeree Regionali Europee Kelsterbach Holdings Ltd. Europa/Afrika GmbH Airlines Services GmbH GmbH ¤m Ronchi dei Legionari Dublin Kriftel Raunheim Frankfurt/Main 100% ¤15.0m 100%* ¤0.1m 100% US$27.1m 100% ¤25,565 100% ¤2.0m 100%* ¤20.5m *Derivation see table “Operating result” on page 95 Eurowings cargo counts GmbH Shannon Aerospace Ltd. LSG Sky Chefs Europe Lufthansa Systems Delvag Luftfahrtversicherungs- Luftverkehrs AG Kelsterbach Shannon Holding Ltd. Passenger Services GmbH AG Nuremburg London Kelsterbach Cologne 24.9%* ¤30.0m 100%* ¤0.1m 100% ¤37.8m 100% GB£42.5m 100% ¤2.0m 100%* ¤9.1m British Midland plc. Shanghai Pudong International Hawker Pacific Aerospace Inc. LSG Sky Chefs Inc. Lufthansa Systems Lufthansa AirPlus Donington Hall Airport Cargo Terminal Co. Ltd. Sun Valley Dover, Delaware Americas Inc. Servicekarten GmbH Shanghai East Meadow Neu-Isenburg 30%* GB£16.3m 29%* CNY191.6m 100% US$50.9m 100% US$149.8m 100% US$10,000 100% ¤10.0m Return on equity Luxair Société Luxem- AirLiance Materials LLC LSG Lufthansa Lufthansa Systems Autobahn Tank & Rast bourgeoise de Navigation Wilmington Service Asia Ltd. AS GmbH Holding GmbH 2003 –29.6 Aérienne S.A. Luxembourg Hong Kong Norderstedt Bonn 13%* ¤13.8m 50.21%* US$15.0m 100% HK$98.2m 100% ¤205,000 30.32%* ¤5.1m 2002 +23.1 Lufthansa A.E.R.O. GmbH LSG Sky Chefs Lufthansa Systems Opodo Ltd. Alzey Catering Logistics GmbH Hungaria Kft. London 2001 –21.3 Neu-Isenburg Budapest 100% ¤10.2m 100% ¤1.0m 100%* HUF40.1m 19.05%* ¤252.6m 2000 +29.5 Lufthansa Technik Lido GmbH Lufthansa Loyalty Partner GmbH Shenzhen Co. Ltd. Aeronautical Services Munich 1999 +27.2 Shenzhen Frankfurt/Main 70%* US$1.9m 100% ¤4.4m 52.63%* DM1.0m in per cent Lufthansa Technik Budapest Kft. Budapest 85%* HUF1.3bn Lufthansa Technik Philippines, Inc. Manila 51% US$30.0m The list of subsidiaries and associates includes consolidated and non-consolidated (*) companies with their nominal share capital and the Lufthansa stake in per cent. As of 31 December 2003 1)Deutsche Lufthansa AG is the parent company of the Group, in which Lufthansa German Airlines operates passenger services as an independent business unit. Mission Statement of the Lufthansa Aviation Group The Aviation Group – As an aviation group, we pursue activities in six strategic business areas: Motor of a Mobile Society Passenger Business, Logistics, MRO, Catering, Leisure Travel and IT Services. The basis for our activities is the management of international passenger and cargo flights, independently and with partner airlines. Europe is our home market. In addition to air transport, we provide our customers with inte- grated solutions along the entire service chain by consistently harnessing synergy potential. We also offer our skills in aircraft maintenance and overhaul, airline catering and IT services to external customers, worldwide. Offering Best Performance – All our business areas make a significant contribution to sustainable Creating Value – value creation in the Group by focusing consistently on their core Setting Benchmarks business. They all target on market leadership in their business segment. Our corporate and business area portfolio is stable but not static. We judiciously anticipate changes in the business environment in which we operate, and adapt our portfolio to accommodate them. We operate in the market under the core Lufthansa brand and other brands. All those brands manifest our commitment to providing customers with a service noted for safety, reliability, punctuality, technical compe- tence, quality, flexibility and innovation. Shouldering Responsibility – Service is our vocation. Our staff constitute our most important asset. Keeping a Balance As an attractive employer of present and future staff, we endeavour to offer our employees job security, good working conditions, career opportunities and convincing corporate ethics. Our staff honour that endeavour with customer-friendly service and thereby underpin future growth. We are committed to creating sustainable value for our investors. The norms are set by the capital market. We aim at a performance level that stands as a benchmark for the European airline industry. Business success does not rule out a corporate policy geared to sustainable development and care for the environment. We are fully committed to keeping a balance between them. Protecting the environ- ment is therefore a prime corporate objective, to which we subscribe with total conviction. 2 Annual Report 2003 Innovation Quality and innovation, safety and reliability are and will remain the hallmarks of Deutsche Lufthansa AG. They shape the image of our company and they will be the guarantor of our success in future, too. In 2003 we introduced a range of innovations and quality improvements at our passenger airlines which will come to fruition in the current year. As part of the programme of fleet renewal we have embarked upon, we will put 20 new, modern aircraft into service. They include the Airbus A340-600, the world’s longest and most advanced commercial aircraft. Innovation and top quality are also the hallmarks of our new Business Class concept on long-haul routes. The key feature is a technically sophisti- cated seat that converts into a flat bed at the press of a button. Lufthansa is the first airline in the world to provide broadband Internet access on board its aircraft. With FlyNet, passengers can surf the web at speeds to which they are accustomed on the ground. On European routes we are also enhancing cabin comfort for our Business Class passengers. Meanwhile, on the ground, we are optimising procedures for our status customers with our Priority Service. We rely on modern technology – the Internet, mobile phones and check-in terminals – in order to simplify reser- vations and ticket sales and to shorten check-in times. One outstanding example of our innovative strength is the new terminal at Munich Airport. For the first time we were able to directly influence the design of an airport terminal and thus optimise our operational procedures. We consequently reduced the minimum connecting time to 30 minutes – on a par with the best international standards. This year we will implement a unique programme for our premium customers and First Class passengers. A dedicated terminal at Frankfurt, exclusive service on the ground with personal service right through to departure and special shuttle services direct to the aircraft will make flying Lufthansa even more convenient and enjoyable. Innovation and quality are also the distinguishing features of the Lufthansa Group companies. Lufthansa Cargo, for example, is firmly estab- lished as a premium provider of logistics services and has developed a wide range of new products for the transport of various types of air cargo shipments. In conjunction with Lufthansa Systems and partners, Lufthansa Technik created the technical conditions for FlyNet and developed the product through to series production. With “niceTM – networked integrated cabin equipment”, the company has for the first time been classed as a manufacturer and now supplies state-of-the-art technology
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