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Titel Der Präsentation Lufthansa Group Conference & Roadshow Presentation March / April 2016 Disclaimer in respect of forward-looking statements Information published in this presentation concerning the future development of the Lufthansa Group and its subsidiaries consists purely of forecasts and assessments and not of definitive historical facts. These forward-looking statements are based on all discernible information, facts and expectations available at the time. They can, therefore, only claim validity up to the date of their publication. Since forward-looking statements are by their nature subject to uncertainties and imponderable risk factors – such as changes in underlying economic conditions – and rest on assumptions that may not occur, or may occur differently, it is possible that the Group’s actual results and development may differ materially from the forecasts. Lufthansa makes a point of checking and updating the information it publishes. However, the Company is under no obligation to update forward-looking statements or adapt them to subsequent events or developments. Accordingly, it neither explicitly nor implicitly accepts liability, nor gives any guarantee for the actuality, accuracy or completeness of this data and information. Page 2 The Lufthansa Group is based on three strong pillars - Synergetic portfolio of premium hub airlines, profitably growing P2P airlines and high margin aviation services - New organizational structure to create efficiencies and to help implementing seven fields of action The Lufthansa Group benefits from a sound financial setup - Strong balance sheet, investment grade rating, sustainable free cash flow generation - Clear and consistent dividend policy with industry leading pay-out ratio The Lufthansa Group has good FY15 results - Passenger airlines drive results improvement; improvements at MRO and Catering; Logistics below PY - Adj. EBIT of 1.8bn EUR (+55%), free cash flow of 800 m EUR (+1.1 bn EUR) The Lufthansa Group expects FY16 Adj. EBIT slightly above PY - Profit improvement FY 2016 to be driven by lower fuel and ex-fuel unit cost - Unit revenues to be significantly down due to dilution from strong Eurowings growth and lower yields Page 3 The Lufthansa Group is based on three strong pillars Margin and growth-oriented goals for the business segments #1 for customers, shareholders, employees and partners Premium network Eurowings Group Aviation Services airline system #1 in Europe #1 in home markets* #1 worldwide Premium positioning & Establishment of Eurowings Participation in global cost optimization as parallel brand market development and others Margin improvement Profitable growth Exploiting synergies and consistent capital allocation * Germany, Austria, Switzerland and Belgium Page 4 Hub Airlines Revenue and cost optimization is focus at Hub Airlines Strengthening of yield premium and improvement of cost position Revenue optimization Premium products Network quality Distribution / individualization Personalization & digitalization One Uniform website fares New revenue management system Cost optimization Focus on fees and Exploiting commercial Fleet modernization Competitive charges synergies tariff structures Synchronized Synchronized processes Hub FRA Hub MUC Hub ZRH Hub VIE Retirement ongoing Page 5 Hub Airlines Network and partnerships offer connectivity for premium travellers Passenger network and partner overview for airlines Premium products and services Network quality . Installation of 11,200 new seats and assembly of Premium Economy Class at Lufthansa completed in 2015 Leading transatlantic JV First JV for Japan-Europe . Cabin upgrade in new B777 at SWISS 13.8bn EUR Rev, 36.1m Pax 44.4% 1.4bn EUR Rev, 3.0m Pax . Improved business class at Austrian Airlines of traffic revenue 2015 24.9% 17.8% . 5 Star Signature Service in business class & Skytrax JV Europe-China* Award for Best Airline Staff Service in Europe 3.6% . Lufthansa FlyNet on short- and medium-haul flights 3.6% First JV for Europe-SE Asia* . Lounge upgrades at hubs in FRA, MUC, ZRH and VIE 5.7% . New passenger terminal amendment (‚satellite‘) in MUC *in preparation 50% of long-haul revenues generated Quality-focus to strengthen yield premium through industry-leading JVs Distribution / individualization Introduction of new New uniform website New revenue Personalized value offer modular fare concept management system by using customer data Unbundling of fares to Group-wide digital market Real-time dynamic pricing Mobile lounge shopping, better allow for individual place for all of the beyond the 26 booking digital inflight shopping customer requirements Lufthansa Group Airlines classes with delivery to gate, etc. 300m EUR p.a. additional revenues from 2018 through ancillary services Page 6 Hub Airlines Network and partnerships offer connectivity for premium travellers Passenger network and partner overview for airlines Fleet modernization Competitive tariff structures . New Generation aircraft with greater number of seats and . Competitive wage agreement with significantly lower CASK* compared to older model SWISS and Austrian flight crew . Fleet streamlining: Asset Utilization Fleet Modernization . Agreement with pilots’ union at retirement of 268 234 Lufthansa City Line for lower cost 258 260 263 COC/ASK -13% 234 vs A320ceo 90-seaters & B737 A320neo operation of A340-300 +17% COC/ASK -18% . Asset utilization: E195 vs F100 . Agreement with ground/admin staff 178 174 157 156 154 710 COC/ASK -29% 2010 – 2015 vs ARJ100 in Germany on wages and changed pension system -15% CSeries ASK +17% COC/ASK -23% vs A340-300 . Arbitration with German cabin crew union ongoing A/C -15% B777 COC/ASK -17% SLF +0.8pts. 2010 2011 2012 2013 2014 2015 vs A340-300 . Negotiations with Lufthansa mainline pilots’ union ongoing; A350 ASK (bn) # of aircraft SLF (%) future pilot hires subject to satisfactory agreement Focus on uniform and cost efficient fleet Competitive agreements in place for majority of staff Exploiting commercial synergies Fees and charges . Joint sales activities & harmonized revenue management . No fare increase at Frankfurt airport . Network management and product development aligned . Reduction of fees for air traffic control in Germany of 20 – 30 m EUR p.a. Integration and sharing of administrative functions (reduction of management positions by 15% for the whole . New lease contract with Vienna airport: positive Group) one-time effect and reduced rent payments in the future 500 m EUR profit contribution by 2019 Successful initiative to reduce fees and charges *Cash Operating Cost (COC): all cost to operate an aircraft (fuel, crew, maintenance, landing and air traffic control fees, except capital cost and insurance) Page 7 Eurowings Eurowings is #1 P2P in home markets; expansion of long-haul routes Eurowings as parallel brand of the Group and consolidation platform Intercontinental P2P network Integration under Umbrella Brand Eurowings Teheran Las Vegas Boston Bangkok Miami Cancun* Eurowings Commercial & Service Puerto Plata Bundling of commercial and administrative functions Phuket Varadero Dubai Punta Cana* Mauritius Brand Product Sales Network Admin/IT ... *served by tuiFly on behalf of Eurowings in winter schedule 15/16 Innovative brand and favorable offers Pricing Fare structure Inflight Ancillaries entertainment Short-haul Long-haul Others Eurowings Eurowings Germanwings SunExpress In-seat + own DE EU DE devices Page 8 Eurowings P2P platform aims at stable and profitable growth Positive performance und unit cost advantages Fleet Development1 Competitive cost structures 2 # of a/c Development unit costs Eurowings (excl. fuel) 98 aircraft 99 aircraft 86 aircraft l/h 7 8 s/h 3 +30% ASK 83 91 91 +35% ASK 2015 2016 2017 Founding of EW Europe in Vienna New joint management under EW Commercial & Service 2015 2016 2017 2018 Launch of EW long-haul route (CGN-VRA) 2 per ASK Set-up Executive Board “Eurowings & Aviation Services” Unit costs in 2016 already c. 30% Transfer of Germanwings 3 overhead to EW C&S below those of hub airlines 3 at same share of short and long haul operations 1 according to current planning Page 9 Aviation Services Aviation Service companies push multiple growth initiatives Expansion of the diversified portfolio in existing and new markets . Growth e.g. in the field of . Focus on integrated buy-on- . Program to sustainably maintenance services for board service concepts (RIM*) increase profitability is set up low cost carriers . Continued growth in . Taking over air cargo . Extension of innovation adjacent markets business of Eurowings center in Hamburg Other business segments e.g. Miles & More: development of multi partner program for further expansion of non-airline business and others * RIM = Retail in Motion Page 10 Consistent implementation of measures to increase efficiency of Group Efficiency measures within the Lufthansa Group 2012 2013 2014 2015 2016 2017 2018 LHP: ‘Freeze’ fleet size Capacity & fleet Less growth: 25 LHP: Introduction A380 and Boeing 747-8 1 dimensioning fewer aircraft -20% unit LHP: Lower SKO growth until competitive structures have been established costs LHP: Introduction 2-Class intercont. fleet LHP: Introduction new A/C (A350/ B77x) Fleet LHP: lower-cost sub-fleet (Jump) with 14 A343 development & LHP: Reduction short-haul fleet from 9 to 3 A/C types LHP: Eurowings concept on P2P routes in Europe production platforms LX: New platform in Geneva LHP: Eurowings long-haul LCAG: Introduction B777 LX: New short- and long-haul fleet structures LHP: Reduction in overhead costs via
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