2Nd Interim Report January – June 2011 2
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2nd Interim Report January – June 2011 2 Vision www.lufthansa.com www.lufthansa.com/investor-relations www.lufthansa.com/responsibility Lufthansa Group overview Key fi gures Lufthansa Group Credits Contact Financial calendar Jan. – June Jan. – June Change April – June April – June Change Published by Frank Hülsmann 2011 2011 2010 in % 2011 2010 in % Deutsche Lufthansa AG Head of Investor Relations 27 Oct. Press Conference and Analysts’ Von-Gablenz-Str. 2– 6 + 49 69 696 – 28001 Revenue and result Conference on interim result 50679 Cologne Total revenue €m 14,063 12,625 11.4 7,624 6,867 11.0 Johannes Hildenbrock January – September 2011 Germany of which traffi c revenue €m 11,597 10,203 13.7 6,373 5,627 13.3 + 49 69 696 – 28003 2012 Operating result €m 3 – 171 230 159 44.7 Entered in the Commercial Register of Gregor Schleussner EBIT €m – 128 64 450 370 21.6 Cologne District Court under HRB 2168 15 March Press Conference and Analysts’ + 49 69 696 – 28012 EBITDA €m 739 876 – 15.6 880 777 13.3 Conference on 2011 results Editorial staff Net profi t / loss for the period €m – 206 – 104 – 98.1 301 194 55.2 Deutsche Lufthansa AG Frank Hülsmann (Editor) 3 May Release of Interim Report Investor Relations Key balance sheet and cash fl ow statement fi gures Claudio Rizzo January – March 2012 LAC, Airportring Total assets €m 29,517 29,532 – 0.1 – – – Christian Schmidt 60546 Frankfurt am Main 8 May Annual General Meeting Equity ratio % 26.5 24.3 2.2 pts – – – Deutsche Lufthansa AG, Germany in Cologne Net indebtedness €m 1,427 1,754 – 18.6 – – – Investor Relations Phone: + 49 69 696 – 28008 2 Aug. Release of Interim Report Cash fl ow from operating activities €m 1,740 1,420 22.5 961 856 12.3 Fax: + 49 69 696 – 90990 Concept, design and realisation January – June 2012 Capital expenditure (gross) €m 1,437 974 47.5 693 440 57.5 E-mail: [email protected] HGB Hamburger Geschäftsberichte GmbH 31 Oct. Press Conference and Analysts’ Key profi tability and value creation fi gures & Co. KG, Hamburg, Germany The Lufthansa 2nd Interim Report is a Conference on interim result Adjusted operating margin 1) % 0.4 – 1.0 1.4 pts 3.5 2.7 0.8 pts translation of the original German Lufthansa Translation by January – September 2012 EBITDA margin % 5.3 6.9 – 1.6 pts 11.5 11.3 0.2 pts Zwischenbericht 2/2011. Please note that EnglishBusiness GbR, only the German version is legally binding. Lufthansa share Hamburg, Germany You can order the Annual and Interim Reports Share price at the quarter-end € 15.03 11.39 32.0 – – – Printed by in German or English via our website – Earnings per share € – 0.45 – 0.23 – 95.7 0.66 0.42 57.1 Broermann Druck + Medien GmbH, www.lufthansa.com/investor-relations – or Troisdorf, Germany from the address above. Traffi c fi gures Printed on Circlesilk Premium White Passengers thousands 50,234 45,627 10.1 28,147 24,983 12.7 (100 per cent recycled paper bearing the The latest fi nancial information on the internet: Passenger load factor % 75.4 77.3 – 1.9 pts 78.0 79.3 – 1.3 pts EU Ecolabel, registration number FR/011/003) www.lufthansa.com/investor-relations thousand Freight and mail tonnes 1,070 939 13.9 542 493 9.8 Printed in Germany Cargo load factor % 66.6 68.9 – 2.3 pts 65.9 69.1 – 3.2 pts ISSN 1616-0258 Available tonne-kilometres millions 20,624 18,558 11.1 10,812 9,719 11.2 Revenue tonne-kilometres millions 14,752 13,666 7.9 7,863 7,290 7.9 Overall load factor % 71.5 73.6 – 2.1 pts 72.7 75.0 – 2.3 pts Flights number 557,760 526,934 5.9 291,299 271,997 7.1 Employees Employees as of 30.6. number 118,766 116,844 1.6 118,766 116,844 1.6 1) Performance indicator to enable comparison with other airlines: (operating result + write-backs of provisions) / revenue. Date of publication: 28 July 2011. Contents Disclaimer in respect of forward-looking statements Information published in the 2nd Interim Report 2011, with regard to the future development of the Lufthansa Group and its subsidiaries consists purely 1 To our shareholders 35 Further information of forecasts and assessments and not of defi nitive historical facts. Its purpose is exclusively informational identifi ed by the use of such cautionary terms as “believe”, “expect”, “forecast”, “intend”, “project”, “plan”, “estimate” or “intend”. These forward-looking statements are based on all discernible 3 Interim management report 37 Credits/Contact information, facts and expectations available at the time. They can, therefore, only claim validity up to the date of their publication. 24 Interim fi nancial statements Financial calendar 2011/2012 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 or divergently occur, it is possible that the Group’s actual results and development may differ materially from those implied by the forecasts. Lufthansa makes a point of checking and updating the information it publishes. It cannot, however, assume any obligation to adapt forward-looking statements to accommodate events or developments that may occur at some later date. Accordingly, it neither expressly nor conclusively accepts liability, nor gives any guarantee, for the actuality, accuracy and completeness of this data and information. To our shareholders | Interim management report | Interim financial statements | Further information Letter from the Executive Board Lufthansa Group overview Key fi gures Lufthansa Group LadiesCredits and gentlemen, Contact Financial calendar Jan. – June Jan. – June Change April – June April – June Change Published by Frank Hülsmann 2011 2011 2010 in % 2011 2010 in % Deutsche Lufthansa AG Head of Investor Relations While the outlook was thoroughly positive for the global economy The Logistics segment succeeded 27 Oct. in Press finishing Conference the first and six Analysts’ months Von-Gablenz-Str. 2– 6 + 49 69 696 – 28001 Revenue and result and the aviation industry at the beginning of 2011, prospects have of 2011 with operating profits only slightlyConference below on the interim previous result year’s 50679 Cologne Total revenue €m 14,063 12,625 11.4 7,624 6,867 11.0 become much more differentiated since the outbreakJohannes of political Hildenbrock record result. Lufthansa Technik alsoJanuary posted – aSeptember clear profit 2011 for the Germany of which traffi c revenue €m 11,597 10,203 13.7 6,373 5,627 13.3 unrest in North Africa and the Middle East and +the 49 earthquake 69 696 – 28003 in first half, although this fell short of last year’s figure. Lufthansa 2012 Operating result €m 3 – 171 230 159 44.7 Japan.Entered Thanksin the Commercial to our operating Register flexibility, of we were able to react Systems is continuing with its restructuring programme. The seg- Gregor Schleussner EBIT €m – 128 64 450 370 21.6 Cologne District Court under HRB 2168 15 March Press Conference and Analysts’ relatively quickly to the new conditions and adjust+ 49 our 69 flight696 – 28012plans ment’s operating profit was slightly lower than in the previous year. EBITDA €m 739 876 – 15.6 880 777 13.3 Conference on 2011 results Editorialand workflows staff to the new business climate. At the same time, The Catering segment, which further increased its operating profit, Net profi t / loss for the period €m – 206 – 104 – 98.1 301 194 55.2 Deutsche Lufthansa AG Frankhowever, Hülsmann the increased (Editor) oil price had an adverse effect on business. developed extremely positively. 3 May Release of Interim Report Investor Relations Key balance sheet and cash fl ow statement fi gures Claudio Rizzo January – March 2012 LAC, Airportring Total assets €m 29,517 29,532 – 0.1 – – – InChristian this operating Schmidt climate, the Lufthansa Group succeeded in The results posted show that the Lufthansa Group is able to 60546 Frankfurt am Main 8 May Annual General Meeting Equity ratio % 26.5 24.3 2.2 pts – – – considerably growing its revenue for the first half of 2011 and maintain its charted course even in turbulent times. Demand on Deutsche Lufthansa AG, Germany in Cologne Net indebtedness €m 1,427 1,754 – 18.6 – – – Investorbreaking Relations even with an operating result of EUR 3m.Phone: This + is 49 a 69 696 – 28008the Japanese routes has begun to recover, which we see as 2 Aug. Release of Interim Report Cash fl ow from operating activities €m 1,740 1,420 22.5 961 856 12.3 significant improvement on last year’s figure,Fax: which +was 49 also 69 696 – 90990grounds for optimism. Nevertheless, improving our competitive- Concept, design and realisation January – June 2012 Capital expenditure (gross) €m 1,437 974 47.5 693 440 57.5 affected by one-off factors. E-mail: [email protected] remains a constant challenge and the subject of our undi- HGB Hamburger Geschäftsberichte GmbH vided attention. We kept 31 pursuing Oct. the Press respective Conference programmes and Analysts’ Key profi tability and value creation fi gures & Co. KG, Hamburg, Germany The Lufthansa 2nd Interim Report is a This development was largely driven by the Passenger Airline in all business segments and, whereConference necessary, on further interim stepped result Adjusted operating margin 1) % 0.4 – 1.0 1.4 pts 3.5 2.7 0.8 pts translation of the original German Lufthansa Group,Translation which by was able to clearly improve its result.