Lufthansa: record quarterly sales but profit erosion
(CercleFinance.com) - Lufthansa reports Q3 sales of E10.
7bn, up 5% y-o-y, i.e. the highest quarterly turnover in the company's history.
Nevertheless, the company reported a 9% contraction in adjusted EBIT, to E1.34bn, with an adjusted EBIT margin down from 14.3% to 12.5% (-1.8 pts).
Lufthansa posted net earnings of E1.09bn for the quarter, down 8%, giving EPS of E0.92 (-8%).
Group-wide, we are continuing to invest in the biggest fleet modernization in our history, in premium offers for our customers and in an even more international positioning. These three central pillars of our strategy will enable us to strengthen our role as Europe's leading airline group, Lufthansa said.
Overall, the Lufthansa confirms its full-year adjusted EBIT target of E1.4bn to E1.8bn.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
7bn, up 5% y-o-y, i.e. the highest quarterly turnover in the company's history.
Nevertheless, the company reported a 9% contraction in adjusted EBIT, to E1.34bn, with an adjusted EBIT margin down from 14.3% to 12.5% (-1.8 pts).
Lufthansa posted net earnings of E1.09bn for the quarter, down 8%, giving EPS of E0.92 (-8%).
Group-wide, we are continuing to invest in the biggest fleet modernization in our history, in premium offers for our customers and in an even more international positioning. These three central pillars of our strategy will enable us to strengthen our role as Europe's leading airline group, Lufthansa said.
Overall, the Lufthansa confirms its full-year adjusted EBIT target of E1.4bn to E1.8bn.
Copyright (c) 2024 CercleFinance.com. All rights reserved.