Lufthansa: shares fall after weaker-than-expected results

(CercleFinance.com) - Lufthansa Group has said that it has achieved "another good set of results" in the first quarter, although analysts point out slightly weaker-than-expected results at the operating level.


Adjusted EBIT rose to 26 million euros over the first three months of the year, from 25 million the year before, the carrier said in a statement on Thursday.

Analysts at UBS still point out that the figure was "slightly weaker than expectations."

In a press release, Lufthansa said that the results reflected "significant one-off costs" at Eurowings, resulting from the integration of the insolvent Air Berlin.

Also, and despite new record numbers of passengers, total revenues fell 0.7% to around 7.6 billion euros, due to the implementation of a new IFRS accounting standard.

Without this, first-quarter revenues would have been increased by 4.5%.

The Lufthansa share was down 5.8% at 24.1 euros, giving the group a market capitalisation of around 11 billion euros.

Copyright (c) 2018 CercleFinance.com. All rights reserved.