COLOGNE (dpa-AFX) - Deutsche Lufthansa AG (DLAKY), the German flag carrier, on Thursday registered a surge in net profit for the full year, reflecting an increase in revenue, supported by higher travel demand.
For the 12-month period, the airline reported a net income of 1.673 billion euros or 1.40 euros per share, higher than 791 million euros or 0.66 euro per share, reported last year.
EBIT surged to 2.669 billion euros from previous year's 1.419 billion euros.
Excluding special items, EBIT was 2.682 billion euros, compared with 1.520 billion euros a year ago.
Adjusted EBIT margin increased to 7.6 percent from last year's 4.9 percent.
A total of 123 million passengers travelled with the airlines of the Group, a 20 percent increase from compared with 102 million a year ago.
The Group increased the number of flights offered by 14 percent to 946,000. The number of seats on offer was gradually expanded over the course of the year. On average, the airlines offered 84 percent of 2019 capacity last year.
The company noted that the seat load factor also improved by 3.1 percentage points to around 83 percent, returning to pre-crisis levels.
Revenue was 35.422 billion euros, up from 30.895 billion euros last year.
For the full year, the company will pay a dividend of 0.30 euro per share.
For the first-quarter, the airline expects a wider adjusted EBIT loss, due to the impact of the strikes on earnings and a decline in profits in the logistics division, which in the first quarter of the last year still benefited from the exceptionally strong development of the air freight market in connection with the Covid-19 pandemic.
Lufthansa is also investing around 4.5 billion euros in new aircraft, new seats, lounges, improved culinary and digital offerings in order to boost customer satisfaction.
Citing a strong demand, the Group projects a significant rise in annual revenue. The unit revenues of the passenger airlines are expected to be stable or only slightly below the previous year level, while unit costs are expected to remain stable.
Lufthansa projects its annual adjusted EBIT to be on the same level as in 2023 with an adjusted EBIT margin of at least 8 percent. Full-year net capex is expected to reach 2.5 billion euros to 3 billion euros.
For the full year, the Group anticipates an average capacity offer of around 94 percent compared to 2019. This corresponds to a year-on-year growth of around 12 percent.
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