The Lufthansa group generated consolidated revenues of EUR32.1 billion (US$36.2 billion) in 2015, a 6.8% increase on the previous year.
The adjusted EBIT, the leading indicator of economic success, increased by 55% to EUR1.8 billion. Hence, the result sits within the forecast range defined last October, even including some EUR100 million earnings impact as a result of strikes in the fourth quarter, said the company in a written statement.
Except for Lufthansa Cargo, all business segments contributed to the significant earnings improvement. The adjusted EBIT for the group’s passenger airlines more than doubled, and the two biggest service companies, Lufthansa Technik and LSG SkyChefs, both posted double-digit percentage earnings growth.
However, the earnings contribution of Lufthansa Cargo declined 40% in 2015 to EUR74 million.
“The airfreight market had seen sizeable overcapacities from the beginning of the 2015 summer flight plan onwards, with a correspondingly negative impact on Lufthansa Cargo’s load factors and yields,” said a company statement.
The carrier’s cargo volume last year shrank 3.1% to 1.9 million tonnes, while load factor was 66.3%, down 3.6 percentage points, according to figures published by CAPA.
In its group annual report for 2015, the airline stated: “Traffic revenue in the Logistics segment was down by 3.8 per cent year on year, at €2.3bn. The decline stemmed from lower prices (–8.4%) and lower volumes (–2.9%), offset partially by positive exchange rate effects (+7.5%).”
Carsten Spohr, chairman of the executive board & CEO of Deutsche Lufthansa AG, said 2015 was a good year for the group, and the company expects to again slightly improve its adjusted EBIT in 2016, with the passenger airlines to be prime drivers of earnings growth.
“Thanks to the generally positive outlook for both the industry and for the global economy as a whole, the Lufthansa Group expects a positive performance in the financial year 2016… a further reduction in yield is expected, particularly in the Lufthansa Group home markets,” said the official statement.
Lufthansa Cargo also expects to report slightly improved earnings for 2016. The air cargo unit operates its own fleet of cargo aircraft, comprising of 14 Boeing MD11Fs and five B777Fs.
