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Lufthansa revenue down 2.5%

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Staff writer ▼ | May 7, 2014
Deutsche Lufthansa AG achieved a further increase in its operating result for the first quarter of 2014. Total revenue amounted to EUR 6.5 billion, a 2.5% decline on the same period last year.
Lufthansa
LufthansaDeutsche Lufthansa AG achieved a further increase in its operating result for the first quarter of 2014. Total revenue amounted to EUR 6.5 billion, a 2.5% decline on the same period last year.


Total operating income also declined 2.5%, to EUR 7.0 billion. At the same time, total first-quarter operating expenditure was reduced 6.0% to EUR 7.2 billion. Fuel costs for the quarter declined by EUR 157 million or 9.4% to EUR 1.5 billion. The figure includes a EUR 20 million loss from fuel price hedging activities. Fees and charges were 0.8% below their prior-year level, owing in particular to the lower flight volumes.

The Lufthansa Group achieved an operating result of EUR -245 million for the first quarter of 2014, a period that is traditionally the weakest of the year. The net result for the quarter amounted to EUR -252 million, a substantial EUR 206 million improvement on the first three months of 2013. First-quarter earnings per share rose from the EUR -1.00 of 2013 to EUR -0.55.

The Lufthansa Group increased its investments in modernizing and maintaining its aircraft fleet to EUR 755 million in the first-quarter period. All in all, the Group invested EUR 859 million, some EUR 141 million more than in the same period last year.

Cash flow from operating activities totalled EUR 855 million, while free cash flow (operating cash flow less net capital expenditure) amounted to EUR 195 million. Net debt stood at EUR 1.6 billion, down EUR 61 million year-on-year. The balance sheet equity ratio as calculated in accordance with the new IAS 19 capitalization principles amounted to 17.9%, up 2.5 percentage points from the first quarter of 2013.


 

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