Lufthansa Technik remains on track for success: 1.5 bn euros in revenue in first quarter

Lufthansa Technik remains on track for success: 1.5 bn euros in
revenue in first quarter


- The company again increased its earnings compared to the previous
- Engine business picks up again significantly
- Recruitment of new employees is also making progress

Lufthansa Technik remains on course for success. Following last
year's record result, the global market leader in aircraft
maintenance, repair and overhaul (MRO) also got off to a good start
in 2023. Despite strong headwinds such as high energy costs and
ongoing supply chain challenges in the industry, the company suceeded
in increasing earnings (adjusted EBIT) by five percent to 135.2
million euros in the first quarter compared to the same period last
year. Lufthansa Technik even increased its revenue by more than 15
percent to 1.5 billion euros. The targets for the full year are
correspondingly ambitious. For the first time since the covid-19
crisis, revenue is expected to exceed 6 billion euros, and earnings
are again targeted at 500 million euros.

"With our capabilities, we are optimally positioned between the
airlines and the manufacturers," says Dr. William Willms, Chief
Financial Officer of Lufthansa Technik. "We can proudly say that we
are the partner of choice for many customers." After signing more
than 700 new contracts during the entire last year and thus acquiring
new business worth 9.6 billion euros, Lufthansa Technik added another
167 contracts in the first quarter of this year - including, for
example, contracts for the maintenance, repair and overhaul of
auxiliary power units for Air France's Airbus A350 fleet and the
overhaul of landing gears and aircraft for Emirates' A380 fleet.

As expected, Lufthansa Technik is now also registering increased
demand in the engine sector. "There are significant catch-up effects
in the engine sector resulting from the crisis period. In addition,
there will be many new engines arriving in the workshops for their
first check in the near future," explains William Willms. "All in
all, we can say that we are once again on a very good track with
engines. And that will remain the case." In addition to the classic
MRO divisions, Lufthansa Technik is also focussing on digitization -
of the productive and administrative processes within the company on
the one hand and on the services it offers on the other. Lufthansa
Technik plans to further expand its recently introduced unique
Digital Tech Ops Ecosystem, driven by the three digital solutions
AVIATAR, AMOS and flydocs, and to support the technical operation of
aircraft completely digitally.

Lufthansa Technik is also making progress in recruiting new
employees. By the end of March 2023, more than 21,000 employees were
working for the company. "We are delighted to welcome the many new
employees," says William Willms, "and of course thank all those who
are already with the company for their efforts." The recruitment of a
four-digit number of new employees is planned for the full year 2023.

Publicación más antigua Publicación más reciente