Germany · Delayed Price · Currency is EUR Deutsche Lufthansa AG Earnings Call Transcripts
Fiscal Year 2026
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The AGM celebrated the company's 100th anniversary, reviewed strong financial results, and outlined ongoing transformation efforts, including fleet modernization and ITA Airways integration. Shareholders approved a higher dividend, new board members, and discussed challenges from regulatory and geopolitical pressures.
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Q1 2026 saw record revenues and improved EBIT despite geopolitical and fuel cost headwinds. Strong demand, especially in premium and long-haul, and disciplined cost and network actions support confidence in meeting full-year guidance, though headroom has tightened.
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Europe's largest airline group is driving growth through fleet modernization, premium product upgrades, and further integration of its network and brands. Strong cargo and MRO segments, disciplined expansion, and ongoing M&A activity support ambitious midterm financial targets.
Fiscal Year 2025
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Record revenues and improved profitability in 2025 were driven by operational gains, fleet modernization, and strong demand, especially on intercontinental routes. Despite Middle East disruptions and fuel volatility, 2026 EBIT is expected to rise significantly, supported by robust hedging and continued transformation.
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Celebrating its centenary, the group reported strong financials for 2025, driven by turnaround progress, robust North Atlantic demand, and successful cost management. Fleet renewal, premium product rollout, and strategic partnerships underpin a positive outlook despite geopolitical and regulatory challenges.
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Europe's largest airline group is executing a major fleet renewal, targeting 60%-65% next-gen aircraft by 2030, and driving synergies through integration and premiumization. Midterm goals include 8%-10% EBIT margin and €2.5B free cash flow, with positive near-term demand and disciplined growth.
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Q3 2025 delivered strong revenue and stable adjusted EBIT, supported by robust demand, operational stability, and successful cost management. Fleet modernization and premium product rollouts drove customer satisfaction, while guidance for 2025 and 2026 remains positive.
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A unified multi-hub, multi-brand strategy, digital transformation, and disciplined capital allocation underpin ambitious 2028–2030 targets: 8–10% EBIT margin, 15–20% ROCE, and over €2.5B free cash flow. Growth is driven by fleet renewal, premium product rollout, and business unit synergies.
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Q2 2025 delivered strong financial and operational results, with adjusted EBIT up 27% year-over-year and net income more than doubling. Strategic initiatives, including ITA Airways integration and fleet modernization, are driving early benefits, while cost pressures and demand volatility persist.
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The meeting highlighted record revenues and operational improvements, but also addressed challenges such as high costs, strikes, and aircraft delivery delays. Strategic initiatives include a major fleet renewal, integration of ITA Airways, and a continued focus on premium and leisure travel segments.
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Q1 2025 delivered record revenue above EUR 8 billion, with strong demand and improved operational performance, despite cost inflation and the Easter shift. Guidance for 2025 is reaffirmed, supported by favorable fuel prices and ongoing strategic initiatives.
Fiscal Year 2024
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2024 saw strong group results despite core airline losses, with record revenues and robust performance from Swiss, Eurowings, Brussels, Technik, and Cargo. 2025 is expected to bring significant EBIT growth, supported by operational improvements, ITA integration, and ongoing fleet renewal.
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Lufthansa Technik targets to nearly double revenues and EBIT by 2030, driven by global expansion, digitalization, and new high-margin business areas. Financial goals include >10% EBIT margin, 50% cash conversion, and 15% ROCE, with significant investments in new facilities and digital platforms.
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Q3 2024 saw record revenue of €10.7 billion, but adjusted EBIT fell 9% year-over-year due to cost pressures and underperformance at the core airline. The group is executing a major turnaround program, with strong results in other airlines and cargo, and confirms full-year EBIT guidance of €1.4–1.8 billion.
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Q2 2024 revenue rose 7% to €10 billion, but operating profit fell due to lower unit revenues, strikes, and cost inflation. Full-year EBIT guidance was cut to €1.4–1.8 billion, with recovery hinging on Cargo and Airlines' Q4. Strategic milestones included the Allegris rollout, ITA investment, and AirPlus sale.