Germany · Delayed Price · Currency is EUR Deutsche Lufthansa AG Earnings Call Transcripts
Fiscal Year 2026
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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 financial and operational results, with revenue up 4% and adjusted EBIT stable at EUR 1.3 billion. Premium and cargo segments outperformed, while disciplined growth and fleet renewal underpin a positive outlook for 2025 and beyond.
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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 AGM reviewed record revenues and strong group performance in 2024, despite losses at the core airline due to strikes and high costs. Strategic initiatives include a major fleet renewal, ITA Airways integration, and a turnaround program to boost profitability.
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Q1 2025 delivered record revenue above €8 billion, a 15% EBIT improvement, and strong cash flow, driven by robust demand and operational gains. Guidance for 2025 is reaffirmed despite Q3 booking softness, with cost inflation and geopolitical risks closely monitored.
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.