Lufthansa business segments overview


Passenger Airline Group

The airlines in the Passenger Airline Group made good use of the positive demand trend. Passenger numbers went up sharply and at the same time the airlines continued their cost management, realising important synergies. Increased profitability meant that a sound operating profit was earned again, in spite of non-recurring expenses.

Passenger Airline Group

 

 

2010

Change
in %

1)

Before profit/loss transfer from other shareholders.

Revenue

€m

20,912

24.5

of which external revenue

€m

20,233

24.7

Operating result

€m

436

Adjusted operating margin

%

3.0

2.2 pts

Segment result

€m

572

EBITDA1)

€m

2,601

81.9

CVA

€m

–198

71.4

Segment capital expenditure

€m

2,047

7.9

Employees as of 31.12.

number

57,157

–1.6

Logistics

The earnings turnaround was even more pronounced in the Logistics segment. Lufthansa Cargo benefited particularly from the global economic recovery and the boom in German exports. The measures taken in prior years to safeguard earnings continued to have a strong effect. Following an operating loss in the previous year, Lufthansa Cargo reported record profits in 2010.

Logistics

 

 

2010

Change
in %

Revenue

€m

2,795

43.3

of which external revenue

€m

2,770

43.7

Operating result

€m

310

Adjusted operating margin

%

11.4

19.4 pts

Segment result

€m

330

EBITDA

€m

445

CVA

€m

233

 

Segment capital expenditure

€m

21

–16.0

Employees as of 31.12.

number

4,517

0.6

MRO

Lufthansa Technik is a late-cycle player and so suffered from still hesitant demand in the MRO market in 2010. Thanks to greater production flexibility and a broader product portfolio it was nevertheless able to continue its growth path and increase revenue. Lufthansa Technik again generated a strong operating profit, but as expected, it was below the record set the previous year.

MRO

 

 

2010

Change
in %

Revenue

€m

4,018

1.4

of which external revenue

€m

2,373

3.3

Operating result

€m

268

–15.2

Adjusted operating margin

%

7.4

–0.9 pts

Segment result

€m

319

–3.6

EBITDA

€m

412

–5.5

CVA

€m

172

4.9

Segment capital expenditure

€m

67

–44.6

Employees as of 31.12.

number

20,159

1.8

IT Services

Lufthansa Systems offers IT solutions for the airline industry and, despite the still difficult environment for the sector, was able to win new customers and orders. Revenue and earnings nevertheless remain under pressure. In 2010 a programme was therefore launched to reorient the company. Steps to cut costs and increase revenue are intended to shore up its competitiveness sustainably.

IT Services

 

 

2010

Change
in %

Revenue

€m

595

–1.7

of which external revenue

€m

232

–4.9

Operating result

€m

10

–37.5

Adjusted operating margin

%

1.8

–1.0 pts

Segment result

€m

–6

 

EBITDA

€m

45

–16.7

CVA

€m

–23

 

Segment capital expenditure

€m

36

–30.8

Employees as of 31.12.

number

2,935

–3.0

Catering

LSG Sky Chefs increased its revenue and confirmed its global market leadership in airline catering by expanding its range and signing new partnerships. Its operating profit was even higher than the previous year’s, which had been buoyed by non-recurring factors. The business segment benefited from higher passenger numbers and the recovery in the premium segment.

Catering

 

 

2010

Change
in %

Revenue

€m

2,249

7.0

of which external revenue

€m

1,716

8.0

Operating result

€m

76

5.6

Adjusted operating margin

%

3.4

–0.1 pts

Segment result

€m

87

16.0

EBITDA

€m

174

45.0

CVA

€m

–28

58.8

Segment capital expenditure

€m

38

–34.5

Employees as of 31.12.

number

28,499

0.4

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