Group functions improve earnings contribution


The results for the segment Other are largely determined by the Group functions, whose earnings reflect the currency hedging and financing activities carried out by Deutsche Lufthansa AG on behalf of the companies in the Group. Fluctuations in exchange rates therefore have a marked effect on the segment result.

In 2011 the performance of the Group functions was again driven mainly by currency movements. Overall, exchange rate movements resulted in a net loss. Whereas total operating income fell slightly by 1.9 per cent to EUR 728m, operating expenses declined much faster, falling 13.5 per cent to EUR 891m, partly due to exchange rate movements and the non-recurring effect of an extraordinary payment the previous year. The result therefore improved by 43.4 per cent to EUR –163m.

Clear improvement in segment revenue and result

The segment Other reported total operating income of EUR 1.4bn in 2011. Currency movements were the main reason for the year-on-year improvement of 9.9 per cent. Operating expenses moved the other way, falling in the same period by 0.8 per cent to EUR 1.5bn, also due to exchange rates. The operating result therefore improved by 59.3 per cent to EUR –92m. The segment result also improved substantially to EUR –123m (+37.2 per cent).

Other

 

2011
in €m

2010
in €m

Change
in %

*

Before profit/loss transfer from other companies.

Total operating income

1,354

1,232

9.9

Operating result

–92

–226

59.3

Segment result

–123

–196

37.2

EBITDA*

51

106

–51.9

Segment capital expenditure

30

17

76.5

Employees as of 31.12.

3,999

3,752

6.6

Average number of employees

3,914

3,731

4.9