Ten-year overview


 

 

 

2011

201010)

2009

2008

2007

2006

2005

2004

2003

2002

Figures have been rounded to full EUR millions. This results in differences to prior annual reports.

*

Figures are converted from DM into EUR.

1)

From 2005 profit/loss from operating activities before income taxes (up to 2004 profit/loss before taxes) including other taxes; previous years adjusted.

2)

From 2005 shareholders’ equity including minority interests; previous years adjusted.

3)

Capital increase by EUR 195,379,200 (76,320,000 shares) in 2004.

4)

Financial statements from 2004 according to new IAS 1 balance sheet standards; figures for previous years roughly comparable.

5)

From 2003 including Air Dolomiti, from 2006 including Eurowings.

6)

From 2004 net indebtedness plus pension provisions; previous years adjusted.

7)

From 2005 including borrower’s note loans (payable at any time).

8)

Until 2008 including the discontinued business segment Leisure Travel.

9)

Lufthansa Passenger Airlines, SWISS, Austrian Airlines, Germanwings (from January 2010) and Lufthansa Cargo.

10)

The income statement for the financial year 2010 has been adjusted in line with IFRS 5 Discontinued Operations because of the planned disposal of bmi.

11)

Without bmi.

Income statement Lufthansa Group

 

 

 

 

 

 

 

 

 

 

 

Revenue

€m

28,734

26,459

22,283

24,842

22,420

19,849

18,065

16,965

15,957

16,971

 

 

 

 

 

 

 

 

 

 

 

 

Result

 

 

 

 

 

 

 

 

 

 

 

Operating result

€m

820

1,020

130

1,280

1,378

845

577

383

36

718

Operating margin

%

2.9

3.9

0.6

5.2

6.1

4.3

3.2

2.3

0.2

4.2

Profit/loss from operating activities1)

€m

773

1,386

271

1,309

1,586

1,078

719

954

–176

1 544

Profit/loss before income taxes1)8)

€m

446

1,134

–134

730

2,125

1,129

875

541

–814

904

Net profit/loss attributable to shareholders of Deutsche Lufthansa AG

€m

–13

1,131

–34

542

1,655

803

453

404

–984

717

 

 

 

 

 

 

 

 

 

 

 

 

Main cost items

 

 

 

 

 

 

 

 

 

 

 

Staff costs

€m

6,678

6,491

5,996

5,692

5,498

5,029

4,853

4,813

4,612

4,660

Fees and charges

€m

5,000

4,318

3,762

3,499

3,174

2,824

2,543

2,542

2,290

2,239

Fuel for aircraft

€m

6,276

4,964

3,645

5,377

3,860

3,355

2,662

1,819

1,352

1,347

Depreciation, amortisation and impairment

€m

1,722

1,654

1,475

1,289

1,204

1,051

1,398

1,112

1,930

1,243

Net interest

€m

–288

–346

–325

–172

–194

–254

–248

–331

–341

–415

 

 

 

 

 

 

 

 

 

 

 

 

Balance sheet Lufthansa Group

 

 

 

 

 

 

 

 

 

 

 

Asset structure

 

 

 

 

 

 

 

 

 

 

 

Non-current assets4)

€m

18,627

18,963

17,696

14,975

14,076

12,969

12,318

11,543

10,885

12,103

Current assets4)

€m

9,454

10,357

8,696

7,433

8,244

6,492

6,954

6,527

5,847

7,034

of which liquid assets

€m

3,998

5,380

4,439

3,278

3,607

2,538

3,598

3,788

2,721

3,638

 

 

 

 

 

 

 

 

 

 

 

 

Capital structure

 

 

 

 

 

 

 

 

 

 

 

Shareholders’ equity2)

€m

8,044

8,340

6,202

6,594

6,900

4,903

4,522

4,014

2,696

4,172

of which issued capital3)

€m

1,172

1,172

1,172

1,172

1,172

1,172

1,172

1,172

977

977

of which reserves

€m

6,790

5,939

4,956

4,817

4,018

2,648

2,707

2,398

2,660

2,431

Liabilities

€m

20,037

20,980

20,190

15,814

15,420

14,558

14,750

14,056

14,036

14,965

of which pension provisions

€m

2,165

2,571

2,710

2,400

2,461

3,814

4,022

4,132

4,327

4,020

of which borrowing

€m

6,424

7,184

6,802

3,581

3,345

2,956

3,563

3,306

3,240

4,713

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

€m

28,081

29,320

26,392

22,408

22,320

19,461

19,272

18,070

16,732

19,137

 

 

 

 

 

 

 

 

 

 

 

 

Other financial data Lufthansa Group

 

 

 

 

 

 

 

 

 

 

 

Capital expenditure

€m

2,560

2,271

2,304

2,152

1,737

1,929

1,829

1,783

1,155

880

of which on tangible and intangible assets

€m

2,445

2,222

2,177

1,798

1,621

1,380

1,221

1,647

992

646

of which on financial investments

€m

115

49

127

354

116

549

608

136

163

234

 

 

 

 

 

 

 

 

 

 

 

 

Cash flow from operating activities

€m

2,356

2,992

1,991

2,473

2,862

2,105

1,956

1,881

1,581

2,312

Free cash flow

€m

713

1,542

251

612

2,688

584

815

1,061

1,024

2,813

 

 

 

 

 

 

 

 

 

 

 

 

Indebtedness

 

 

 

 

 

 

 

 

 

 

 

gross

€m

6,440

7,207

6,860

3,639

3,369

2,971

3,605

3,370

3,312

4,771

net7)

€m

2,328

1,596

2,195

–125

–768

–101

–143

–418

591

1,133

 

 

 

 

 

 

 

 

 

 

 

 

Deutsche Lufthansa AG

 

 

 

 

 

 

 

 

 

 

 

Net profit/loss for the year

€m

–116

483

–148

276

1,123

523

455

265

–1,223

1,111

Transfer to/from reserves

€m

230

–208

148

44

–551

–202

–226

–128

1,223

–85

Dividends proposed/paid

€m

114

275

320

572

321

229

137

229

 

 

 

 

 

 

 

 

 

 

 

 

Lufthansa share

 

 

 

 

 

 

 

 

 

 

 

Share price at year-end

9.19

16.36

11.75

11.19

18.22

20.85

12.51

10.55

13.25

8.78

Earnings per share

–0.03

2.47

–0.07

1.18

3.61

1.75

0.99

0.94

–2.51

1.88

Dividend per share proposed/paid

0.25

0.60

0.70

1.25

0.70

0.50

0.30

0.60

 

 

 

 

 

 

 

 

 

 

 

 

Operational ratios Lufthansa Group

 

 

 

 

 

 

 

 

 

 

 

Return on sales (Profit/loss before income taxes1) 8)/revenue)

%

1.6

4.3

–0.6

2.9

9.5

5.7

4.8

3.2

–5.1

5.3

Return on capital employed (Profit/loss before income taxes1) 8) plus interest on liabilities/total assets)

%

3.3

5.7

1.4

4.9

11.2

8.2

7.0

5.8

–1.7

7.6

Return on equity (Profit/loss after income taxes/shareholders’ equity2))

%

0.0

13.7

–0.4

8.4

25.5

18.3

13.5

10.2

–36.3

17.3

Return on equity (Profit/loss before income taxes1) 8)/shareholders’ equity2))

%

5.5

13.6

–2.2

11.1

30.8

23.0

19.3

13.5

–30.2

21.7

Equity ratio (Shareholders’ equity2)/total assets)

%

28.6

28.4

23.5

29.4

30.9

25.2

23.5

22.2

16.1

21.8

Gearing6) (Net indebtedness plus pension provisions/ shareholders’ equity2))

%

55.9

50.0

79.1

34.5

24.5

75.7

85.8

92.5

182.4

123.5

Leverage
(Net indebtedness/total assets)

%

8.3

5.4

8.3

–0.6

–3.4

–0.5

–0.7

–2.3

3.5

5.9

Internal financing ratio
(Cash flow/capital expenditure)

%

92.0

131.7

86.4

114.9

164.8

109.1

106.9

105.5

136.9

262.7

Debt repayment ratio Net indebtedness/adjusted cash flow from operating activities

%

49.7

59.7

38.1

97.0

154.7

54.9

48.7

45.3

29.9

39.6

Revenue efficiency
(Cash flow/revenue)

%

8.8

11.9

8.9

10.0

12.8

10.6

10.8

11.1

9.9

13.6

Net working capital (Current assets less current liabilities)4)

€bn

–0.3

0.5

–0.1

–0.6

0.0

–0.2

0.0

0.9

–0.3

–0.4

Non-current asset ratio (Non-current assets/total assets)

%

66.3

64.7

67.1

66.8

63.1

66.6

63.9

62.2

65.1

61.2

Depreciation ratio for aircraft/reserve engines (Accumulated depreciation/accumulated acquisition costs)

%

54.4

53.9

54.2

58.9

58.0

57.9

55.7

53.4

55.5

53.8

 

 

 

 

 

 

 

 

 

 

 

 

Staff ratios

 

 

 

 

 

 

 

 

 

 

 

Average number of employees

number

119,084

117,066

112,320

108,123

100,779

93,541

90,811

92,743

94,798

94,135

Revenue/employee

241,292

226,018

198,384

229,757

222,467

212,196

198,930

182,925

168,326

180,284

Staff costs/revenue

%

23.2

24.5

26.9

22.9

24.5

25.3

26.9

28.4

28.9

27.5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total available tonne-kilometres

millions

40,797.9

37,664.4

35,469.4

34,960.2

30,339.3

26,666.8

26,485.6

25,950.3

23,237.3

22,755.6

Total revenue tonne-kilometres

millions

29,906.1

28,274.3

24,942.7

24,972.5

22,612.8

19,215.7

18,726.6

18,445.0

16,226.5

16,080.8

Cargo load factor

%

73.3

75.1

70.3

71.4

74.5

72.1

70.7

71.1

69.8

70.7

Available seat-kilometres

millions

258,262.6

234,376.6

208,225.7

195,430.8

169,108.4

146,719.6

144,181.9

140,647.7

124,026.6

119,876.9

Revenue seat-kilometres

millions

200,376.1

186,451.5

162,286.2

154,155.5

135,011.3

110,329.5

108,184.5

104,063.7

90,708.2

88,570.0

Passenger load factor

%

77.6

79.6

77.9

78.9

79.8

75.2

75.0

74.0

73.1

73.9

Passengers carried

millions

100.6

92.7

77.3

70.5

62.9

53.4

51.3

50.9

45.4

43.9

Revenue passenger tonne-kilometres

millions

19,045.4

17,845.0

16,236.3

15,462.6

13,569.4

11,112.3

10,897.5

10,484.0

9,137.9

8,922.8

Freight/mail

tonnes

2,120,191

2,022,670

1,712,167

1,914,925

1,910,846

1,758,968

1,735,771

1,752,900

1,580,430

1,624,983

Freight/mail tonne-kilometres

millions

10,860.7

10,429.3

8,706.3

9,509.9

9,043.4

8,103.4

7,829.1

7,961.0

7,088.6

7,158.0

Number of flights

number

1,050,728

1,008,988

899,928

830,832

749,431

664,382

653,980

647,785

543,549

517,922

Flight kilometres

millions

1,374.4

1,240.9

1,177.9

1,124.6

979.3

794.6

794.1

798.7

703.6

668.1

Aircraft utilisation (block hours)

number

2,283,051

2,061,740

1,949,857

1,855,842

1,629,416

1,341,810

1,340,948

1,351,932

1,172,034

1,112,062

Aircraft in service

number

696

710

722

524

513

430

432

377

382

344