Lufthansa Technik AG continued on its growth path in the past financial
year and closed 2019 with record revenue and earnings. Revenue rose by 13
percent to EUR 6.9 billion. Earnings before interest and taxes (adjusted
EBIT) grew by around eleven percent to EUR 493 million. The extent of the
effects of the worldwide aviation crisis affecting Lufthansa Technik cannot
yet be concretely foreseen, but the impact is already massive.
Dr. Johannes Bussmann, Chairman of the Executive Board, said: “With the
outbreak of the corona crisis, nothing is the same as it was just a few
weeks ago. The maintenance industry is already suffering from a decline
in air traffic. The full extent will hit us with a delay, which means a
forecast is currently not possible, but the first impacts are massive. Everything
depends on the duration of the crisis and how our customers will recover
from it. We have prepared ourselves with a very comprehensive package of
measures – also, to be able to deliver at any time. Especially now, our
customers need a reliable technical partner.”
The year 2019 continued a phase of strong global growth. Over the past five
years, Lufthansa Technik AG’s revenue has grown by almost 60 percent. In
the last financial year alone, the company acquired 25 new customers and
signed 625 contracts with new business worth EUR 4.1bn. Compared to 2018,
investments increased by 28 percent from EUR 244 million to EUR 313 million.
On annual average, in 2019 Lufthansa Technik employed almost 26,000 people
worldwide.
The strategy of long-term partnerships with engine and component manufacturers
(Original Equipment Manufacturers) reached important milestones with the
start of operations at the two joint ventures XEOS (with GE Aviation) and
EME Aero (with MTU Aero Engines) in 2019. Lufthansa Technik also continued
to drive the digitalization of the industry with its AVIATAR platform: More
than 30 different modules are now offered to meet the various needs of airlines.
“In the past year, we successfully continued our growth path: More than
5,000 serviced aircraft from more than 850 customers speak for themselves,”
explained Johannes Bußmann. “Due to the international nature of our company,
we believe that we can cope with the effects of the crisis.”
It is not yet clear how quickly the industry will recover from the decline.
It was last forecasted to grow by an average of seven percent per year until
2029.
All figures in this press release apply to Lufthansa Technik AG and its
25 fully consolidated companies, including Lufthansa Industry Solutions
for the first time. This integration is also taken into account in the comparative
figures for 2018. The full annual report is available at www.lufthansa-technik.com/financials
