Lufthansa Technik announces that it is heading for a new record annual result this year.
The global maintenance, repair and overhaul company (MRO) aircraft reached a new record adjusted EBIT (earnings before interest and tax) of 554 million euros (US$559 million) last year, and the company expects a higher figure overall of the year 2023 after recently publishing the best half-year result in the company’s history. “The aviation sector is recovering much faster than expected. This benefits us because we manage to exploit many of the opportunities that result for us thanks to the great commitment of our employees”said Dr. William Willms, CFO of Lufthansa Technik. “Our components business, in particular, had a very strong summer. The materials are in high demand in the market. We continue to attract customers thanks, among other things, to better availability of materials compared to our competitors,” he added.
Net profit after the third quarter of 2023 is now an adjusted EBIT of €459 million (+7%) despite headwinds from the dollar exchange rate and high inflation, while Lufthansa’s revenue Technik increased to 4.8 billion euros (+20%). ). Lufthansa Technik also assured future plans: by the end of September, the company had signed more than 580 new contracts during the year 2023, compared to around 700 for the whole of 2022. With this confidence, Lufthansa Technik invests in equipment and personnel and now has 22,290 employees.