Lufthansa Group Q2 Profit Climbs - Quick Facts

(RTTNews) - Lufthansa Group (DLAKF, DLAKY) reported that its second quarter net income climbed to 881 million euros from the previous year's 259 million euros, with earnings per share improving to 0.74 euros from 0.22 euros last year.

The operating result or Adjusted EBIT increased to 1.1 billion euros from 392 million euros in the prior year.

Group revenues for the second quarter grew 17 percent year-over-year to 9.39 billion euros.

The Lufthansa Group expects demand for flight tickets to remain high for the rest of the year - people's desire to travel continues unabated. Currently, bookings for the months August to December 2023 are on average more than 90 percent of the booking volume of the pre-crisis level.

Adjusted EBIT in the third quarter is expected to exceed the pre-crisis level of 1.3 billion euros in 2019.

Due to the strong outlook for the second half of the year, the Group now expects to achieve an Adjusted EBIT of more than 2.6 billion euros in the fiscal year 2023. Previously, it was expected a significant increase from previous year's value of 1.5 billion euros.

Accordingly, 2023 is expected to form an important step towards achieving the financial targets the company has set itself for 2024. According to the targets, the Lufthansa Group expects to achieve an Adjusted EBIT margin of at least 8 per cent and an Adjusted Return on Capital Employed of over 10 percent.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com