Lufthansa Turns To Profit In Q4; Sees Adj. EBIT Loss In Q1, Higher Earnings In FY23

(RTTNews) - German flag carrier Deutsche Lufthansa AG (DLAKF, DLAKY)reported Friday that its fourth-quarter net income was 307 million euros, a significant improvement from previous year's loss of 314 million euros.

Earnings per share were 0.26 euro, compared to loss of 0.45 euro a year ago.

Adjusted EBIT was 575 million euros, compared to last year's loss of 42 million euros.

Lufthansa revenue for the quarter climbed 52 percent to 8.88 billion euros from last year's 5.83 billion euros due to the strong increase in demand for air travel.

Looking ahead for the first quarter, adjusted EBIT is expected to be negative. In line with regular seasonality, earnings are expected to be particularly strong in the quarters two and three.

For financial year 2023, Lufthansa Group expects a further significant improvement in Adjusted EBIT as demand for air travel remains high.

The company also sees further progress towards achieving the targets set for 2024, such as adjusted EBIT margin of at least 8% and Adjusted ROCE of at least 10%.

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