Lufthansa Technik grows in 2017

Eleanor Steed
By Eleanor Steed March 19, 2018 15:49

Lufthansa Technik grows in 2017

Lufthansa Technik AG maintained its growth course in 2017 as sales revenue grew significantly, increasing by €260 million from the previous year’s €5.144bn to €5.404bn (+5%). The company achieved an adjusted EBIT (Earnings Before Interest and Taxes) of €415 million euros (previous year: €411 million).

“Lufthansa Technik is and remains the leading provider in our industry,” said the Chairman of the Executive Board of Lufthansa Technik, Dr. Johannes Bussmann. “The new contracts, with a total volume of more than €13 billion, provide impressive proof. Last year was the year of sales. Our team delivered a fantastic performance, demonstrating the importance of the internationalization approach adopted by Lufthansa Technik.”

Constanze Hufenbecher, Chief Financial Officer of Lufthansa Technik, considers that the company is on the right path. “The compass is consistently pointing to growth. The number of aircraft under contract is increasing, profitability is consistently strong and the earnings develop pleasantly, especially in view of high level of investment, particularly in digitization.” Basis of this positive development is the high level of investment activity: “Since 2014, we have almost doubled our annual investments to €233 million and we plan to pursue this approach further,” said Constanze Hufenbecher.

In 2017, the number of aircraft under exclusive support contracts with Lufthansa Technik grew by a further ten percent to more than 4,550. This equates to around 20 percent of all commercial aircraft worldwide.

“A growing number of customers and supported aircraft, along with considerable new business, demonstrate the great trust that we enjoy in the aviation industry around the world,” commented Dr. Johannes Bussmann.

In 2017, Lufthansa Technik laid the foundation for a portfolio of digital maintenance products with the establishment of its new “Digital Fleet Solutions” product division. The company presented AVIATAR, an integrated solution and an innovative platform whereby numerous apps, taken together, deliver a diverse and extensive range of digital maintenance, repair and overhaul (MRO) products and services.

“We have made a very ambitious entry into digitalization with AVIATAR. The expectations we are placing on ourselves here are very high, because we want to shape the digitalization of our industry with our modern fleet management solutions. With Wizz Air, we have already won an important AVIATAR partner with a large fleet from outside the Lufthansa Group,” said Dr. Johannes Bussmann.

Eleanor Steed
By Eleanor Steed March 19, 2018 15:49