Lufthansa’s consolidated revenue fell by 1.2% to €31.7bn in 2016. However, earnings were sharply up as the group benefited from the pension settlement with UFO members, i.e. the crews (excluding the pilots). As a result of this one-time gain of €661m, EBIT increased by 36% to €2.28bn, otherwise it would have fallen by 3.7% to €1.61bn. Stated net earnings were up by 4.6% to €1.78bn which allows management to propose an unchanged dividend of €0.50, whereas we
16 Mar 2017
2017 earnings just short of our expectations
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2017 earnings just short of our expectations
Deutsche Lufthansa AG (LHA:WBO) | 0 0 (-0.3%) | Mkt Cap: 12,564m
- Published:
16 Mar 2017 -
Author:
Hans-Peter Wodniok -
Pages:
2
Lufthansa’s consolidated revenue fell by 1.2% to €31.7bn in 2016. However, earnings were sharply up as the group benefited from the pension settlement with UFO members, i.e. the crews (excluding the pilots). As a result of this one-time gain of €661m, EBIT increased by 36% to €2.28bn, otherwise it would have fallen by 3.7% to €1.61bn. Stated net earnings were up by 4.6% to €1.78bn which allows management to propose an unchanged dividend of €0.50, whereas we