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Lufthansa Technik AG Significantly Increases Turnover and Profit

Headquartered in Hamburg, the MRO and outfitting specialist successfully continued its growth course, winning 27 new clients

Sales revenues grew by 17.6 per cent to around 5.1 billion euro (+762 million euro). The company achieved 20 per cent growth in its adjusted EBIT to 454 million euro (previous year: 380 million euro). These are key figures revealed in the consolidated annual report for Lufthansa Technik AG and 22 holdings.

More Business With External Customers

Business with customers outside the Lufthansa Group grew disproportionately. External revenue from outside the Group grew by 21.8 per cent to 3.3 billion euro. Revenue from companies within the Group rose over the previous year to 1.8 billion euro (+179 million euro), essentially as a result of the largest modification programme in Lufthansa’s history. Revenue development was further aided by the US dollar exchange rate.

27 New Customers

In 2015, Lufthansa Technik AG (LHT) acquired 27 new customers, now serving some 800 clients. LHT also concluded 375 new contracts with a total volume within the company itself of 3.1 billion euro for 2015 and the following years. The number of aircraft supported by Lufthansa Technik rose by twelve per cent to around 3,700.

Important contracts cover new aircraft such as the Airbus A350 and the Boeing 787. Comprehensive new component services contracts, for example, have been signed with Finnair, the first European operator of the new Airbus A350, and Air Europa Lineas Aéreas for its Boeing 787 fleet. LHT thus supports all of the world’s modern airliners, including the A320neo.

Investments in Domestic and International Sites

With the opening of a new overseas location in July 2015, in Puerto Rico, Lufthansa Technik now has its own overhaul site in the important American market. The opening of the first two of five planned overhaul lines at Lufthansa Technik Puerto Rico was an important step in the company’s ongoing globalisation. In Asia, Lufthansa Technik Philippines brought additional hangar space for the overhaul of Airbus A380 and Boeing 777 aircraft online. Construction work has also begun for a new wheels and brakes workshop in Frankfurt, representing an investment of around 60 million euro in this German site.

International Presence to Be Strengthened

“The market is growing – especially in Asia and South America. And our customers expect us to be close to them. We will therefore continue to further expand our international presence, so as to take advantage of the expected growth in international aviation,” said Johannes Bussmann.

The market for maintenance and servicing in aviation will grow further, but it is also going to change significantly, with more aircraft models with new technologies, materials, components, and engines entering operation than ever before. At the same time, new competitors are aggressively entering the market.

Huge Investments Into R & D

For 2016, the company expects turnover growth accompanied by a significant decline in profit. The company therefore significantly invested into research and development last year. Major areas of focus are innovation and product development, including new technologies, mastering new materials, and the automation of repair processes. Digitalisation is a defining trend, set to bring massive changes to the industry in the coming years.

“Lufthansa Technik can and must be at the forefront of this. That is why we are investing many millions of euros in development and research – right here at our Hamburg site,” emphasised the Chairman of the Executive Board at Lufthansa Technik AG, Dr. Johannes Bussmann

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