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Lufthansa Announces FY Operating Profit Of €20 Mil

Tue Mar 12, 2002 5:08 pm

CNBC EUROPE has reported that Deutsche Lufthansa AG has reported an operating profit of €20 000 000 for the end of it's Financial Year.

News soon.
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Joined: Tue Oct 09, 2001 7:56 pm

RE: Lufthansa Announces FY Operating Profit Of €20 Mil

Tue Mar 12, 2002 7:31 pm

From reuters today

Lufthansa returns operating profit of 20 million euros - no dividend planned -
Wolfgang Mayrhuber appointed Deputy Chairman

According to provisional figures, the Lufthansa Group returned an operating
result of 20 million euros in the 2001 business year. Owing to the impact of the
terrorist attacks and the weakening global economy, this is well below the
operating result of 1.04 billion euros in the previous year. Extraordinary
depreciation (500 million euros) and provision for contingent losses (180
million euros) in the catering business as well as a distinctly negative net
interest led to a loss from ordinary activities of 754 million euros. The Group
loss for the period amounted to 591 million euros.
Changes in the group of consolidated companies lifted revenues by 10 per cent to
16.7 billion euros. Adjusted for those changes, revenues were slightly below
year-earlier level.
The Executive Board and Supervisory Board intend to refrain from paying a
dividend this year. The per-share dividend in the 2000 business year amounted to
0.60 euros.
At its meeting on March 11 2002, the Supervisory Board appointed Wolfgang
Mayrhuber as Deputy Chairman, effective April 1 2002. He has been member of the
Executive Board of Deutsche Lufthansa AG responsible for the autonomous
passenger business unit since January 1 2001.
Lufthansa will announce all the details on the annual results at the press
conference on April 25, 2002. They will also be available on the www.lufthansa- website.

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