Lufthansa Technik with a decline in profits in Q1/2024

Despite some challenges, Lufthansa Technik once again recorded a triple-digit million profit in the first quarter of 2024. With an adjusted EBIT of 116 million euros, compared to 135 million euros in the previous year, the result was below expectations, mainly due to strikes in Germany and material supply problems.

Despite the difficult start to the year, the company is aiming for results for the year as a whole at the previous year's level. Sales rose by 15 percent to 1,8 billion euros in the first quarter, while the adjusted EBIT margin fell to 6,6 percent. Nevertheless, Lufthansa Technik remains a sought-after partner, signing 174 new contracts in the first quarter, including with Cebu Pacific and Condor. The number of employees rose to over 23.000, and the company is planning further growth in 2024. However, the increased personnel costs are a challenge that must be overcome in the coming years.