Lufthansa AG Prelim. H1 Adj. EBIT Rises; Increases 2017 Forecast - Quick Facts

(RTTNews) - Deutsche Lufthansa AG (DLAKF, DLAKY) reported that, based on preliminary figures, its first-half adjusted EBIT came to 1.04 billion euros compared to 529 million euros, prior year. The passenger airlines achieved a cumulative adjusted EBIT of 680 million euros compared to 352 million euros. Cumulative Adjusted EBIT for the remaining business segments (including consolidation and reconciliation) came to 362 million euros compared to 177 million euros.

The company generated revenues of 17.0 billion euros in the first six months of 2017 compared to 15.0 billion euros, previous year. Unit revenues at constant currency increased by 0.5 percent on the same period of the previous year.

The company said, as opposed to the previous forecast, in particular revenue and operating profit developed better than expected due to strong demand. Pre-bookings for the economically very important third quarter have stabilized.

Looking forward, the Executive Board of Deutsche Lufthansa AG increased its forecast for the year from an adjusted EBIT, slightly below previous year" to "above previous year". The expected organic capacity growth in the second half-year is expected to be 4.7 percent. Unit revenues at constant currency will be negative in the second half-year compared to the prior-year period.