Lufthansa Group has announced an increase in the 2022 earnings/cash flow forecast. The firm almost doubled revenue year-on-year to €10.1 billion ($10 billion) in the third quarter of 2022 (previous year: €5.2 billion) on a preliminary basis.
€1.1 billion was recorded from adjusted EBIT. This was an increase from previous year record of €251 million including an impact from strikes of around €70 million. In the third quarter, Lufthansa Group generated adjusted free cash flow of around €400 million on a preliminary basis, marking an increase from previous year record of €43 million.
Positive developments
The Net debt however decreased from June 30, 2022: €6.4 billion to around €6.2 billion in the third quarter. Net pension liabilities declined to around €2.1 billion (June 30, 2022: €2.8 billion) due to the increase in discount rate.
“Based on positive developments in the third quarter, the current booking situation, which continues to reflect strong demand for air travel in the coming months, and the expectation of another record result from Lufthansa Cargo in 2022, Lufthansa Group is raising its forecast for the full year, excluding currently unforeseen circumstances. It now expects to be able to achieve an adjusted EBIT of over €1 billion. The Group also expects an adjusted free cash flow of over €2 billion in 2022,” noted on the release.
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