Overall statement by the Executive Board on the economic position

Financial year 2023 was defined by a further recovery in demand for passenger flights after the coronavirus pandemic.

In particular due to the significant rise in demand for passenger flights in 2023, the Lufthansa Group increased its capacities to 84% of the pre-crisis level and its revenue increased by 15% year-on-year.
Adjusted EBIT was 76% up on the previous year at EUR 2.7bn.

Its positive earnings performance was driven by the Passenger Airlines and MRO segments. SWISS, Austrian Airlines, Brussels Airlines, Eurowings and Lufthansa Technik achieve record results.
The latter benefited from significantly higher demand for maintenance and repair services due to higher demand for passenger flights. The Lufthansa Group’s cargo business declined in financial year 2023 as the entire sector returned to normal.

In view of the positive earnings performance in the reporting year, the Executive Board and Supervisory Board will table a proposal at the Annual General Meeting to distribute a dividend of EUR 0.30 per share for the financial year 2023.

The Lufthansa Group also further strengthened its balance sheet and reduced its debt in the reporting year. Liquidity was at the same level as last year, which is significantly higher than before the crisis.
The Company has therefore built itself back stronger and has an even more stable base to cope with future crises.

Overall, the Lufthansa Group thus registered an extremely positive operating and financial performance in the reporting year. The Executive Board is confident that the Lufthansa Group will maintain this trend and continue to build on its position as Europe’s leading airline group.

Lufthansa Group Annual Report 2023