On track for success: 1.5 bn euros in revenue in first quarter
Following last year's record result, the global market leader in aircraft maintenance, repair and overhaul (MRO) also got off to a good start in 2023. Despite strong headwinds such as high energy costs and ongoing supply chain challenges in the industry, the company suceeded in increasing earnings (adjusted EBIT) by five percent to 135.2 million euros in the first quarter compared to the same period last year. Lufthansa Technik even increased its revenue by more than 15 percent to 1.5 billion euros. The targets for the full year are correspondingly ambitious. For the first time since the covid-19 crisis, revenue is expected to exceed 6 billion euros, and earnings are again targeted at 500 million euros.
“With our capabilities, we are optimally positioned between the airlines and the manufacturers,” says Dr. William Willms, Chief Financial Officer of Lufthansa Technik. “We can proudly say that we are the partner of choice for many customers.” After signing more than 700 new contracts during the entire last year and thus acquiring new business worth 9.6 billion euros, Lufthansa Technik added another 167 contracts in the first quarter of this year - including, for example, contracts for the maintenance, repair and overhaul of auxiliary power units for Air France's Airbus A350 fleet and the overhaul of landing gears and aircraft for Emirates' A380 fleet.
As expected , Lufthansa Technik is now also registering increased demand in the engine sector. “There are significant catch-up effects in the engine sector resulting from the crisis period. In addition, there will be many new engines arriving in the workshops for their first check in the near future,” explains William Willms. “All in all, we can say that we are once again on a very good track with engines. And that will remain the case.” In addition to the classic MRO divisions, Lufthansa Technik is also focussing on digitization - of the productive and administrative processes within the company on the one hand and on the services it offers on the other. Lufthansa Technik plans to further expand its recently introduced unique Digital Tech Ops Ecosystem, driven by the three digital solutions AVIATAR, AMOS and flydocs, and to support the technical operation of aircraft completely digitally.
Lufthansa Technik is also making progress in recruiting new employees. By the end of March 2023, more than 21,000 employees were working for the company. “We are delighted to welcome the many new employees,” says William Willms, “and of course thank all those who are already with the company for their efforts.” The recruitment of a four-digit number of new employees is planned for the full year 2023.