Annual Report 2017

Lufthansa Technik Group at a glance

Flying has always held a great fascination for the human race. More and more people are traveling by plane, more frequently, for both private and business reasons. More aircraft were in operation in the past year than ever before - and looking to the years ahead, no end is in sight for this trend.

The indicators for our company pointed to growth, too. We achieved five percent revenue growth with a new all-time high. We now have around 4,556 aircraft under contract. This means that that we are providing technical support for approximately one in five commercially operated aircraft worldwide.

We have once again demonstrated our leading position - as a service provider for maintenance, repair and overhaul of aircraft, their components and engines, as an outfitter of government and VIP aircraft, and as a manufacturer of cabin systems. This is also reflected in the order books: New orders valued at round 12 billion euros bear witness to the great trust placed in the performance of our workforce by both existing and new customers.

In 2017, once again, changes in the industry presented us with great challenges. New technologies, with new materials and manufacturing/repair methods for aircraft, components and engines demand an expansion of our capabilities and transform the competitive environment as a whole.

More than anything else, digitalization is drastically transforming our industry. Last year, in order to take advantage of the opportunities presented by this trend, we brought "Aviatar" to market. This is an integrated software platform that provides a broad spectrum of digital products and services for the aviation industry.

We were also successful in other fields. In Poland, for example, in collaboration with our partner GE Aviation, we laid the foundation stone for our new XEOS joint venture, and we agreed to established another joint venture for engine overhaul with MTU Aero Engines. Lufthansa Technik Component Services (LTCS) significantly expanded its capacity in Tulsa, Oklahoma, whilst in Germany we invested 60 million euros and opened a new wheels and brakes workshop. These are just some examples of how we are organizing our international growth.

The company's success in 2017 is essentially the product of the know-how and the commitment of its employees. We thank them all for what they have achieved. We also thank our customers for the cooperative partnership and their trust in us.
 

    2017 2016
Revenue thousands of euros 5,403,593

5,143,607

Result from operating activities thousands of euros 380,061 382,824
Earnings before interest and taxes
(Adjusted EBIT)
thousands of euros 414,827 411,315
Earnings before tax (EBT) thousands of euros 376,926 320,807
Investments thousands of euros 233,472 216,443
Depreciation on assets thousands of euros 119,613 106,888
Balance sheet total thousands of euros 5,492,783 5,038,047
Employees (year average)   21,194 20,708
Personnel expenditure thousands of euros 1,356,237 1,272,271