Lufthansa : alle condizioni attuali, 2009 profit target a rischio

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Alla chiusura della borsa di Francoforte per il fine settimana la compagnia di Colonia ha emanato questo comunicato :


Change in Forecast: Lufthansa enforces measures to secure operating profit

19.06.09
Adhoc Release pursuant to § 15 of the Securities Trading Act (WpHG).

In light of persistently weak demand development in passenger and freight business, structural changes in passengers' travel behaviour and rising fuel prices, Lufthansa enforces its measures to safeguard earnings. A positive operating result requires additional cost savings.

Falling revenue due to lower volumes and prices continued across the sector in the second quarter of this year. At the same time, the fuel price has gone up again by some 50 per cent since the end of the first quarter, without being based on any improvement in demand from the real economy. From a current perspective, a continuation of these developments would jeopardise the targeted operating profit.

In addition to the steps already being undertaken throughout the Group to cut costs and capacity all business segments will take further actions to safeguard earnings. The goal is to avert an operating loss in the current financial year and to sustainably increase the earnings power in the following years.


www.lufthansa-financials.com/en/mel...t-massnahmen-zur-sicherung-eines-operati.html

 

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Lufthansa Cuts Pft Goal,Cites Weak Demand,Fuel Price

By Jan Hromadko
Of DOW JONES NEWSWIRES


FRANKFURT (Dow Jones)--German flag airline Deutsche Lufthansa AG (LHA.XE) Friday issued a profit warning, saying its goal is to "avert and operating loss" in 2009, after previously guiding for a "distinctly positive" operating result in the current year.

Lufthansa cited continued weak demand for passenger and cargo air traffic as well as a renewed rise in fuel costs since the end of the first quarter of 2009.

Lufthansa had previously said it expects 2009 operating profit to fall considerably from the EUR1.35 billion achieved a year earlier, but it continued to targeted a "distinctly positive" operating result this year.

The warning comes after the International Air Transport Association on June 8 revised its forecast for an accumulated 2009 global airline industry loss to $9 billion from its previous estimate for a loss of $4.7 billion.

LBBW analyst Per-Ola Hellgren, who rates Lufthansa as buy, said the revised profit guidance by Lufthansa was surprising given that the carrier was bucking the trend in the industry when it reported relatively solid first-quarter results.

"The conclusion has to be that Lufthansa doesn't really expect the market environment will improve much in the remainder of the year," Hellgren said.

Lufthansa issued the statement after market close on the Frankfurt stock exchange. The airline's shares closed down EUR0.62, or 0.1%, at EUR8.79 in a broadly flat market.

Lufthansa, which despite the recession is attempting to take over European competitors like Austrian Airlines AG (AUA.VI), the U.K.'s British Midland Airways and Brussels Airlines, said fuel prices have risen around 50% since the end of the first quarter of the year.

The company noted this development wasn't "based on any improvement in demand from the real economy."

It added that this development was accompanied by a continuation of falling revenue due to lower volumes and prices.

"From a current perspective, a continuation of these developments would jeopardize the targeted operating profit," it said.

In reaction, Lufthansa will step up its efforts to cut costs and capacity, the company said.

"In addition, the steps already being undertaken throughout the group to cut costs and capacity all business segments will take further actions to safeguard earnings," the company said.

A company spokeswoman declined to elaborate on the measures the company intends to take to improve its profitability.

Lufhansa Chief Financial Officer Stephan Gemkow earlier this year said the company has already identified and prepared further capacity reductions. Long-haul capacity, for instance, could relatively quickly be reduced by 8% if the demand situation required such measures, Gemkow in late April.

Company Web site: www.lufthansa-financials.com


The Wall Street Journal
-By Jan Hromadko, Dow Jones Newswires; +49 69 29 725 503; jan.hromadko@dowjones.com