The chief financial officer of Lufthansa Technik has commented on the MRO provider’s first half-year figures which show that, once again, the company has achieved a record result for the period from January to the end of June, thanks to a very strong second quarter.

William Willms said: “Of course we are always pleased to see record figures. But part of the truth is that non-operational special factors and one-off effects were significant contributors.

“We still expect to deliver results at the previous year’s level for the year as a whole.”

Wilms added: “We are still on course to grow further from a strong position. However, it won’t be a walk in the park.

“We are negatively impacted by the disproportionately high-cost increases and the ongoing difficulties in the supply of materials across the industry.

“On the positive side, there is definitely no lack of demand.”

After the first half of 2024, Lufthansa Technik’s earnings now amount to €319 million. The firm saw a further 9.6% increase compared to the previous record figure of €291 million from the previous year – despite the strike costs that significantly impacted the first quarter.

Revenue at the end of June amounted to €3.6 billion (previous year: €3.1 billion, +16.5%). The firm says the adjusted EBIT margin dropped accordingly, from 9.3% to 8.8%, and that this trend must be reversed in order to achieve the goal of its ‘Ambition 2030’ corporate strategy, namely a sustained double-digit margin.

The company concluded some 320 new contracts in the first half of the year, and digital activities, for example, are also developing very well with regard to the expansion of its product portfolio, customer base and revenue.

Lufthansa Technik also says there is also good news on the recruitment front – by the end of June, the number of employees was over 23,400, compared to 21,500 at the same time last year. It also remains strongly committed to promoting young talent – in early August, more than 300 young people will begin their training at German locations.

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