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            september 21, 2019

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Record year for Lufthansa Technik


Lufthansa Technik has announced record revenue levels in 2018, despite intensified price pressure and far-reaching investments in digitalisation, its international network and personnel. Sales revenues climbed by more than €500 million, surging from €5.404 billion to €5.918 billion, an increase of 9.5% above the previous year's total. The company generated adjusted EBIT of €425 million (previous year: €415 million), an increase of 2%. These figures apply to Lufthansa Technik and its 21 fully consolidated companies.
Lufthansa Technik thus outperformed the market in 2018. The Americas region produced the highest level of growth with a 20% increase in revenue year on year, ahead of Europe, the Middle East and Africa region with a gain of nearly 9%. Asia generated modest revenue growth of 3.4%.
For the first time, Lufthansa Technik now provides technical services for more than 5,000 aircraft. This figure grew in 2018 by about 600 to a total of 5,131 aircraft, an increase of nearly 13%, and amounts to about 20% of the commercial aircraft in operation around the world today.
The company's strong performance was also mirrored by new contracts. During fiscal year 2018, Lufthansa Technik gained 29 additional aircraft operators as customers and signed 576 contracts for new business worth €5 billion.
It says the aircraft MRO industry is undergoing a very dynamic transformation process: Business conditions are changing even as the market is set to grow steadily at an expected rate of at least 5% annually. More and more new aircraft types with new technologies, materials, components and engines are entering flight operations as part of a process that is unlike anything seen in decades. At the same time, new actors – the manufacturers of aircraft and components – are joining the growing MRO market. For this reason, Lufthansa Technik boosted its investments once again last year, from €233 million to €241 million. The focal points of these investments were the development of digital products and services, the expansion of the company's international production network, partnerships with manufacturers, particularly in the area of engine overhaul, and the hiring of new employees.
The focus of the company's business development is the digitalisation of the service range: AVIATAR, an independent and integrated platform for digital services, has established itself in the marketplace. The services offered by AVIATAR include predictive maintenance with integrated technical implementation. Flight operations will be added in the next step as a way of providing airlines with an end-to-end, uniform solution for fleet management, from technical operations and ground operations to flight operations. To ensure competition and guarantee airlines' independence in regard to their data in the long-term, Lufthansa Technik set up the AVIATION DataHub in March 2019. The stand-alone company offers an independent platform for all data generated by aviation.
In the area of engine maintenance, Lufthansa Technik moved ahead in 2018 with efforts to forge joint ventures with engine manufacturers. XEOS, a joint production platform with GE Aviation, celebrated its topping-out ceremony in 2018. Beginning in the spring of 2019, it will maintain, repair and overhaul the first large-sized engines from the latest generation of General Electric engines on behalf of their owners. EME Aero, a joint venture with MTU Aero Engines, laid the cornerstone last year for the construction of one of the largest and most modern MRO shops for state-of-the-art geared turbofan engines. This facility is scheduled to go into operation at the end of 2019.
Investments in digitalisation and the network were supported in 2018 by a substantial increase in the size of the company's workforce. The headcount of Lufthansa Technik and its 21 fully consolidated companies rose by an average of 6% during the year, from 21,194 (2017) to 22,537 (2018).
One critically important element of personnel development is the professional training of young people. Across Germany, 122 young employees began their training in 2018 in technical, industrial or commercial areas at the Lufthansa Technik Group. This number will rise to more than 200 on 1 August 2019, when the next training period begins.

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