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DGAP-Adhoc: Deutsche Lufthansa AG: Lufthansa Group adjusts its full year outlook and makes provision for a tax risk

DGAP-Ad-hoc: Deutsche Lufthansa AG / Key word(s): Change in Forecast/Legal Matter


Deutsche Lufthansa AG: Lufthansa Group adjusts its full year outlook and makes provision for a tax risk


16-Jun-2019 / 22:17 CET/CEST


Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.


The issuer is solely responsible for the content of this announcement.



Price deterioration in Europe caused by market-wide overcapacities and aggressively growing low cost competitors are putting pressure on yields in the European short-haul market. Lufthansa Group adjusts its full year financial outlook as a result. Network Airlines are now expected to reach an Adjusted EBIT[1] margin between 7 and 9 percent in 2019. For Eurowings, the Group projects an Adjusted EBIT margin between -4 and -6 percent. Based on the expectation of low-single-digit Group revenue growth, the Group's Adjusted EBIT margin is forecasted to reach 5.5 to 6.5 percent, resulting in Group Adjusted EBIT amounting to between EUR 2.0 and 2.4 billion in 2019.

In its financial accounts for the first half year of 2019, the Group will also make a provision for a tax risk in an amount of EUR 340 million because the Supreme Tax Court changed the case law established in prior years.

[1] Adjusted EBIT is not a financial term according to IFRS. Information regarding the calculation of the Adjusted EBIT can be found on page 234 in the Annual Report 2018 of Deutsche Lufthansa AG.


Contact:


Deutsche Lufthansa AG

Dennis Weber

Phone: +49 (0) 69 696 28001

Fax: +49 (0) 69 696 90990

investor.relations@dlh.de


 
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