Lufthansa provisional results for 2001: Operating profit of 20 million euros—No dividend planned

Wolfgang Mayrhuber appointed deputy chairman
According to provisional figures, the Lufthansa Group posted an operating profit of 20 million euros in the 2001 business year. “In view of the losses running into the two-digit billions in our industry, we have attained our ambitious goal of avoiding an operating deficit. We have adopted the right course, which we must maintain, in order to emerge stronger from the crisis,” said Lufthansa Chairman and CEO Jürgen Weber.
At its meeting yesterday, the Supervisory Board also issued a clear signal indicating further pursuit of that successful course by appointing Wolfgang Mayrhuber as Deputy Chairman, effective April 1 2002. “The Supervisory Board’s decision is a strong commitment to retaining and expanding our leading position in the industry, and for the future of Lufthansa. Wolfgang Mayrhuber enjoys my complete confidence and that of the entire Executive Board,” commented Jürgen Weber. Wolfgang Mayrhuber has been a member of the Executive Board and CEO Passenger Business of Deutsche Lufthansa AG since January 1 2001.
The impact of the terrorist attacks and the weakening global economy gravely affected the past business year. As a result, operating profit remained well below the 1.04 billion euros returned in the previous year. Changes in the group of consolidated companies lifted revenues by ten per cent to 16.7 billion euros. Adjusted for those changes, revenues were slightly below the year-earlier level.

Extraordinary depreciation of around 500 million euros and provision for contingent losses of 180 millionen euros in the catering business as well as a distinctly negative net interest position led to a loss from ordinary activities of 754 million euros (2000: 1.2 billion euros profit). The Group loss for the period amounted to 591 million euros (2000: 689 million euros profit). Against this background, the Executive and Supervisory Boards intend to refrain from a dividend payment for the 2001 business year (2000: 0.60 euros per share).
Lufthansa will be disclosing all the details of the 2001 annual results at the press conference on April 25 2002. The information will also be available on the website.
Deutsche Lufthansa AG
Corporate Communications