Lufthansa Technik reported a 42pc rise in pre-tax profits to $81.36m despite a 7pc reduction in revenues, attributed to the sale of Lufthansa Technik Shannon Limited.
On a like-for-like basis, revenues increased by 1.3pc, fuelled by a recovery in demand for maintenance, repair, and overhaul services following the Covid-19 pandemic, with a n41pc revenue jump in the Engine Component Repair segment.
The group recognized operational challenges with leasing revenues declining by 13.5pc, prompting directors to emphasize the need for improved efficiency and product portfolio development to sustain growth.
The post-tax profit of $69.64m strengthened the group’s balance sheet, leading to an increase in shareholder funds to $768.38m and accumulated profits reaching $596.33m, despite a reduction in workforce from 412 to 348.
