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MarketScreener Homepage  >  Equities  >  Xetra  >  Lufthansa Group AG    LHA   DE0008232125

LUFTHANSA GROUP AG

(LHA)
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Lufthansa to sell rest of catering unit LSG in 2020

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12/09/2019 | 03:17am EST
Strike of Germany's cabin crew union UFO at Frankfurt airport

Lufthansa will initiate the sale of the parts of its catering unit LSG it is not selling to Switzerland's Gategroup early next year, the German carrier said on Monday.

Lufthansa announced last month it is selling the European operations of LSG to Gategroup. The businesses it is selling generated revenues of around 1.1 billion euros (945 million pounds) last year - about a third of LSG's total.

On Monday, it said it had concluded that purchase agreement, setting up a new joint venture company for the Frankfurt and Munich operations which provide catering for its flights, with Lufthansa retaining a minority shareholding in that.

It added that it would initiate the sale of the rest of the group early in 2020.

Lufthansa has said the sale is part of its new strategy to focus on its airline business.

(Reporting by Emma Thomasson, editing by Louise Heavens)

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Financials (EUR)
Sales 2019 36 717 M
EBIT 2019 2 041 M
Net income 2019 1 237 M
Debt 2019 5 465 M
Yield 2019 5,01%
P/E ratio 2019 5,43x
P/E ratio 2020 4,45x
EV / Sales2019 0,34x
EV / Sales2020 0,38x
Capitalization 6 919 M
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Mean consensus HOLD
Number of Analysts 21
Average target price 17,16  €
Last Close Price 14,47  €
Spread / Highest target 45,1%
Spread / Average Target 18,6%
Spread / Lowest Target -12,2%
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Managers
NameTitle
Carsten Spohr Chairman-Executive Board & CEO
Karl-Ludwig Kley Chairman-Supervisory Board
Ulrik Svensson Chief Financial Officer
Roland Schütze Chief Information Officer
Matthias Wissmann Member-Supervisory Board
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