Deutsche Lufthansa : Raport anual 2021 - transmis de SSIF TRADEVILLE

NEW NORMAL. NEW STRENGTH.

Annual Report 2021

lufthansagroup.com

investor-relations.lufthansagroup.com

LUFTHANSA GROUP ANNUAL REPORT 2021 1

CONTENTS

• 2 Key figures
• 2 The Lufthansa Group
• 3 Business segments
• 4 The Executive Board
• 5 Letter from the Executive Board
• 7 Report of the Supervisory Board
  11 Lufthansa share
  14 Combined management report
  15 Principles of the Group

1. Business activities and Group structure
2. Goals and strategies

1. Fleet and route network

1. Employees

1. Research and development
2. Legal and regulatory factors

33 Economic report

33 Macroeconomic situation

34 Sector developments

36 Course of business

40 Earnings, assets and financial position

51 Comparison with original forecast and overall statement by the Executive Board on the economic position

53 Business segments

53 Network Airlines business segment

61 Eurowings business segment

65 Logistics business segment

68 MRO business segment

71 Catering business segment

74 Additional Businesses and Group Functions

76 Opportunities and risk report

76 Opportunities and risk management

79 Opportunities at an individual level

81 Risks at an individual level

92 Overall statement on opportunities and risks

93 Description of the accounting-related Internal Control System and risk management system in accordance with Section 289 Paragraph 4 and Section 315 Paragraph 4 HGB

• 94 Combined non-financial declaration
• • 95 About this combined non-financial declaration
  • 99 Environmental concerns

1. Customer concerns

1. Employee concerns

1. Social concerns
2. Business ethics and compliance

1. Responsible supply chain management
2. First-timeapplicability of the
   EU Taxonomy Regulation (EU) 2020/852
3. Summary

136 Forecast

136 Macroeconomic outlook

137 Sector outlook

138 Changes in business and organisation

138 Changes in reporting

139 Outlook Lufthansa Group

140 Overall statement by the Executive Board on the expected development of the Lufthansa Group

141 Corporate Governance

141 Supervisory Board and Executive Board

142 Mandates

144 Disclosures in accordance with Section 289a Paragraph 1 HGB and Section 315a Paragraph 1 HGB

147 Declaration on corporate governance in accordance with Section 289f HGB and Section 315d HGB

148 Notes to the individual financial statements of Deutsche Lufthansa AG (HGB)

153 Consolidated financial statements

1. Declaration by the legal representatives
2. Independent auditor's report

1. Remuneration report

1. Further information

1. GRI Content Index
2. Sustainable Development Goals (SDG) Index

1. Independent Auditor's Limited Assurance Report regarding the Non-Financial Declaration

1. Report of the independent auditor on the audit
   of the remuneration report pursuant to Sec. 162 (3) AktG
2. Ten-yearoverview

1. Glossary

1. Chart and table overview

1. Credits/Contact/Financial calendar 2022 and Disclaimer

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KEY FIGURES

LUFTHANSA GROUP ANNUAL REPORT 2021 2

The Lufthansa Group

The Lufthansa Group

The Lufthansa Group is an aviation group with operations worldwide. It is composed of the business segments Network Airlines, Eurowings, Logistics, MRO and Catering as well as the Additional Businesses and Group Functions.

T001  KEY FIGURES LUFTHANSA GROUP							2021	2020			Change
															in %
Revenue and result
Total revenue	€m			16,811	13,589	24
of which traffic revenue	€m			11,876		9,078		31
Operating expenses	€m			20,773		20,846		0
Adjusted EBITDA 1)	€m				-90					-2,890		97
Adjusted EBIT 1)	€m				-2,349					-5,451		57
EBIT	€m			-2,316					-7,353		69
Net profit/loss	€m			-2,191					-6,725		67
Key balance sheet and cash flow statement figures
Total assets	€m			42,538	39,484	8
Equity ratio	%						10.6		3.5			7.1 pts
Net indebtedness	€m			9,023		9,922			-9
Pension provisions	€m			6,676		9,531			-30
Cash flow from operating activities	€m				618					-2,328
Capital expenditure (gross) 2)	€m				1,329		1,273		4
Adjusted free cash flow 1)	€m			-855					-3,669		77
Key profitability and value creation figures
Adjusted EBITDA margin 1)	%						-0.5					-21.3			20.8 pts
Adjusted EBIT margin 1)	%						-14.0					-40.1			26.1 pts
EBIT margin	%						-13.8					-54.1			40.3 pts
ROCE	%						-7.4					-22.7			15.3 pts
Adjusted ROCE 1)	%						-7.5					-16.7			9.2 pts
Lufthansa share
Share price at year-end 3)	€			6.18	7.72			-20
Earnings per share	€			-2.99					-12.51		76
Traffic figures and environmental data 4)
Flights	number			460,029	390,263	18
Passengers	thousands			46,949		36,354		29
Available seat-kilometres	millions			145,139		109,828		32
Revenue seat-kilometres	millions				89,397		69,462		29
Passenger load factor	%						61.6		63.2			-1.6 pts
Available cargo tonne-kilometres	millions			11,867		10,560		12
Revenue cargo tonne-kilometres	millions				8,477		7,373		15
Cargo load factor	%						71.4		69.8			1.6 pts
Specific CO₂ emissions	grammes			101.6		105.2			-3
Employees
Employees as of 31 Dec	number			105,290	110,065			-4
Average number of employees	number			107,643		125,207			-14

1. Derivation ↗Financial strategy and value-based management, p. 20ff., Earnings, assets and financial position, p. 40ff.
2. Without acquisition of equity investments.
3. Previous year's figures adjusted for the effects of the issue of new shares in connection with the capital increase in September 2021.
4. Previous year's figures have been adjusted.

Date of publication: 3 March 2022.

KEY FIGURES

LUFTHANSA GROUP ANNUAL REPORT 2021 3

Business segments

Business segments

Network Airlines
T002  NETWORK AIRLINES	2021			Change in %
The Network Airlines segment comprises Lufthansa German
Revenue	€m		8,376	26
Airlines, SWISS, Austrian Airlines and Brussels Airlines. With	of which traffic revenue	€m		6,802			24
their multi-hub strategy, the Network Airlines offer their	Adjusted EBIT	€m		-3,486			25
customers a premium, high-quality product and service,	Adjusted EBIT margin	%			-41.6			29.0 pts
and a comprehensive route network combined with the	Adjusted ROCE	%			-23.7			4.2 pts
highest level of travel flexibility.	Segment capital expenditure	€m			1,035			8
	Employees as of 31 Dec	number		53,295			-7

Eurowings

The Eurowings business segment includes the flight operations of Eurowings and Eurowings Europe, as well as the equity investment in SunExpress. Eurowings is positioned as Europe's value carrier for private and business travel, with a focus on European point-to-point traffic, enabling its customers low-cost and flexible flying with innovative services.

T003  EUROWINGS			2021			Change in %
Revenue	€m		822	37
of which traffic revenue	€m		820			42
Adjusted EBIT	€m		-230			67
Adjusted EBIT margin	%		-28.0			89.6 pts
Adjusted ROCE	%		-16.4			27.0 pts
Segment capital expenditure	€m		254			140
Employees as of 31 Dec	number		3,563			15

Logistics

In addition to Lufthansa Cargo AG, the Logistics segment includes the airfreight container management specialist Jettainer group and the time:matters subsidiary, which specialises in particularly urgent consignments. The Heyworld subsidiary, which specialises in customised e-commerce solutions, and the investment in the airfreight company AeroLogic are also part of the segment.

T004  LOGISTICS			2021			Change in %
Revenue	€m		3,800	38
of which traffic revenue	€m		3,644			40
Adjusted EBIT	€m		1,493			93
Adjusted EBIT margin	%		39.3			11.3 pts
Adjusted ROCE	%		47.2			21.0 pts
Segment capital expenditure	€m		164			-26
Employees as of 31 Dec	number		4,162			-5

MRO

Lufthansa Technik is the world's leading independent provider of maintenance, repair and overhaul services for civil commercial aircraft. Lufthansa Technik AG serves more than 800 customers worldwide, including OEMs, aircraft leasing companies and operators of VIP jets,

as well as airlines.

Catering

The LSG group offers a comprehensive range of products, concepts and services related to in-flight service as well as for other areas, such as retail and food producers. LSG Sky Chefs is a global food specialist with the highest hygiene and quality standards for airlines, the home delivery market and retail.

T005  MRO				2021			Change in %
Revenue	€m		4,003	7
of which external revenue	€m			3,117	14
Adjusted EBIT	€m		210
Adjusted EBIT margin	%			5.2			15.4 pts
Adjusted ROCE	%			4.2			10.5 pts
Segment capital expenditure	€m		95			-38
Employees as of 31 Dec	number		20,569			-10
T006  CATERING				2021			Change in %
Revenue	€m		1,113			-15
of which external revenue	€m		1,085	2
Adjusted EBIT	€m		27
Adjusted EBIT margin	%			2.4			24.2 pts
Adjusted ROCE	%			2.1			19.4 pts
Segment capital expenditure	€m		23			-18
Employees as of 31 Dec	number		15,626			18

THE EXECUTIVE BOARD

LUFTHANSA GROUP ANNUAL REPORT 2021 4

The Executive Board

Deutsche Lufthansa AG

From left:
Harry Hohmeister, Chief Commercial Officer	Carsten Spohr, Chief Executive Officer
Born in 1964, diploma in commercial air transport,	Born in 1966, industrial engineer, Chairman of the Executive Board
Executive Board member since 2013,	and CEO since 1 May 2014, Executive Board member since 2011,
with the Lufthansa Group since 1985	with the Lufthansa Group since 1994

Michael Niggemann, Chief HR & Legal Officer	Remco Steenbergen, Chief Financial Officer
Born in 1974, lawyer, Executive Board member since 2020,	Born in 1968, MBA, RegisterAccountant, Executive Board
with the Lufthansa Group since 2007	member since 2021, with the Lufthansa Group since 2021
Christina Foerster, Chief Customer Officer	Detlef Kayser, Chief Operations Officer
Born in 1971, MBA, Executive Board member since 2020,	Born in 1965, aerospace engineer, Executive Board member
with the Lufthansa Group since 2002	since 2019, with the Lufthansa Group since 2016