{
  "docId": "019dd923-5eff-723e-9be7-5d6e73ab277d",
  "docSlug": "f9e84ffd149e06c5",
  "documentTitle": "2025 Annual Report",
  "authorId": "Lufthansa",
  "authorName": "Lufthansa Group",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "strategy_consulting",
  "sourceTypeLabel": "Strategy consulting",
  "presentationDate": null,
  "orientation": "landscape",
  "aspectRatio": 1.414,
  "pageNumber": 18,
  "pageCount": 414,
  "prevPage": 17,
  "nextPage": 19,
  "slideType": "appendix",
  "function": "summarize",
  "density": "dense",
  "nDataPoints": 3,
  "notes": "Page from an annual report detailing investor engagement and ADR statistics.",
  "elementsJson": [
    "paragraph"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-5eff-723e-9be7-5d6e73ab277d/18",
  "deckHref": "/decks/019dd923-5eff-723e-9be7-5d6e73ab277d",
  "deckJsonHref": "/decks/019dd923-5eff-723e-9be7-5d6e73ab277d.json",
  "deckAnchorHref": "/decks/019dd923-5eff-723e-9be7-5d6e73ab277d#slide-18",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "American Depositary Receipts (ADRs) offer an alternative to equity investment.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd952-7323-76ab-8d0e-16abc4229352",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "ADRs in circulation: 11,555,553",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd952-7323-76ab-8d0e-18c44570c350",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.3,
        "w": 0.36,
        "x": 0.083,
        "y": 0.0018
      },
      "kind": "paragraph",
      "text": "American Depositary Receipts (ADRs) offer an alternative to equity investment. In addition to its stock market listing in Germany, investors who are only allowed to invest in securities denominated in US dollars can also gain exposure to the Lufthansa Group via the Sponsored American Depositary Receipt Program (ADR). The programme is managed by Deutsche Bank Trust Company Americas. Lufthansa ADRs are also registered on the standardised trading and information platform OTCQX. At year-end 2025, 11,555,553 ADRs were in circulation (31 December 2024: 13,149,480). Based on the 1:1 ratio to the share, this corresponds to around 1% of the issued capital.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0f431620-fb18-4969-8aa8-3e0b2949155c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.3,
        "w": 0.36,
        "x": 0.083,
        "y": 0.0043
      },
      "kind": "paragraph",
      "text": "Lufthansa Group pursues intensive dialogue with investors. As in prior years, the Lufthansa Group once again provided its investors with timely and comprehensive information in the 2025 financial year. In addition to its quarterly reporting, the Executive Board and Investor Relations team held a large number of roadshows and investor conferences to discuss with institutional investors the current developments at the Group and its operating environment in 2025. The Chairman of the Supervisory Board also met investors in the context of a roadshow in early 2025, mainly to discuss corporate governance topics and the Company's steps to reduce its emissions. In-depth discussions were also held with investors in debt instruments.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c648f580-60d6-4fbf-bb74-bd8177cae4ff",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.3,
        "w": 0.28,
        "x": 0.382,
        "y": 0.0018
      },
      "kind": "paragraph",
      "text": "In May 2025, the Group met with around 1,500 shareholders who attended the Annual General Meeting, which was held online. At a Capital Markets Day which took place in September 2025, the Lufthansa Group's strategic orientation was explained and new mid-term financial targets announced. Financial strategy and value-based management. All publications, financial reports, presentations, the quarterly shareholder information letter and the latest news are available at www.lufthansagroup.com/investor-relations. The site also contains the financial calendar and the dates of all the conferences and shareholder events that the Lufthansa Group will be attending.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ecbb8bd0-9d62-48e4-8626-a1e08f6aed76",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.08,
        "x": 0.083,
        "y": 0.85
      },
      "kind": "title",
      "text": "Lufthansa share",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7d506b0d-af74-4bf5-837f-45e671463f09",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 77,
      "from": 1,
      "beatId": "019debc8-a14d-75be-b168-7b058245feaa",
      "arcName": "The Triple Take",
      "arcSlug": "triple-take",
      "beatName": "The Facts (What)",
      "beatSlug": null,
      "evidence": "Cover, key figures, board letter, history, share, strategy, fleet, segment results",
      "position": 1,
      "confidence": 60,
      "parentBeatName": null,
      "parentBeatSlug": null
    },
    {
      "to": 33,
      "from": 1,
      "beatId": "019debc8-a1de-7162-8cdf-c2397d4a891c",
      "arcName": "The Consultant's Gambit",
      "arcSlug": "consultants-gambit",
      "beatName": "Situation & Context",
      "beatSlug": null,
      "evidence": "Cover, key figures, board letter, history, principles, strategy intro",
      "position": 1,
      "confidence": 50,
      "parentBeatName": null,
      "parentBeatSlug": null
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}