{
  "docId": "019dd923-5eff-723e-9be7-6b44a71370b8",
  "docSlug": "7811ec53288e8821",
  "documentTitle": "2025 Q3 Interim 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": 22,
  "pageCount": 39,
  "prevPage": 21,
  "nextPage": 23,
  "slideType": "executive_summary",
  "function": "summarize",
  "density": "overcrowded",
  "nDataPoints": 1,
  "notes": "This is a text-heavy interim management report page.",
  "elementsJson": [
    "paragraph"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-5eff-723e-9be7-6b44a71370b8/22",
  "deckHref": "/decks/019dd923-5eff-723e-9be7-6b44a71370b8",
  "deckJsonHref": "/decks/019dd923-5eff-723e-9be7-6b44a71370b8.json",
  "deckAnchorHref": "/decks/019dd923-5eff-723e-9be7-6b44a71370b8#slide-22",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "For the 2025 financial year, the Lufthansa Group still predicts significantly higher Adjusted EBIT than in the previous year.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd952-7323-76ab-8cf1-c4c74f15b5ba",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "Adjusted EBIT: 4%",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd952-7323-76ab-8cf1-c88f29ddedfc",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.42,
        "x": 0.077,
        "y": 0.503
      },
      "kind": "paragraph",
      "text": "Risks apply due to factors including possible tariffs, for example in connection with the procurement of spare parts – particularly in relation to the raw materials these contain, such as steel and aluminium. At the same time, tariffs may aggravate trade tensions between the USA and key trade partners such as China and the EU, which may lead to an economic slowdown. Factors including the tariffs on pharmaceutical products announced by the US government constitute an earnings risk for the Logistics business segment.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "1cbd6228-6963-4fec-94c3-8111674ce33f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.42,
        "x": 0.503,
        "y": 0.345
      },
      "kind": "paragraph",
      "text": "For the 2025 financial year, the Lufthansa Group continues to predict a clear increase in revenue and Adjusted EBIT significantly higher than in the previous year.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "34d935d3-74bc-40c2-a647-0e51e9950b45",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.42,
        "x": 0.503,
        "y": 0.211
      },
      "kind": "paragraph",
      "text": "For the 2025 financial year, the Lufthansa Group still predicts significantly higher Adjusted EBIT than in the previous year. The Lufthansa Group continues to anticipate that available capacity for the Passenger Airlines in the 2025 financial year will be around 4% higher than in the previous year.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "3b6a5b34-0024-4010-a6d4-1b74c5c2cdbf",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.42,
        "x": 0.077,
        "y": 0.385
      },
      "kind": "paragraph",
      "text": "Factors such as the exchange rate trends, the price of ETS certificates and a positive trend for unit revenues in the Passenger Airlines business segment in the fourth quarter represent opportunities for the operational and financial outlook.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "46ee0e93-d9fe-401d-be21-18f8e427cb28",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.42,
        "x": 0.077,
        "y": 0.211
      },
      "kind": "paragraph",
      "text": "Outlook subject to uncertainties. In view of the short booking cycles in the passenger business, the fact that freight business is mainly driven by the spot market, doubts about the exact delivery dates for new aircraft and the approval of the cabin layout as well as uncertainties relating to the macroeconomic and geopolitical environment, the financial outlook for the Lufthansa Group is subject to a certain degree of uncertainty.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "5a5a3655-6267-42ad-b2e4-06b7e91969b0",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.42,
        "x": 0.503,
        "y": 0.42
      },
      "kind": "paragraph",
      "text": "Net capital expenditure in the 2025 financial year, excluding the acquisition/sale of shares, is expected to be between EUR 2.7bn and EUR 3.3bn.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "8c657ee3-ab98-4249-813e-7ba75fb6d4d0",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.42,
        "x": 0.503,
        "y": 0.498
      },
      "kind": "paragraph",
      "text": "Based on the forecast earnings performance, Adjusted free cash flow in the 2025 financial year is anticipated to be roughly in line with the previous year's level.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b3e441b1-c3d8-473e-b5be-548018e93edf",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.42,
        "x": 0.503,
        "y": 0.575
      },
      "kind": "paragraph",
      "text": "The outlook for the Passenger Airlines and Logistics business segments remains unchanged by comparison with the information provided in the Annual Report 2024.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "cc6b3180-a713-4e0a-913e-09fbcc249d73",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.11,
        "w": 0.42,
        "x": 0.503,
        "y": 0.652
      },
      "kind": "paragraph",
      "text": "In the fourth quarter of 2025, the MRO business segment is expected to achieve an earnings volume in line with its previous year's level. This means that it will no longer be able to achieve the previously predicted significant increase in its Adjusted EBIT for the year as a whole. This revised forecast reflects negative earnings effects due to tariffs and exchange rate movements.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d90102ca-d420-496d-8355-fdbc627b5284",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.035,
        "w": 0.198,
        "x": 0.077,
        "y": 0.148
      },
      "kind": "title",
      "text": "FORECAST",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "738329b8-7c46-4fd1-afe8-35d5dc70bba6",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Executive summary",
      "slug": "executive-summary",
      "agent": null,
      "layer": "slide",
      "matchId": "30995e98-8fd7-4cd2-ab04-fa34e3eb3506",
      "evidence": "The slide contains a summary of the forecast and outlook for the company.",
      "confidence": 0.8
    }
  ],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 39,
      "from": 21,
      "beatId": "de702d75-8f16-4504-96a7-05aa897cc188",
      "arcName": "The Consultant's Gambit",
      "arcSlug": "consultants-gambit",
      "beatName": "Impact & Next Steps",
      "beatSlug": "consultants-gambit-impact-next-steps",
      "evidence": "The report concludes with a discussion of opportunities, risks, and future outlook.",
      "position": 3,
      "confidence": 0.8,
      "parentBeatName": "Resolution",
      "parentBeatSlug": "resolution"
    }
  ],
  "loops": [
    {
      "to": 22,
      "from": 21,
      "name": "Cost Of Inaction",
      "slug": "27-cost-of-inaction",
      "bestFor": "Urgent budget requests, compliance, risk mitigation",
      "matchId": "369d30ce-427c-47b1-9432-260b4eecd578",
      "evidence": "The risk register section emphasizes the importance of proactive risk management.",
      "position": 0,
      "objective": "Highlighting the risks and consequences of not addressing current challenges",
      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
      "confidence": 0.6,
      "description": "Quantify what happens if the audience does nothing"
    },
    {
      "to": 23,
      "from": 22,
      "name": "Why Now",
      "slug": "15-why-now",
      "bestFor": "Sales pitches, fundraising, requesting immediate budget approval",
      "matchId": "988df4e7-25f0-465a-89c1-f7dd977baf2d",
      "evidence": "The forecast section provides an outlook on the company's future performance.",
      "position": 1,
      "objective": "Explaining the relevance and urgency of the current situation",
      "structure": "The Context (Trends) -> The Trigger Event -> The Window of Opportunity",
      "confidence": 0.5,
      "description": "Create temporal urgency by proving that the window of opportunity is opening or closing"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}