{ "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": 4, "pageCount": 39, "prevPage": 3, "nextPage": 5, "slideType": "executive_summary", "function": "summarize", "density": "overcrowded", "nDataPoints": 8, "notes": "Interim management report page detailing tax changes, bond issuance, leadership changes, labor relations, and long-term financial targets.", "elementsJson": [ "paragraph" ], "metadataConfidence": 0.95, "imagePath": null, "slideHref": "/slides/019dd923-5eff-723e-9be7-6b44a71370b8/4", "deckHref": "/decks/019dd923-5eff-723e-9be7-6b44a71370b8", "deckJsonHref": "/decks/019dd923-5eff-723e-9be7-6b44a71370b8.json", "deckAnchorHref": "/decks/019dd923-5eff-723e-9be7-6b44a71370b8#slide-4", "components": [ { "bbox": null, "kind": "metric", "text": "Adjusted EBIT margin: 8-10%", "attrs": null, "subkind": "primary", "toolName": "Quantification", "toolSlug": "quantification", "confidence": null, "componentId": "019dd952-7323-76ab-8cf2-76477d015bd4", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.22, "w": 0.28, "x": 0.077, "y": 0.38 }, "kind": "paragraph", "text": "Deutsche Lufthansa AG successfully places convertible bond with a total volume of EUR 600m. On 3 September 2025, Deutsche Lufthansa AG successfully placed unsecured and unsubordinated convertible bonds with a total nominal value of EUR 600m. These bonds are issued in denominations of EUR 100,000 and have a fixed-rate annual coupon of 0%. The transaction was oversubscribed several times. Deutsche Lufthansa AG intends to use the proceeds from the placement of its new convertible bonds to finance the buyback of its outstanding convertible bonds and for general business purposes, including the refinancing of its existing liabilities.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "0abd3d95-e922-4ae7-9eab-c7f5c945007a", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.25, "w": 0.56, "x": 0.36, "y": 0.58 }, "kind": "paragraph", "text": "Lufthansa Group sets out strategic orientation and provides details of new medium-term financial targets. At its Capital Markets Day, which took place in Munich on 29 September 2025, the Lufthansa Group set out its strategic orientation and published new medium-term financial targets. It intends to maximise the synergies within the Group by consistently expanding its integrated and networked cooperation model. In addition, transformation programmes and fleet modernisations for the Network Airlines are intended to pave the way to greater profitability. This is intended to deliver attractive long-term yields for shareholders. Moreover, in the period from 2028-2030 the Company aims to realise an Adjusted EBIT margin of between 8 and 10%, a pre-tax Adjusted ROCE (return on capital employed) of between 15 and 20% and Adjusted free cash flow in excess of EUR 2.5bn per year.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "42b9a770-9555-4651-a22a-8e814cf336da", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.28, "w": 0.28, "x": 0.36, "y": 0.147 }, "kind": "paragraph", "text": "Change at the top of Lufthansa's Supervisory Board in the coming year. Johannes Teyssen introduced himself to the members of Deutsche Lufthansa AG's Supervisory Board prior to its meeting on 16 September 2025. On the recommendation of the Nomination Committee, Johannes Teyssen's election to the Supervisory Board is to be proposed to Lufthansa's Annual General Meeting on 12 May 2026. Following his election to the Annual General Meeting, the Supervisory Board will elect him as its Chairman and the successor of Karl-Ludwig Kley. Karl-Ludwig Kley is then set to retire from Deutsche Lufthansa AG's Supervisory Board upon expiry of his mandate following a 13-year term and eight years of service as the Supervisory Board's Chairman.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "82acb77d-e165-424d-9e46-013bce097902", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.42, "w": 0.28, "x": 0.645, "y": 0.147 }, "kind": "paragraph", "text": "It aims to maintain a strong balance sheet as a basis for the realisation of its financial targets. For this purpose, the Lufthansa Group will continue to strive for an investment grade rating from leading rating agencies in the future. To hedge against possible crises, the Lufthansa Group will continue to maintain a conservative minimum liquidity level of between EUR 8 and 10bn. In addition, the Company will adhere to its current dividend policy which envisages the distribution of between 20 and 40% of the Group's net profit to its shareholders. Moreover, the Lufthansa Group reaffirmed its objective of adjusting the Group's organisational and operational structure in order to rearrange cooperation and responsibilities within the Group. It aims to achieve closer and more networked cooperation between Group Functions and airlines to leverage synergies and for greater efficiency. In addition, by 2030 the Company intends to shed a total of around 4,000 administrative positions worldwide.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "adf6a697-f44e-441a-956d-fc85dfd014dc", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.12, "w": 0.28, "x": 0.36, "y": 0.44 }, "kind": "paragraph", "text": "Vereinigung Cockpit strike ballot achieves necessary quorum. In September 2025, the Vereinigung Cockpit pilots' union (VC) suspended negotiations with Deutsche Lufthansa AG and Lufthansa Cargo over transitional retirement benefits, declared that negotiations relating to the occupational pension scheme had failed and held a strike ballot which won the support of a majority of VC members. This meant that strikes were possible at any time.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "f2d88c66-fe2a-4224-a5f8-3f52fc7a2e48", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.28, "x": 0.077, "y": 0.19 }, "kind": "paragraph", "text": "Immediate tax investment programme comes into effect. The German law for an immediate tax investment programme to strengthen Germany as a business location entered into force on 19 July 2025. This includes a gradual reduction in corporation tax rates in Germany. If earnings remain at their current level, in future this will mean lower tax payments in Germany. In this context, capitalised deferred tax assets were reduced by a total of EUR 372m through profit or loss in the reporting period.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "f7bb2d3c-3053-42c2-bae2-020c1d2de975", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.23, "x": 0.077, "y": 0.147 }, "kind": "title", "text": "SIGNIFICANT EVENTS", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "2d54d237-c3d5-4281-949b-47c704181dd5", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [ { "to": 4, "from": 1, "beatId": "3a48fe02-34af-4c11-a3a7-36bfe4152ed0", "arcName": "The Consultant's Gambit", "arcSlug": "consultants-gambit", "beatName": "Situation & Context", "beatSlug": "consultants-gambit-situation-context", "evidence": "The report begins with an overview of the company's situation and significant events.", "position": 0, "confidence": 0.8, "parentBeatName": "Setup", "parentBeatSlug": "setup" } ], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }