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FRANKFURT: March 15, 2018. The Lufthansa Cargo Group (LCG) has reported a 21.1 percent increase in revenue to €2.52 billion for 2017 and an adjusted EBIT of €242 million.

The airline group recorded its best-ever result of €35.6 billion in revenue and an EBIT of €2.97 billion, a rise of 69.7 percent year-on-year. Group net income rose 33.1 percent to €2.36 billion for the period.

\Lufthansa Cargo’s total capacity, that includes its own freighters, its Aerologic joint venture, and belly space on passenger aircraft operated by Lufthansa German Airlines, Austrian Airlines and Eurowings’ long-haul flights, each carried about half of its total cargo uplift last year.

Lufthansa pilotsFreighter capacity rose 3.8 percent and belly capacity expanded 1.1 percent as overall sales volume increased 6.9 percent during the period.

Yields increased by 12.7 percent and traffic revenue rose by 19.5 per cent due to increased cargo tonnage and much higher yields in the Express business segment says the air cargo carrier.

Capital expenditure increased 34.5 percent to €39 million in 2017 from an equity investment in ULD management company Jettainer.

The company says its future goal is to digitalize relationships with all stakeholders in the supply chain - from bookings to deliveries - in order to make its business more customer-friendly. As a first step in 2017 it invested in Seattle-based Fleet Logistics that provides a neutral online marketplace for brokering international Ocean and airfreight services, including payment processing.

In a bid to cost costs further this year, LCG says it is closing its unprofitable Lufthansa Cargo Service Center and further “optimizing” its current fleet of 12 MD-11 freighters.

The Lufthansa Group invested some €3 billion in 2017 that included €900 million in Air Berlin aircraft. “These higher investments also reflect the increased size of our group. But investments relative to revenue remain on one level with the world’s most successful airlines,” said CFO Ulrik Svensson.

“Important is that the return on capital continues to increase. In 2017, our adjusted [Return on Captail Employed] ROCE after tax improved by 4.6 percentage points to 11.6 percent,” he added.

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