Luxembourg, 27 April 2022 – The Cargolux Group, (Cargolux), achieved its best year on record in 2021:
- Revenues of US$ 4.4 billion, an increase of 40% over 2020.
- Earnings Before Interest and Tax (EBIT) of US$ 1.72 billion, an increase of 73 % over 2020.
- A Profit Before Tax of US$ 1.7 billion, an increase of 94% over 2020.
- A Profit After Tax of US$ 1.3 billion, an increase of 68% over 2020.
The increase in financial performance was driven by both an increase in tonnage and higher yields. This allowed the further strengthening of the group’s Balance Sheet especially in the building up of its cash reserves.
Financials
Operational KPIs
| 2021 | 2021/2020 | |
| Block Hours | 152,785 | +8.7% |
| Cycles | 25,322 | +6.5% |
| Aircraft utilization (block hours/day) | 14:17 | +3.8% |
| Load Factor (FTK/ATK) | 72.8% | +4.1ppt |
Profit & Loss and Balance Sheet KPIs (US$ m)
| US$ MILLION | 2021 | 2020 |
| Total Revenues | 4,429 | 3,171 |
| EBIT | 1,718 | 991 |
| Profit before Tax | 1,688 | 869 |
| Net Profit | 1,295 | 769 |