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    Johannes Braun

    Senior Equity Research Analyst at Stifel Financial Corp.

    Johannes Braun is a Senior Equity Research Analyst at Stifel Financial Corp., specializing in equity research within the industrials and manufacturing sectors. Since joining Stifel in January 2017, he has covered companies such as GEA Group and KION Group, and is recognized for his detailed analysis and sector insights. Braun has developed a track record of high-quality research contributions, though specific performance metrics or public rankings are not widely disclosed. He holds relevant securities licenses and maintains FINRA registration, underlining his professional credentials in financial analysis and equity markets.

    Johannes Braun's questions to DEUTSCHE LUFTHANSA A G /FI (DLAKY) leadership

    Johannes Braun's questions to DEUTSCHE LUFTHANSA A G /FI (DLAKY) leadership • Q3 2024

    Question

    Johannes Braun questioned the slight downgrade in the full-year RASK guidance to a mid-single-digit decline, noting it seemed counterintuitive given stabilizing yields and reduced capacity growth.

    Answer

    CFO Till Streichert explained that the guidance reflects a difficult year-over-year comparison for the fourth quarter. He pointed out that in the prior year's Q4, 'other income' was inflated by one-off items like the release of COVID-related provisions and OEM compensations, which makes the RASK comparison for the upcoming Q4 appear weaker than the underlying yield trend suggests.

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    Johannes Braun's questions to DEUTSCHE LUFTHANSA A G /FI (DLAKY) leadership • Q3 2024

    Question

    Johannes Braun of Stifel questioned the rationale for downgrading the full-year RASK guidance to a mid-single-digit decline, noting it seemed counterintuitive given stabilizing yields and slower capacity growth.

    Answer

    CFO Till Streichert explained that the year-over-year comparison for Q4 is skewed because the prior-year period (Q4 2023) included significant one-off other income items, such as releases of COVID-related provisions. This inflated the prior-year base, making the RASK decline in Q4 2024 appear larger than the underlying yield trend would suggest. CEO Carsten Spohr confirmed that yield development will be better than RASK development in Q4.

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    Johannes Braun's questions to RYANAIR HOLDINGS (RYAAY) leadership

    Johannes Braun's questions to RYANAIR HOLDINGS (RYAAY) leadership • Q1 2025

    Question

    Johannes Braun of Stifel noted the strong Q1 free cash flow and high cash inflow from ticket prepayments, asking how this reconciles with the warning of significantly lower summer yields.

    Answer

    CFO Neil Sorahan explained that the strong cash flow is a direct result of high traffic volume growth. Even with lower average fares, the sheer number of bookings being processed—over half a million more—ensures a strong and steady inflow of cash from customers.

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    Johannes Braun's questions to AIR FRANCE-KLM /FI (AFLYY) leadership

    Johannes Braun's questions to AIR FRANCE-KLM /FI (AFLYY) leadership • Q1 2024

    Question

    Johannes Braun from Stifel asked for background on the €610 million pension funding payment in Q1 and inquired about yield trends for the peak summer season, particularly in light of the Olympic Games.

    Answer

    CFO Steven Zaat clarified that the €610 million payment was a one-off settlement of pension premiums deferred during the COVID crisis. He noted that while April yields were strong, it was too early to comment on Q3 yields due to the short booking window for the summer season.

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