Condor Flugdienst GmbH
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Condor Flugdienst GmbH - overview
Established
1955
Location
-, -, Germany
Primary Industry
Transportation Services
About
Founded in 1955 and based in Berlin, Germany, Condor Flugdienst GmbH operates as a German leisure airline and operates scheduled flights to leisure destinations. The company was founded by Norddeutscher Lloyd, Hamburg-Amerika-Linie, Deutsche Lufthansa and Deutsche Bundesbahn. In May 2021, Attestor Capital acquired a 51% majority stake in Condor Flugdienst GmbH for EUR 450 million. As of 2021, the company’s CEO is Ralf Teckentrup and it employs around 4,050 employees (including its maintenance wing).
Condor provides air travel services to its customers that can be accessed through its website and mobile application. Condor helps customers to travel from eight German airports where it operates to around 90 destinations in Europe, Africa, and America. As of 2021, the company has around 50 aircraft under its portfolio that are regularly maintained and serviced by its subsidiary Condor Technik GmbH (founded in 2008 as a maintenance company). In the 2018/19 financial year, Condor Flugdienst GmbH generated an operating profit of around EUR 57 million and sales of around EUR 1.
7 billion. The May 2021 transaction executed by Attestor Capital will enable the company to rapidly improve its flight operations after the Corona pandemic and will help them to implement the long-term development of its operations along with preserving the jobs at the airline and maintenance wing.
Current Investors
Attestor
Primary Industry
Transportation Services
Sub Industries
Airlines & Air Travel
Website
www.condor.com
Verticals
Mobile Apps
Company Stage
Mature - Buyout
Total Amount Raised
Subscriber access only
Condor Flugdienst GmbH - timeline of key events
Condor Flugdienst GmbH - financials
| Fiscal Year Ended | Sep 30, 2008 | Sep 30, 2009 | Sep 30, 2010 | Sep 30, 2011 | Sep 30, 2012 | Sep 30, 2013 | Sep 30, 2014 | Sep 30, 2015 | Sep 30, 2016 | Sep 30, 2017 | Sep 30, 2018 | Sep 30, 2019 | Nov 30, 2020 | Nov 30, 2021 | Nov 30, 2022 | Sep 30, 2023 | Sep 30, 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 1,115,589,000 | 1,177,196,000 | 1,110,268,000 | 1,248,978,000 | 1,430,269,000 | 1,575,469,000 | 1,558,800,000 | 1,660,034,000 | 1,533,172,000 | - | - | 1,767,723,000 | 588,866,000 | 803,210,000 | - | - | - |
| % Revenue Growth (YoY) | - | 5.5% | (5.7%) | 12.5% | 14.5% | 10.2% | (1.1%) | 6.5% | (7.6%) | - | - | - | - | - | - | - | - |
| EBITDA (USD) | (20,461,000) | 4,815,000 | 64,519,000 | 32,551,000 | 20,904,000 | 65,832,000 | (8,398,000) | 69,651,000 | (48,644,000) | - | - | (2,887,837,000) | 6,276,190,000 | 7,929,000 | - | - | - |
| Operating Income (USD) | (25,195,000) | (2,930,000) | (26,610,000) | (12,068,000) | (39,824,000) | 29,583,000 | (37,518,000) | 36,905,000 | (85,093,000) | - | - | (2,936,346,000) | 6,226,135,000 | (31,101,000) | - | - | - |
| Operating Margin | (2.3%) | (0.2%) | (2.4%) | (1.0%) | (2.8%) | 1.9% | (2.4%) | 2.2% | (5.6%) | - | - | (166.1%) | 1057.3% | (3.9%) | - | - | - |
| % EBITDA Margin | (1.8%) | 0.4% | 5.8% | 2.6% | 1.5% | 4.2% | (0.5%) | 4.2% | (3.2%) | - | - | (163.4%) | 1065.8% | 1.0% | - | - | - |
| NET Income (USD) | (3,303,000) | (998,000) | (49,887,000) | (7,734,000) | (28,281,000) | 15,121,000 | (47,450,000) | 30,527,000 | (89,363,000) | - | - | (6,801,423,000) | 6,189,547,000 | (63,239,000) | - | - | - |
| % Net Margin | (0.3%) | (0.1%) | (4.5%) | (0.6%) | (2.0%) | 1.0% | (3.0%) | 1.8% | (5.8%) | - | - | (384.8%) | 1051.1% | (7.9%) | - | - | - |
Condor Flugdienst GmbH - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Buyout | Completed | Condor Flugdienst GmbH | - | ||||||||
| Trade Sale | Completed | Air Berlin GmbH & Co KG Luftverkehrs | - |
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Condor Flugdienst GmbH - employee data
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