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SAS Group operating loss narrows in Apr-2013, maintains full year profit guidance

13-Jun-2013 3:04 PM

SAS Group revenue down 1% – financial highlights for three months ended 30-Apr-2013:

  • Revenue: SEK9933 million (EUR1177 million), -1.4% year-on-year;
  • Costs: SEK9677 million (EUR1147 million), -7.8%;
  • Operating profit (loss): (SEK86 million) (EUR10 million), compared to a loss of SEK482 million (EUR57 million) in p-c-p;
  • EBIT (loss) including nonrecurring items:
    • Scandinavian Airlines: SEK224 million (EUR27 million), compared to a loss of SEK465 million (EUR55 million) in p-c-p;
    • Wideroe: SEK40 million (EUR5 million), -7.0%;
  • Net profit (loss): (SEK388 million) (EUR46 million), compared to a loss of SEK429 million (EUR51 million) in p-c-p;
  • Passenger numbers: 6.8 million, -0.6%;
    • Scandinavian Airlines: 6.1 million, -1.6%;
    • Wideroe: 700,000, +8.1%;
  • Load factor: 69.5%, -2.3 ppts;
    • Scandinavian Airlines: 70.1%, -2.3 ppt;s
    • Wideroe: 56.2%, -0.6 ppt;
  • Yield (currency adjusted):
    • Scandinavian Airlines: SEK1.05 (EUR 12.44 cents), +2.7%;
    • Wideroe: NOK3.31 (EUR 44.21 cents), +3.7%;
  • Total assets: SEK36,764 million (EUR4356 million), stable when compared to period ended 31-Oct-2012;
  • Cash and cash equivalents: SEK3000 million (EUR355 million), +7.6% when compared to period ended 31-Oct-2012;
  • Total liabilities: SEK26,748 million (EUR3170 million), +4.5% when compared to period ended 31-Oct-2012. [more - original PR]

*Based on the average conversion rate at EUR1 = SEK8.4391

SAS Group: "We must state that the earnings level is not yet satisfactory but completely in line with our expectations and our plan. Our focus is directed to fully completing the restructuring measures and the forecast of achieving positive income for the full-year remains firmly in place," Rickard Gustafson, President and CEO. Source: Company statement, 12-Jun-2013.