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SAS Group profits improve in 3QFY2013; expects full-year EBIT margin of +3%, positive PBT

4-Sep-2013 5:11 PM

SAS Group revenue stable – financial highlights for three months ended 31-Jul-2013:

  • Revenue: SEK11,593 million (EUR1343 million), -0.4% year-on-year;
  • Costs:
    • Fuel: SEK2354 million (EUR273 million), -13.5%;
    • Labour: SEK2943 million (EUR341 million), -7.9%;
  • Operating profit: SEK1345 million (EUR156 million), +28.8%;
    • Scandinavian Airlines: SEK1319 million (EUR153 million), +106%;
    • Wideroe: SEK52 million (EUR6 million), -35.0%;
  • Net profit: SEK844 million (EUR98 million), +58.1%;
  • Passenger numbers: 7.6 million, +1.0%;
    • Scandinavian Airlines: 6.9 million, +1.2%;
    • Wideroe: 715,000, -0.7%;
  • Load factor: 78.8%, -1.6 ppt;
    • Scandinavian Airlines: 79.5%, -1.6 ppt;
    • Wideroe: 60.8%, -2.0 ppts;
  • Yield:
    • Scandinavian Airlines (currency adjusted): SEK0.94 (EUR 10.9 cents), -0.6%;
    • Wideroe: NOK2.91 (EUR 37.7 cents), +7.4%;
  • Total unit cost:
    • Scandinavian Airlines (currency adjusted): SEK0.7 (EUR 8.1 cents), -9.0%;
    • Wideroe: NOK1.71 (EUR 22.1 cents), +4.9%;
  • Total assets: SEK36,086 million (EUR4180 million);
  • Cash and cash equivalents: SEK3026 million (EUR350 million);
  • Total liabilities: SEK25,204 million (EUR2919 million). [more - original PR]

*Based on the average conversion rate at EUR1 = SEK8.6339

*Based on the average conversion rate at EUR1 = NOK7.728

SAS Group: “The third quarter strengthened SAS financially and further improvement of the financial position is expected in the last quarter. Provided that no significant unforeseen event occurs in our business environment, the SAS Group will achieve an EBIT margin in excess of 3% and positive income before tax, EBT, for the full year 2012/2013,” Rickard Gustafson, President and CEO. Source: Company statement, 04-Sep-2013.