SAS Group reports EUR17m operating profit in FY2014

SAS Group revenue down 10% - financial highlights for 12 months ended 30-Oct-2014:

• Revenue: SEK38,006 million (EUR4209 million), -9.9% year-on-year;
• Costs:
• • Labour: SEK9181 million (EUR1017 million), -18.8%;
• Operating profit: SEK153 million (EUR16.9 million), -94.1%;
• Net profit (loss): (SEK719 million) (EUR79.6 million), compared to a profit of SEK1358 million (EUR150.4 million) in p-c-p;
• Passenger numbers: 28.4 million, +6.3%;
• Load factor: 76.6%, +1.1 ppt;
• Passenger revenue per ASK: -5.8%;
• Cost per ASK: -3.9%;
• Total assets: SEK29,325 million (EUR3248 million);
• Cash and cash equivalents: SEK7417 million (EUR821.4 million);
• Total liabilities: SEK24,418 million (EUR2704 million). [more - original PR]

*Based on the average conversion rate at EUR1 = SEK9.0298
**Comparative figures include Widerøe for Nov-2012 to Sep-2013 period

SAS: "SAS is continuing the intensive efforts to strengthen competitiveness. The potential exists for SAS to post a positive EBT before tax and nonrecurring items in the 2014/2015 fiscal year. This is provided that the economy does not weaken, that the trend continues in terms of reduced capacity and lower jet fuel prices, is maintained, that exchange rates are not subject to further deterioration and that no unexpected events occur." Source: Company statement, 18-Dec-2014.