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SAS Group reports operating profit in 3Q2012, pax numbers up 5%

13-Nov-2012 3:15 PM

SAS Group revenue up 4.5% – financial highlights for the three months ended Sep-2012:

  • Revenue: SEK11,096 million (EUR1315 million), +4.5% year-on-year;
  • Operating profit: SEK863 million (EUR102 million), +72.6%;
  • Net profit: SEK434 million (EUR51 million), +102.8%;
  • Total asset: SEK37,328 million (EUR4424 million);
  • Passenger numbers: 7.2 million, +4.5%;
  • Passenger load factor: 80.3%, +1.5 ppts;
  • Yield:
    • Scandinavian Airlines^: +1.8%;
    • Wideroe: +4.6%;
  • RASK:

*Based on the average conversion rate at EUR1 = SEK8.4377 for the period
**SAS Cargo and Blue1 units are integrated with Scandinavian Airlines
^Currency adjusted

SAS Group: “In the report for the second quarter of 2012, it was announced that SAS would not present a profitability forecast for full-year 2012 due to the uncertain economic trend, jetfuel prices, exchange rates and intense competitive pressure. In the context of these uncertainties and to address SAS’s structural and financial limitations, the 4XNG plan will be implemented yielding an annual positive earnings effect of approximately SEK3 billion, of which SEK1.5 billion is anticipated in the 2012/2013 fiscal year.” Source: Company statement, 12-Nov-2012.