19-Aug-2010 1:35 PM
SAS Group revenue down 18.4% for 2Q2010
SAS Group revenue down 18.4% - financial highlights:
- Three months ended 30-Jun-2010:
- Revenue: EUR1,058 million, -18.4% year-on-year;
- Scandinavian Airlines: EUR925.0 million, -18.7%;
- Blue1: EUR48.7 million, -10.0%;
- Wideroe: EUR89.6 million, -3.4%;
- Operating profit (loss): (EUR37.0 million), compared with a loss of EUR99.9 million in p-c-p;
- Scandinavian Airlines: (EUR7.8 million), compared with a loss of EUR99.8 million in p-c-p;
- Net profit (loss): (EUR53.2 million), compared with a loss of EUR111.0 million in p-c-p;
- Operating cash flow: EUR53.3 million, compared with a negative cash flow of EUR37.4 million in p-c-p;
- Passenger numbers: 6.3 million, -8.3%;
- Scandinavian Airlines: 5.4 million, -8.6%;
- Wideroe: 485,000, -8.7%;
- Blue1: 396,000, -3.4%;
- Load factor: 75.4%, +1.8 ppt;
- Scandinavian Airlines: 76.2%, +2.0 ppts;
- Wideroe: 59.7%, -4.5 ppts;
- Blue1: 71.3%, +2.7 ppts;
- Yield:
- Scandinavian Airlines: -6.6%;
- Wideroe: +3.0%;
- Traffic revenue per ASK**:
- Scandinavian Airlines: -5.6%;
- Total cost per ASK**:
- Scandinavian Airlines: -5.5%;
- Revenue: EUR1,058 million, -18.4% year-on-year;
- Six months ended 30-Jun-2010:
- Revenue: EUR2,065 million, -17.2%;
- Scandinavian Airlines: EUR1,805 million, -18.1%;
- Blue1: EUR92.3 million, -10.8%;
- Wideroe: EUR177.5 million, -0.4%;
- Operating profit (loss): (EUR117.8 million), compared with a loss of EUR204.2 million in p-c-p;
- Scandinavian Airlines: (EUR46.4 million), compared with a loss of EUR179.0 million in p-c-p;
- Net profit (loss): (EUR128.7 million), compared with a loss of EUR190.3 million in p-c-p;
- Operating cash flow: EUR56.5 million, compared with a negative cash flow of EUR64.0 million in p-c-p;
- Total assets: EUR4,938 million, +4.6%;
- Net debt: EUR280.1 million, n/a;
- Passenger numbers: 12.0 million, -4.6%;
- Scandinavian Airlines: 10.3 million, -4.8%;
- Wideroe: 967,000, -4.0%;
- Blue1: 736,000, -2.1%;
- Load factor: 72.3%, +4.0 ppts;
- Scandinavian Airlines: 73.1%, +4.3 ppts;
- Wideroe: 58.0%, -0.9 ppt;
- Blue1: 67.1%, +3.6 ppts;
- Yield:
- Scandinavian Airlines: -8.8%;
- Wideroe: -1.5%;
- Blue1: -8.8%;
- Traffic revenue per ASK**:
- Scandinavian Airlines: -3.8%;
- Total cost per ASK**:
- Scandinavian Airlines: -6.7%. [more]
- Revenue: EUR2,065 million, -17.2%;
*Based on the conversion rate at EUR1 = SEK9.43224
**Currency adjusted
SAS Group: "Despite a sharp fall in the GDP of the Nordic countries in 2009, the Nordic economies appear to be emerging relatively quickly from the deepest financial crisis since the 1930s. Forecasts indicate that 2010 will be significantly stronger than 2009. However, uncertainty remains as to the strength of the global economic recovery," Mats Jansson, President and CEO. Source: SAS Group, 18-Aug-2010.