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11-Nov-2010 1:22 PM

SAS Group revenue down 3.5% for 3Q2010

SAS Group revenue down 3.5% - financial highlights for the three months ended 30-Sep-2010:

  • Revenue*: EUR1152 million, -3.5% year-on-year;
  • Operating costs: EUR1115 million,
    • Labour: EUR344.2 million, -20.1%;
    • Scandinavian Airlines: EUR958.9 million, -5.3%;
      • Labour: EUR295.8 million, -18.1%;
  • Fuel: EUR176.4 million, -15.9%;
  • EBITDAR: EUR37.6 million, -57.7%;
  • Operating profit (loss): (EUR52.6 million), compared with a profit of EUR27.9 million in p-c-p;
  • Profit (los) before tax: (EUR110.4 million), compared with a profit of EUR12.3 million in p-c-p;
  • Net profit (loss): (EUR113.3 million), compared with a profit of EUR16.4 million in p-c-p;
  • Passenger numbers: 6.7 million, +6.6%;
  • Load factor: 78.9%, +2.2 ppts;
  • Yield**:
  • Revenue per ASK**:
  • Cost per ASK**:
  • Total assets: EUR4676 million, +2.1% when compared with the period ended 31-Dec-2009;
  • Cash and cash equivalents: EUR585.0 million, +29.6% when compared with the period ended 31-Dec-2009;
  • Total liabilities: EUR3163 million, -5.7% when compared with the period ended 31-Dec-2009. [more]

*Based on the conversion rate at EUR1 = SEK9.27637
**Currency adjusted

SAS Group: "Core SAS is proceeding according to plan and most targets have been achieved. The cost savings programme, which has been 81% implemented, had a positive earnings effect of approximately SEK4.9 billion at September 30, 2010, and the remaining earnings impact is expected to be about SEK2.9 billion. Restructuring costs for the implementation of the Core SAS strategy in 2010 and 2011 are expected to total approximately SEK1 billion, of which about SEK 700-800 in 2010," John Dueholm, Acting President and CEO. Source: SAS Group, 10-Nov-2010.

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