SAS Group reports widening loss in 1QFY2015

SAS Group revenue up 6% - financial highlights for three months ended 31-Jan-2015:

• Revenue: SEK8371 million (EUR894.0 million), +6.4% year-on-year;
• Total operating costs: SEK9028 million (EUR964.1 million), +16.7%;
• • Labour: SEK2478 million (EUR264.6 million), +71.4%;
  • Fuel: SEK2023 million (EUR216.0 million), +10.5%;
• Operating profit (loss): (SEK657 million) (EUR70.2 million), compared to a profit of SEK132 million (EUR14.1 million) in p-c-p;
• Net profit (loss): (SEK638 million) (EUR68.1 million), compared to a loss of SEK115 million (EUR12.3 million) in p-c-p;
• Passenger numbers: 5.8 million, +3.1%;
• Passenger load factor: 70.1%, +1.9%;
• Scheduled passenger yield: SEK1.07 (EUR 11.4 cents), +2.7%;
• Scheduled revenue per ASK: SEK0.74 (EUR 7.9 cents), +6.7%;
• Scheduled cost per ASK: SEK0.91 (EUR 9.7 cents), +1.7%;
• Total assets: SEK30,701 million (EUR3279 million);
• Cash and cash equivalents: SEK7108 million (EUR759.1 million);
• Total liabilities: SEK26,276 million (EUR2806 million). [more - original PR]

*Based on the average conversion rate at EUR1 = SEK9.364

SAS Group: "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." Source: Company statement, 05-Mar-2015.