9-Nov-2011 1:41 PM

SAS Group reports operating profit in 3Q2011

SAS Group revenue down 2% – financial highlights for three months ended 30-Sep-2011:

  • Revenue: EUR1175 million, -1.5% year-on-year;
  • Operating profit: EUR55.3 million, compared to a loss of EUR54.0 million in p-c-p;
  • EBIT** (loss):
    • Scandinavian Airlines: EUR62.5 million, -16.3%;
    • Wideroe: EUR9.6 million, +74%;
    • Blue1: (EUR13.2 million), compared to a loss of EUR4.9 million in p-c-p;
  • Passenger numbers: 6.9 million, +4.1%;
    • Scandinavian Airlines: 5.9 million, +3.0%;
    • Wideroe: 649,000, +16.2%;
    • Blue1: 409,000, +3.7%;
  • Load factor: 78.9%, stable;
    • Scandinavian Airlines: 80.3%, +0.4 ppt;
    • Wideroe: 63.3%, +0.7 ppt;
    • Blue1: 67.8%, -5.3 ppts;
  • Revenue per ASK:
    • Scandinavian Airlines^: -2.1%;
  • Yield:
    • Scandinavian Airlines^: -2.8%;
    • Wideroe: -1.0%;
    • Blue1: +6.5%;
  • Cost per ASK:
    • Scandinavian Airlines^: +5.9%;
    • Wideroe: -3.7%;
    • Blue1: +22.6%;
  • Net profit: EUR23.7 million, compared to a loss of EUR116.3 million in p-c-p;
  • Total asset: EUR4643 million, +0.3% when compared to period ended 31-Dec-2010;
  • Cash and cash equivalents: EUR566.8 million, +1.6% when compared to period ended 31-Dec-2010;
  • Total liabilities: EUR3027 million, -0.1% when compared to period ended 31-Dec-2010. [more – original PR]

*Based on the conversion rate at EUR1 = SEK9.03728
**Before nonrecurring items
^Currency adjusted

SAS Group: “Increased pressure on yield and RASK is expected in the fourth quarter due to the uncertainty related to global economic developments. Jet-fuel prices remain at a high level of about USD1000 per MT. Uncertainty surrounding the global economy, jet-fuel prices and additional capacity in the market result in greater challenges.” Company statement. Source: SAS Group, 08-Nov-2011.

Want More News Like This?

CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More