SAS Group Interim Report January-March 2004
SAS Group Interim Report January-March 2004 First quarter of 2004 in brief · Operating revenue for the first quarter amounted to MSEK 12,567 (13,710), a decrease of 8.3%. For comparable units and adjusted for currency effects, operating revenue for the period fell by 2.3% or MSEK 312. · Income before depreciation and leasing costs for aircraft (EBITDAR) amounted to MSEK -44 (-398) for the period. · Income before capital gains and nonrecurring items improved by MSEK 278 and amounted to MSEK -1,631 (-1,909) for the quarter. Adjusted for currency effects, income improved by MSEK 388. · Income after financial items amounted to MSEK -1,583 (-1,876). · Income after tax amounted to MSEK -1,402 (-1,599). · CFROI for the 12-month period April 2003-March 2004 was 7% (11%). · Earnings per share for the SAS Group in the first quarter amounted to SEK -8.52 (-9.72). Equity per share amounted to SEK 72.03 (81.23). · By the end of March 2004 activities had been completed that corresponded to the financial impact of 66% of Turnaround 2005 compared with the planned 60%. The earnings impact was SEK 1.5 billion for the quarter. Collective agreement negotiations relating to salaries and compensation which were completed in March provide cost reductions corresponding to SEK 1.5 billion. · Currency-adjusted unit cost for Scandinavian Airlines decreased by 15% in the first quarter. · The Board and Management's forecast for the full-year 2004 is unchanged. All reports are available in English and Swedish and can be ordered from SAS, SE-195 87 Stockholm, telephone +46 8 797 00 00, fax +46 8 797 51 10. The reports can be accessed and ordered via the Internet: www.sasgroup.net The SAS Group's monthly traffic and capacity statistics are normally published on the fifth working day of each month. A financial calendar is available at www.sasgroup.net Investor Relations SAS Group: Sture Stølen +46 8 797 14 51, e-mail: investor.relations@sas.se ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/05/04/20040503BIT00900/wkr0001.doc The full report http://www.waymaker.net/bitonline/2004/05/04/20040503BIT00900/wkr0002.pdf The full report