SAS Group Interim Report January-September 2004

Interim Report January-September 2004 Positive third-quarter earnings * Operating revenue for the nine-month period amounted to MSEK 43,133 (43,930), a decrease of 1.8%. Operating revenue for the third quarter amounted to MSEK 15,423 (14,920), an increase of 3.4%. For comparable units, operating revenue for the nine-month period rose 1.5% or MSEK 639. * Traffic growth was good but slightly weaker in the third quarter. The SAS Group's total passenger traffic (RPK) increased by 9.1% for the whole period and by 5.8% for the third quarter. * Income before depreciation and leasing costs for aircraft (EBITDAR) amounted to MSEK 3,202 (2,947) in January-September. EBITDAR for the third quarter was MSEK 1,753 (1,737). * Income before capital gains and nonrecurring items improved by MSEK 337 compared with 2003 and amounted to MSEK 1,469 (-1,806) for the nine-month period. The result for the third quarter was positive at MSEK 153 (116). * Income after financial items amounted to MSEK 1,526 (-1,225), and to MSEK 57 (564) for the third quarter. In 2003 the third quarter result included capital gains of MSEK 559. * Income after tax amounted to MSEK 1,236 (-834), and MSEK 68 (699) for the third quarter. * CFROI for the 12-month period October 2003 - September 2004 was 8% (7%). * Earnings per share for the SAS Group for the nine-month period amounted to SEK -7.51 (-5.07). Equity per share amounted to SEK 72.60 (83.88). * Income after financial items for the Group's largest unitsfor the third quarter amounted to MSEK 353 (-178) for Scandinavian Airlines, MSEK 280 (238) for Spanair and MSEK -36 (120) for Braathens. * Currency-adjusted unit costfor Scandinavian Airlines decreased by 12% in the period January-September and by 7% for the third quarter. Adjusted for increased jet fuel prices, the unit cost decreased by 12% in the third quarter. Since the beginning of 2003 unit cost (adjusted for currency effects and higher jet fuel costs) has decreased by 26%. * The SAS Group's Board and Management expect negative earnings before tax and nonrecurring items for the full-year 2004. 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. An updated financial calendar is available from: www.sasgroup.net Investor Relations SAS Group: VP Investor Relations 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/2004/11/02/20041101BIT00190/wkr0001.pdf The full report