sail4fun
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SAS Group Interim Report January-September 2006
Favorable cabin factor and stronger yield result in improved earnings for third
quarter
· Operating revenue for the nine-month period amounted to MSEK 50,418 (45,600),
an increase of 10.6%. For the third quarter, operating revenue amounted to MSEK
18,035 (16,567), an increase of 8.9%.
· Number of passengers rose by 7.2% to 29 million during the nine-month period
and by 4.4% to 10.1 million during the third quarter, while the cabin factor
increased by 1.1 percentage points to 76.3%.
· Nonrecurring items totaling MSEK 442 (180) were charged to results, of which
MSEK 82 (102) pertains to the third quarter.
· Income before capital gains and nonrecurring items amounted to MSEK 544 (-114)
for the period, an improvement of MSEK 658. Income for the third quarter totaled
MSEK 969 (619).
· Net income for the nine-month period amounted to MSEK 93 (57) and MSEK 604
(529) for the third quarter.
· CFROI for the twelve-month period October 2005-September 2006 was 13% (12%).
· Earnings per share for the period amounted to SEK 0.09 (0.18) and SEK 3.40
(3.03) for the third quarter. Equity per share amounted to SEK 69.51 (74.36).
· Currency-adjusted total unit cost, adjusted for higher fuel prices, declined
by 2.1% for SAS Scandinavian Airlines during the period July-September 2006. The
increase for the period January-September was 0.5%. During the period
January-September, fuel costs, adjusted for currency and volume, increased by
SEK 2 billion.
· Cost savings corresponding to SEK 2.5 billion are currently being implemented.
To date, 68% of these savings have been put into effect.
· A stock-exchange listing of the Rezidor Hotel Group is being prepared and is
expected to be completed before the end of 2006, with a reservation for market
conditions and final approval by the SAS Board of Directors.
· The Board of Directors of the SAS Group appointed Mats Jansson as new
President and CEO. Mats Jansson will assume this position on January 1, 2007.
· "The earnings trend is positive, but the strong economy is a significant
contributory factor. The result is far from the Group's return requirement and,
accordingly, it is necessary to continue focusing full energy on cost-cutting
measures," says Gunnar Reitan, Acting President and CEO.
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 also be accessed and ordered via the Internet: www.sasgroup.net
The SAS Group's monthly traffic and production data are normally published on
the fifth business day of the following month. A financial calendar can be found
at: www.sasgroup.net
Direct questions to: SAS Group Investor Relations: Vice President 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://wpy.waymaker.net/client/waymaker1/WOLReleaseFile.aspx?id=316234&fn=wkr0001.pdf The full report
Favorable cabin factor and stronger yield result in improved earnings for third
quarter
· Operating revenue for the nine-month period amounted to MSEK 50,418 (45,600),
an increase of 10.6%. For the third quarter, operating revenue amounted to MSEK
18,035 (16,567), an increase of 8.9%.
· Number of passengers rose by 7.2% to 29 million during the nine-month period
and by 4.4% to 10.1 million during the third quarter, while the cabin factor
increased by 1.1 percentage points to 76.3%.
· Nonrecurring items totaling MSEK 442 (180) were charged to results, of which
MSEK 82 (102) pertains to the third quarter.
· Income before capital gains and nonrecurring items amounted to MSEK 544 (-114)
for the period, an improvement of MSEK 658. Income for the third quarter totaled
MSEK 969 (619).
· Net income for the nine-month period amounted to MSEK 93 (57) and MSEK 604
(529) for the third quarter.
· CFROI for the twelve-month period October 2005-September 2006 was 13% (12%).
· Earnings per share for the period amounted to SEK 0.09 (0.18) and SEK 3.40
(3.03) for the third quarter. Equity per share amounted to SEK 69.51 (74.36).
· Currency-adjusted total unit cost, adjusted for higher fuel prices, declined
by 2.1% for SAS Scandinavian Airlines during the period July-September 2006. The
increase for the period January-September was 0.5%. During the period
January-September, fuel costs, adjusted for currency and volume, increased by
SEK 2 billion.
· Cost savings corresponding to SEK 2.5 billion are currently being implemented.
To date, 68% of these savings have been put into effect.
· A stock-exchange listing of the Rezidor Hotel Group is being prepared and is
expected to be completed before the end of 2006, with a reservation for market
conditions and final approval by the SAS Board of Directors.
· The Board of Directors of the SAS Group appointed Mats Jansson as new
President and CEO. Mats Jansson will assume this position on January 1, 2007.
· "The earnings trend is positive, but the strong economy is a significant
contributory factor. The result is far from the Group's return requirement and,
accordingly, it is necessary to continue focusing full energy on cost-cutting
measures," says Gunnar Reitan, Acting President and CEO.
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 also be accessed and ordered via the Internet: www.sasgroup.net
The SAS Group's monthly traffic and production data are normally published on
the fifth business day of the following month. A financial calendar can be found
at: www.sasgroup.net
Direct questions to: SAS Group Investor Relations: Vice President 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://wpy.waymaker.net/client/waymaker1/WOLReleaseFile.aspx?id=316234&fn=wkr0001.pdf The full report
