STOCKHOLM, Sweden, May 13, 2003 (PRIMEZONE) -- SAS (Other OTC:SASDF)
First quarter in brief:
-- Operating revenue for the first quarter amounted to MSEK
13,710 (13,775), a decrease of 0.5%. For comparable units, and
adjusted for currency effects, operating revenue for the period
decreased by 4.5% or MSEK 616.
-- Operating revenue for Scandinavian Airlines amounted to
MSEK 7,434 (8,576). Adjusted for currency effects, operating
revenue fell 11.2%.
-- Income before depreciation and leasing costs for aircraft
(EBITDAR) for the quarter was MSEK -398 (584).
-- Income before capital gains for the first quarter was MSEK
-1,939 (-1,313). Excluding costs for phasing out overcapacity,
income before capital gains was approximately MSEK -1,739
(-1,313).
-- Income before tax amounted to MSEK -1,876 (-1,446).
-- CFROI for the 12-month period April 2002-March 2003 was 11%
(6%).
-- Earnings per share for the period January-March amounted to
SEK -9.72 (-8.17) for the SAS Group and equity per share was SEK
81.23 (83.80).
-- A decision has been made for additional cost reductions
amounting to MSEK 8,000, primarily within Scandinavian Airlines,
and for a further MSEK 1,000 within Subsidiary & Affiliated
Airlines. The full effect will be achieved by 2005.
-- In view of the uncertainty surrounding market development,
under present conditions the SAS Group, in line with what was
presented on February 12, 2003, is not issuing a detailed
assessment of earnings for the full year 2003.
Financial calendar Interim Report 2, January-June 2003 August 11, 2003 Interim Report 3, January-September 2003 November 11, 2003 Year-end report 2003 February 2004 Annual Report and Environmental Report 2003 March 2004
All reports are available in English, Danish, Norwegian 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 are also available on the Internet: www.sasgroup.net
The SAS Group's monthly traffic and capacity statistics are published on the sixth working day of each month.
Investor Relations SAS Group: Sture Stoelen +46 8 797 14 51 e-mail: investor.relations@sas.se
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