SAS Interim Report November 2016 - April 2017

June 21, 2017 06:00

Expanded structural measures to strengthen profitability

January 2017 – April 2017

Income before tax and nonrecurring items: MSEK -259 (-601)
Income before tax: MSEK -208 (127)
Revenue: MSEK 9,843 (8,916)
EBIT margin: -1.1% (2.7%)
Net income for the period: MSEK -320 (171)
Earnings per common share: SEK -1.23 (0.25)
The outlook for the full year 2016/2017 is retained.

Comments by the President and CEO of SAS:

The quarter trended in line with our expectations. The most positive news being the increase in passenger numbers compared with the corresponding quarter last year of more than 300,000. This resulted in increased revenue and a year-on-year improvement in income before tax and nonrecurring items. However, profitability remains too low and must be raised. We are therefore doubling our efficiency program target to SEK 3 billion. We are also initiating efforts to further strengthen loyalty to SAS and to generate new growth initiatives by leveraging SAS’s strong brand and the EuroBonus program.

This information is information that SAS AB is obliged to disclose pursuant to the EU Market Abuse Regulation and the Securities Market Act. The information was submitted for publication, through the agency of the contact person set out above, at 8:00 a.m. CET on June 21, 2017.