SAS Group Year-end report January-December 2005
The year in brief• Operating revenue for the full year amounted to MSEK 61,887 (58,093), an increase of 6.5%. Operating revenue for the fourth quarter amounted to MSEK 16,287 (14,945), an increase of 9%.
• Number of passengers increased by 8% to 34.9 million for the full year.
• Income before depreciation and leasing costs for aircraft (EBITDAR) for the full year amounted to MSEK 6,117 (4,468) and MSEK 1,505 (1,202) for the fourth quarter.
• Income before capital gains and nonrecurring items improved by MSEK 1,815 and amounted to MSEK 114 (-1,701) for the full year and MSEK 228 (-320) for the fourth quarter.
• Income after financial items was MSEK 418 (-1,833) and MSEK 573 (-395) for the fourth quarter.
• Income after tax for the period amounted to MSEK 255 (-1,765) and MSEK 198 (-627) for the fourth quarter.
• CFROI for the 12-month period January-December 2005 was 13% (9%).
• Earnings per share for the SAS Group amounted to SEK 1.06 (-10.70) for the full year and SEK 0.88 ( -3.71) for the fourth quarter. Equity per share was SEK 70.02 (66.98).
• Turnaround 2005 comprising savings of SEK 14 billion was completed as planned. The unit cost has fallen by over 30% since 2002, adjusted for currency effects and increased fuel prices. Despite powerful measures, further cost savings must be made to ensure long-term competitiveness in several of the Group’s units. The SAS Group has initiated new cost-cutting measures corresponding to SEK 2 billion for implementation in 2006.
• Total unit cost adjusted for currency effects for Scandinavian Airlines Businesses decreased by -1.7% during the period January-December 2005 and by –1.7% for the fourth quarter of 2005. Adjusted for increased fuel prices, the unit cost fell by –5.4% and -4.5% respectively.
• The Board of Directors proposes to the Annual General Meeting that no dividend be issued to SAS AB’s shareholders for the 2005 fiscal year.
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 from: www.sasgroup.net
Please address any questions to: Investor Relations SAS Group: Vice President Sture Stølen +46 8 797 14 51, e-mail: email@example.com