SAS Year end report January-December 1999

February 17, 2000 08:00

Highlights in the Final Accounts as per December 31, 1999

•SAS Group’s income before taxes was MSEK 1, 846 (2, 857). Income for the fourth quarter was MSEK 1,245 (378).

•Over capacity in the market, a general pressure on prices and a change in the volume of the two price segments are, largely speaking, the reasons for the decrease in operating income for 1999.

•Unit costs were 1.1% lower than in the previous year.

•Passenger traffic (RPK) increased by 1.6%.

•Cash flow from operations amounted to MSEK 2,227 (3, 807).

•Capital gains on sales of shares and other fixed assets amounted to MSEK 1,431 (1, 016).

•Earnings per share for SAS Danmark A/S was SEK 8.70 (13.78), for SAS Norge ASA SEK 7.94 (12.13) and for SAS Sverige AB SEK 8.41 (12.77). A dividend of DKK 3.50, NOK 3.75 and SEK 4.00 per share, unchanged from the previous year, is proposed.

• SAS’s parent companies report income after taxes as follows:

SAS Danmark A/S MDKK 345 (545)
SAS Norge ASA MNOK 352 (541)
SAS Sverige AB MSEK 593 (900)