Year End report January-December 2000

February 13, 2001 14:45

• The SAS Group’s income before taxes was MSEK 2,773 (1,846). Income for the fourth quarter amounted to MSEK 1,705 (1,245).

• Income excluding capital gains amounted to MSEK 1,235 (420) for the full year 2000 and MSEK 457 (429) in the fourth quarter.

• The SAS Group’s operating revenue rose 8.7% to MSEK 47,540.

•Passenger traffic (RPK) increased by 7.0%. Traffic in Business Class rose 9%.

• Increased fuel costs had a negative impact on earnings of MSEK 1,677 compared with the previous year. The business improvement program was implemented according to plan which led to a 3.0% reduction in the unit cost, excluding the higher fuel costs.

•Earnings before depreciation and leasing costs for aircraft (EBITDAR) increased by 35% to MSEK 5,652 (4,199) .

•Earnings per share amounted to SEK 15.48 (8.70) for SAS Danmark A/S, SEK 12.49 (7.94) for SAS Norge ASA, and SEK 11.79 (8.41) for SAS Sverige AB. The proposed dividend is DKK 3.80, NOK 4.20 and SEK 4.50 per share respectively.

• SAS’s parent companies report the following income after taxes:

SAS Danmark A/S MDKK 642 (345)

SAS Norge ASA MNOK 564 (352)

SAS Sverige AB MSEK 831 (593)