SAS Interim Report November 2016 – January 2017
Seasonally weak earnings as expected – structural measures being planned
November 2016 – January 2017
- Income before tax: MSEK -697 (-309)
- Income before tax and nonrecurring items: MSEK -707 (-404)
- Revenue: MSEK 8,957 (8,275)
- EBIT margin: -6.4% (-2.2%)
- Net income for the period: MSEK -556 (-246)
- Earnings per common share: SEK -1.95 (-1.01)
- The outlook for the full year 2016/2017 is retained.
Comments by the President and CEO of SAS:
We are putting a seasonally weak quarter behind us, which, as expected, was worse than the preceding year. The inadequate profitability emphasizes the importance of SAS mobilizing to address the cost disadvantages that we have compared with more recently established competitors. Accordingly, we are working on the details of further measures to create long-term competitiveness and profitability. Overall, we foresee a large number of activities ahead, aimed at reducing the cost gap between SAS and more recently established competitors. This, combined with the establishment of new bases in London and Spain, will prepare for a strong SAS that can leverage all of the exciting growth opportunities that exist in our market.
This information is information that SAS AB is obliged to disclose pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 8:00 a.m. CET on March 8, 2017.