SAS Interim report January-September 1999

November 11, 1999 15:05

Highlights of the Interim Report as per September 30, 1999

• The SAS Group’s operating revenue increased by 1.9% to MSEK 30,612.

• The SAS Group’s income before taxes was MSEK 575 (2,465). Over capacity in the market with declining unit revenue is the major reason for this decrease in income. Income for the third quarter was MSEK 102 (1,015).

• Passenger traffic (RPK) increased by 1.4%. Traffic in Business Class decreased by 5% while Economy Class increased by 4%. The number of passengers increased by 2.4%.

• SAS continues to take measures to improve productivity and to adapt its capacity to meet present market demands.

• Cash flow from operations amounted to MSEK 1,251 (3,110).

• Capital gains on sales of shares and other fixed assets amounted to MSEK 610 (837).

• Earnings per share amounted to SEK 3.20 (10.11) for Danmark A/S, SEK 2.98 (10.77) for SAS Norge ASA and SEK 3.19 (11.11) for SAS Sverige AB.

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

SAS Danmark A/S MDKK 126 (407)
SAS Norge ASA MNOK 132 (482)
SAS Sverige AB MSEK 225 (783)