SAS reports a profit after tax of 171 million Swedish kronor in its accounting Q2 2016 (February-April), against 279 million Swedish kronor in the same period last year.
According to TDN Finans was it expected a profit of 307 million Swedish kronor.
earnings per share was 0.25 SEK, compared to 0.58 Swedish kronor at the same crossroads last year. The expectation was 0.93 SEK.
The result before tax was 127 million Swedish kronor, compared to 355 million Swedish kronor last year and expected 429 million Swedish kronor.
The operating profit was 240 million Swedish kronor, compared with 458 million SEK last year and expected 557 million Swedish kronor.
revenues amounted to 8,916 MSEK compared with 9,403 MSEK in Q2 2015. Pre tip was for 9.083 million Swedish kronor.
– We are leaving behind a quarter that profit is not satisfactory. However, it is gratifying that the commercial strategy focusing on frequent travelers, produce results and that more customers choose to fly with SAS, which is also reflected in the positive cash flow, says SAS CEO Rickard Gustafson comments.
– despite a greatly reduced fuel costs post we lower profit than last year. This poor performance is influenced above all by three factors; increased price pressure, cost of maintenance and negative currency effects, he adds.
Cash flow from operating activities came to rest in at 2.535 million Swedish kronor in the quarter, up one billion from the same period last year.
The report here.
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