SAS Group’s Annual Report 2012

Published on : Friday, February 15, 2013

sas airplaneThe Board of Directors of SAS AB has held a meeting where the annual report for 2012 (January – October) for SAS Group and the parent company SAS AB was presented and approved.

The annual report is now available on the Internet, www.sasgroup.net under Investor Relations/Reports and presentations/Annual reports, and will be printed and distributed to shareholders and other stakeholders who have notified their interest to receive a copy.

The Annual Report contains final calculations pertaining to the SAS Group’s defined-benefit pension plans, which show that actuarial gains and losses including plan amendments amount to SEK 13.5 billion at October 31, 2012. In parallel, the effects of the new pension conditions amount to SEK 3.4 billion compared with the previously reported SEK 2.8 billion. Accordingly, pro forma actuarial gains and losses including plan amendments, after amortization, reversal of deferred tax liabilities and including Widerøe’s actuarial gains and losses, amounted to SEK 7.9 billion, which is in line with the estimates made in conjunction with the fourth quarter report.

Aside from this, the annual report does not contain any new substantial information which has not already been disclosed.

Dividend proposal 
The Board of Directors proposes to the Annual General Shareholders’ Meeting that no dividends be paid to SAS AB’s shareholders for the 2012 fiscal year. This is motivated by the SAS Group’s results and cash flow. A good financial position and financial flexibility will be important in completing all measures in the 4Excellence and 4XNG strategies as well as in future investments.

Annual General Meeting 
The Annual General Meeting will be held on March 20, 2013 at 2.00 pm CET at Clarion Hotel, Arlanda Airport, Sweden. Shareholders are also entitled to participate at the Annual General Meeting from a venue in Copenhagen (ParkInn by Radisson Copenhagen Airport) and in Oslo (Radisson Blu Nydalen Hotel).

 

Source:- SAS

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