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SAS Q1 2021 CONTINUOUS NEGATIVE IMPACT FROM THE ONGOING NOVEMBER 2020 - JANUARY 2021 Revenue : MSEK 2,282 ( 9,707 ) ● • Income before tax ( EBT ) : MSEK -1,936 ( -1,087 ) • Income before tax and items affecting comparability : MSEK -1,948 ( -1,078 ) • Net income for the period : MSEK -2,050 ( -861 ) Earnings per common share SEK -0.28 ( -2.33 ) SIGNIFICANT EVENTS DURING THE QUARTER • Rickard Gustafson announced his decision to leave SAS after ten years . He will leave the company by July 1 , 2021 . • SAS and Apollo have extended their charter partner ship in the form of a three - year contract valued at SEK 3.4 billion . ● SAS contracted and utilized a new NOK 1.5 billion credit facility with a three - year tenor that is guaran teed in full by the Norwegian Export Credit Guarantee Agency . SAS INTERIM REPORT NOVEMBER 2020 - JANUARY 2021 SAS KEY FIGURES - Q1 2021 -76 % Total revenue vs last year SE - ROJ -57 % Total operating expenses -84 % Total passengers vs last year PANDEMIC " SAS is monitoring global vaccination developments closely in order to be ready to quickly increase capacity when conditions permit " Rickard Gustafson , President and CEO DO ..... FINANCIAL SUMMARY MSEK , unless noted otherwise -8 Revenue Operating income ( EBIT ) Operating income ( EBIT ) margin Income before tax ( EBT ) Income before tax and items affecting comparability Net income for the period Cash flow from operating activities Return on invested capital¹ Financial net debt / EBITDA¹ Financial preparedness¹ Equity / assets ratio Earnings per common share ( SEK ) A STAR ALLIANCE MEMBER Shareholders ' equity per common share ( SEK ) 44 % 19 % -0.28 Q1 Nov - Jan Q1 Nov - Jan 2020-2021 2019-2020 2,282 9,707 -2,171 -767 -95.1 % -7.9 % -1,936 -1,087 Jan 31 , 2021 Oct 31 , 2020 Jan 31 , 2020 -30 % -27 % 7 % 2 n / a n / a 67 % 18 % 4.1x² 32 % 2 8 % 0.26 -1,948 -2,050 -4,937 -21.55 -1,078 -861 555 0.40 -2.33 7.67 ¹ ) Key figure as per January 31 , 2021 and as per October 31 , 2020 including IFRS 16. The key figure as per January 31 , 2020 is based on financial statements according to IAS17 ( excluding IFRS 16 ) . 2 ) The key figure has been calculated according to another definition and has not been restated . The previous definition is found in APM Q1 2020 . This information is information that SAS AB is obliged to disclose pursuant to the EU Market Abuse Regulation . The information was submitted by Michel Fischier for publication on February 25 , 2021 at 8:00 a.m . CET . 1