1. Operating income SEK 300m (312).
2. Net income for the period SEK 219m (203).
3. Earnings per share SEK 0.11 (0.10)
4. Cash flow from operating activities SEK 211m (1,140).

Message from Håkan Ericsson, President and CEO

E-commerce continues to grow with impressive momentum. The logistics market is expanding, but competition is tough. The mail market is characterized by declining volumes. In this market situation, we are continuing to make headway on our chosen path, to maintain a high pace in adapting our business to meet new needs and conditions.

Group operating income for the first quarter totaled SEK 300m (312). Net sales, excluding acquisitions and exchange rate effects, decreased by 4% compared to the corresponding quarter last year, mainly as a result of a fall in mail volumes. The decrease was partly caused by the calendar effect of the early Easter holiday. Our robust programme of adjustment is progressing according to plan, and cost reductions have enabled us to offset the loss of revenue.

The strong growth in e-commerce throughout the Nordic region continues. Our B2C volumes were 12.4% higher than in the corresponding quarter in 2015. PostNord is steadily consolidating its position as the first choice for e-retailers, by offering specialist know-how and offering a competitive portfolio of services that cater to all customer needs. On April 1, we launched MyPack in Europe, providing a service that enables our e-commerce customers to reach private individuals in Europe. This is made possible via our collaboration with DPD, which operates perhaps the best delivery network in Europe.

As part of our strategy to develop a harmonized end-to-end Nordic offering, we acquired G.P. Spedition in Denmark. The acquisition boosts our total offering in heavy logistics, above all in Danish and intra-Nordic logistics. PostNord is already a major, broadly-based logistics operator in Sweden and Norway. With the expansion in Denmark and last year’s acquisition of UPK in Finland, we have rounded out our cross-border logistics offering to customers in all Nordic countries.

The Group’s total mail volumes declined by 8% in the quarter, of which 18% in Denmark and 6% in Sweden. However, volumes were also impacted to some extent by the above-mentioned Easter effect.

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Source: PostNord