Posti Group Corporation Interim Report Q1/2017

Financial highlights

• The Group's net sales increased by 7.2% to EUR 413.8 (386.1) million.
• The Group's adjusted EBITDA improved and was EUR 35.5 (29.8) million, 8.6% (7.7%).
• The Group's EBITDA improved to EUR 30.0 (21.2) million, 7.3% (5.5%).
• The adjusted operating result increased to EUR 15.5 (10.8) million, or 3.8% (2.8%) of net sales.
• The operating result improved and amounted to EUR 10.0 (0.6) million, or 2.4% (0.1%) of net sales.

Operational highlights

• Measured in waybills, Posti's domestic freight grew by 11%. Parcel volumes in Finland and in the Baltic countries grew by 8%. The number of addressed letters decreased in Finland by 8%.
• On January 10, 2017, Posti acquired HR Hoiva Oy (currently Posti Kotipalvelut Oy), which produces home care and personal assistance services for municipalities, joint municipal authorities and private customers.
• Posti started building a freight terminal of approximately 26,000 m2 on Suokalliontie in Vantaa. The construction of the terminal is a response to the growth of the freight business.
• Mail items covered by the universal service obligation accounted for 4.5% (5.6%) of all of Posti's mail items.
• The number of working days was 64 (61).
• In line with the Board of Directors' proposal, the Annual General Meeting decided on March 27, 2017 that a dividend of 69% of the Group's adjusted net profit, EUR 25 million be distributed. In addition to that, the Annual General Meeting decided in line with the Board of Directors' proposal that an extra dividend of EUR 35 million be distributed. Dividend distribution is altogether EUR 60 million. Markku Pohjola, M.Sc. (Econ. & Bus. Adm.) was elected as the new Chairman of the Board of Directors and Eero Hautaniemi as the new Member of the Board of Directors.

Outlook

• Net sales in euros for the year are further expected to increase compared to the previous year. The Group's adjusted operating result is further expected to remain on par with the previous year. The operating result for 2017 will include significant special items.

Figures in brackets refer to the comparison period, i.e. the same period last year, unless otherwise stated.

Key figures of Posti Group - Read More

Source: Posti Group