- The Group’s net sales decreased by 4.0% to EUR 434.3 (452.3) million.
- The Group’s adjusted EBITDA declined to EUR 38.5 (40.9) million, 8.9% (9.0%).
- The Group’s EBITDA increased to EUR 35.2 (22.9) million, 8.1% (5.1%).
- The adjusted operating result amounted to EUR 21.4 (23.0) million, or 4.9% (5.1%) of net sales.
- The operating result amounted EUR 16.9 (5.0) million, representing 3.9% (1.1%) of net sales.
- The parcel volume of Finland and the Baltic countries increased by 8% (11%), with 11% (18%) growth in consumer (B2C) parcels. Posti’s domestic freight measured in waybills, excluding food logistics, grew by 4% (8%). The number of addressed letters decreased by 10%(-10%) in Finland.
- Mail items covered by the universal service obligation accounted for 7.6% (9.4%) of all of Posti’s mail items. The Christmas season has a significant impact on the volume of items.
- The net sales of Parcels increased whereas the net sales of Postal Services continued to decrease, which reflects the transformation of the market.
- On December 5, 2018, the Finnish government decided to transfer 49.9% of the shares of Posti Group Corporation to ownership of the Finnish State Business Development Company Vake Oy. After this 50.1% of Posti’s shares remains in the State’s direct ownership. The transfer of ownership has no effect on Posti´s position and business.
- The Group’s net sales decreased by 2.2% to EUR 1,610.3 (1,647.0) million,
- The Group’s adjusted EBITDA declined to EUR 112.8 (118.6) million, 7.0% (7,2%).
- The Group’s EBITDA increased to EUR 105.0 (83.7) million, 6.5% (5.1%).
- The adjusted operating result improved to EUR 44.8 (42.4) million, or 2.8% (2.6%) of net sales.
- The operating result amounted to EUR 5.7 (-27.5) million, representing 0.4% (-1.7%) of net sales.
- The parcel volume of Finland and the Baltic countries increased by 10 %, with 16% growth in consumer (B2C) parcels. Measured in waybills and excluding food logistics, Posti’s domestic freight grew by 5%. The number of addressed letters decreased by 9% in Finland.
- Mail items covered by the universal service obligation was 4.6 % (5.5%) of all of Posti’s delivery volumes.
- The net sales of Parcel and Logistics Services accounted for almost 42% (40%) the Group´s total net sales.
- In May, Posti Group Corporation signed a new EUR 150 million syndicated revolving credit facility which replaced the previous EUR 150 million facility. The new facility has a maturity of five years with an option to extend for two years.
- In July, Posti opened one of Finland's largest freight terminals in Vantaa according to its strategy to grow in logistics.
- The Supreme Administrative Court of Finland delivered a decision on September 27, 2018 confirming that Posti’s pricing concerning the delivery of unaddressed advertising mail during 2007-2013 was not in violation of the competition law.
- Posti’s structural transformation continued:
- In April, Itella Russia divested its MaxiPost courier business to the Moscow-based Strategic Business Alliance. According to its strategy, Itella Russia focuses on its core businesses, contract logistics and transportation.
- During the H1, Posti’s Finnish, Swedish and Norwegian Debt Collection businesses were sold.
- In September, Posti signed an agreement on acquiring of in-house logistics company Suomen Transval Group Oy. The acquisition was completed on January 25, 2019.
- In December, Itella Connexions, a Posti subsidiary in Russia, was divested.
- Posti has renewed its organization and operating model to better correspond to market needs and e-commerce growth. As a part of the renewal, Posti announced on August 27 that Posti Group’s business will be divided into five business groups, of which three will be new. Starting January 1, 2019, the business groups are: Postal Services, Parcel & eCommerce, Logistics Solutions, OpusCapita and Itella Russia.
Outlook for 2019
Net sales, excluding possible new acquisitions and divestments, is expected to increase from 2018 driven by Transval acquisition. The Group’s adjusted operating result is expected to increase from 2018 due to Transval acquisition and transition to IFRS 16 accounting principles.
Source: Posti Group