2013 Annual General Meeting

PostNord AB’s annual general meeting was held on April 18, 2013. PostNord’s President & CEO Lars Idermark’s speech to the AGM included mention of 2012’s challenging market conditions. The AGM elected Jens Moberg as new Chairman of the Board and resolved to distribute a dividend of SEK 103 million.

In his speech to the AGM, PostNord’s President & CEO Lars Idermark stated that PostNord’s market conditions have been characterized by a challenging macroeconomic environment and the effects of an increasing level of digitalization, which has resulted in a decline in the demand for mail. The logistics market was characterized during the year by intense competition and the effects of the economic trend.

Mr. Idermark pointed out that PostNord performed well during the year despite prevailing market conditions. Net sales declined, but stabilized in relation to the trend of recent years. Operating profit was down, however, excluding non-recurring items and the comprehensive restructuring measures taken during the year, the operating margin was 4.0 percent.

- Given the complex nature of our company’s reality, this is a satisfactory result. Three of our four business areas reported improved adjusted operating profit.

Mr. Idermark also reported on the implementation of the Roadmap PostNord 2015 strategy, which continued as planned during the year.

Mr. Idermark called attention to the fact that PostNord is highly dependent on regulatory requirements. In recent years, important steps have been taken in many European countries, including Denmark, to adapt the scope and focus of universal postal services to prevailing market conditions. Idermark stated that this also needs to be done in Sweden.

-We want to be able to offer an efficient, self-financed postal service in the future as well. One prerequisite for this is the development of the regulatory framework in harmony with market changes.

Mr. Idermark indicated in his speech that PostNord generated significant cost reductions in 2012 by continuously adapting the business to reduced mail volumes and by further optimizing the group’s central administration. Five larger businesses were also acquired during the year. Establishment of the new terminal structure in Sweden is proceeding according to plan. Carbon dioxide emissions were reduced and delivery quality improved.

Mr. Idermark also stated that the changes being implemented in the company, including substantial investments and streamlining efforts, are important for the future:

- The changes being made within the businesses are essential. They create opportunities for growth and improved profitability in the company. They also improve PostNord’s capacity to continue to deliver high levels of service and quality in tomorrow’s communication and logistics markets.

Lars Idermark’s speech to the AGM will be available in its entirety on PostNord’s home page: www.postnord.com.

Resolutions adopted by the annual general meeting

The AGM adopted the income statement and balance sheets and the consolidated income statement and balance sheets. The AGM approved the Board’s proposal to distribute a dividend of 0.0515 per share, a total of SEK 103 million, to the shareholders. The Board of Directors and the President & CEO were discharged from liability for financial year 2012.

The Board presented its proposed guidelines for determining compensation for executives, which were approved by the AGM.

The AGM resolved that the Board of Directors shall be comprised of eight AGM-elected members and no deputies. Jens Moberg was elected as the new Chairman of the Board. The AGM re-elected Board members Mats Abrahamsson, Gunnel Duveblad, Jonas Iversen and Torben Janholt. The AGM elected Christian Ellegaard, Sisse Fjelsted Rasmussen and Anitra Steen as new Board members.

The AGM approved the proposals on remuneration to the Board for the period through the next annual general meeting. The AGM also resolved that no Board or committee fees will be paid to members employed by the Government Offices in Sweden, and that auditor fees shall be paid upon invoice approval.

Auditing firm KPMG AB was newly elected as auditor for the period through the close of the 2014 annual general meeting, with certified public accountant Helene Willberg as auditor in charge.

Complete minutes of the annual general meeting will be available on PostNord’s home page: www.postnord.com.

PostNord AB (publ) is required to disclose the foregoing information under the Security Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication on April 18, 2013.

PostNord was formed through the merger of Post Danmark A/S and Posten AB in 2009. The group offers communication and logistics solutions to, from and within the Nordic region and had in 2012 sales of  SEK 39 billion and 40,000 employees. Operations are managed in business areas Mail Denmark, Mail Sweden, Logistics and Strålfors. The parent company is a Swedish public company headquartered in Solna, Sweden. Read more about PostNord at www.postnord.com.

Last updated: 2/18/2014 4:02 PM