Interim Report January-September 2005
- Net sales totaled SEK 18,285m (18,215)
- Operating earnings totaled SEK 942m (784). Last year's operating earnings included capital gains of SEK 206m
- After-tax earnings totaled SEK 939m (884). Last year's figure included a positive tax effect of SEK 163m resulting from an accounting change
- Equity-assets ratio was 30 percent (24)
- Cash flows from operating activities totaled SEK 1,023m (557)
President and CEO Erik Olsson comments:
Posten reported earnings for the first three quarters of 2005 of nearly one billion Swedish kronor. The company has strengthened its financial position.
We are seeing growth both in Direct Mail and Logistics, and efficiency improvements are offsetting declining mail volume. The change process outlined in Posten's 2004-2006 action plan is moving ahead on schedule.
The change effort aims to cut costs and increase revenues. Productivity has during the year improved by two percent.
We continue to await a Government statement on the future of nationwide essential financial transaction services.
We have agreed to extend and broaden the scope of existing contracts with our key strategic partners ICA, Axfood and OKQ8. And in early 2006, Posten will more clearly define the range of products and services it offers consumer customers.
The rate of change in Europe's message-forwarding and logistics market has never been higher than during 2005, mainly due to pre-deregulation planning and tougher competition.
Our firm financial footing, recognized delivery performance quality and strong position in the Nordic region give us the freedom of action needed to respond to growing competition and changes in the marketplace.
Please direct any questions
Posten's Press Office, tel +46 (0)8-23 10 10
The complete financial report can also be downloaded from the following link.
Posten connects people and organizations around the world by delivering mail promptly, reliably and cost-effectively. We drive value creation by combining conventional postal services and convenient electronic solutions, and integrating these services into customer businesses. With over 3,000 retail service outlets, we provide daily service to 4.5 million homes and 800,000 businesses in Sweden. Every day we handle close to 20 million pieces of mail. With sales of over SEK 25 billion and roughly 30,000 employees, the group is one of the largest in Sweden. The group's parent, Posten AB (publ), is wholly owned by the Swedish Government. For more information, please visit our website at www.posten.se