Posten delivers strong financial results
- Net sales increased by 10% to total SEK 21,883m (19,883)
- Operating earnings improved by 22% to total SEK 1,948m (1,601)
- Net earnings increased 14% totaling SEK 1,498m (1,313)
- The Cashier Service and Nordea have entered into an agreement stating that Nordea will take over operations at approximately 70 Cashier Service offices
Message from the CEO
With improved financial results in all core operations, Posten can present a strong report for the first nine months of the year. Operating earnings improved by 22 percent, totaling just over SEK 1.9 billion. Net sales increased by 10 percent, amounting to more than SEK 22 billion. The organic growth of 2 percent stems mainly from increased volumes in the logistics operations. At the same time, the sustained high intensity of our sales efforts has resulted in a great deal of valuable new business in all core operations. I am also very pleased that our long-term focus on health is resulting in a steady decrease in sickness absenteeism. Not only does the reduced sickness absenteeism imply an improved quality of life for our employees, but it also has a positive and significant effect on costs.
The continued growth of import and export flows, together with the expanding distance trade are powerful forces driving Posten Logistics to develop into a full-service Nordic supplier. In the aggressive competitionamong international players, it is especially crucial to ensure efficient and competitive capacity with constant profitability. Therefore, it is very good news that Posten Logistics has now established its distribution network in Norway and has further secured its position on the Nordic logistics market through the acquisition of the Finnish logistics company Suomen Logistiikkatalo Oy.
Posten Messaging continues to successfully meet the challenges facing traditional mail thanks to its goal-oriented rationalization efforts. An evergreater number of people see the advantages of being able to order goods over the Internet and then collect them while doing the shopping, getting gas, or running other errands. This is why the local presence at Posten's 1,600 service locations throughout Sweden is a key point of contact, and a competitive advantage in our service offer for the growing distance trade.
Stralfors' positive development continues, while the integration of Posten's and Stralfors' printing operations has entered its final phase and is scheduled to be complete by New Year. During the period, Stralfors has reinforced its position on the Nordic market for information logistics.
We have now submitted our closure schedule for the Cashier Service to The Swedish Post and Telecoms agency. In conjunction with this, we have entered into an agreement with Nordea, who will take over the operations of about 70 offices. Not only is this positive for many Cashier Service customers and employees, but it also means that Posten's image will become more defined towards its customers, enabling us to continue focusing on our core operations.
President and CEO
Please direct any questions to :
Posten's Press Office, tel: + 46 (0)8-23 10 10
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 4,000 retail service outlets, we provide daily service to 4.5 million homes and 900,000 businesses in Sweden. Every day we handle close to 20 million pieces of mail. With sales of nearly SEK 30 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