PostNord: Second quarter 2022
Second quarter 2022
- Net sales totaled SEK 10,037 million (10,323), a decrease of -5 percent (13) in fixed currency for like-for-like units
- Overall, parcel volumes decreased by -7 percent (14) due to lower business-to-consumer volumes
- Mail volumes decreased by -12 percent (-4).
- Operating income (EBIT) totaled SEK 214 million (518)
Comments from Annemarie Gardshol, CEO
Major actions taken to deal with a world that continues to present challenges
The Group's sales amounted to SEK 10,037 million (10,323), representing a decrease of -5 percent from the same period in the previous year. Operating income totaled SEK 214 million (518). The decrease in income is for the most part attributable to a continuing decline, of -7 percent (14), in parcel volumes in the quarter. In addition, the volume of mail has declined by -12 percent (-4). Income is also continuing to be negatively impacted by higher transport-related costs arising from inflation, increased fuel costs and capacity shortages as a result of the EU’s Mobility Package and the war in Ukraine. We succeeded in largely compensating for the increase in fuel prices via fuel surcharges.
We are continuing to focus closely on adapting our capacity and are taking appropriate actions in response to prevailing conditions in the form of implementing the price adjustments necessary and ensuring the right levels of staffing. We have upped the pace of our improvement programs, which are starting to deliver results.
Business-to-consumer parcel volumes are expected to continue to perform weakly over the rest of the year. Concern about private finances among consumers and weaker purchasing power are creating uncertainty in the e-commerce market. This will be offset to a certain extent by anticipated stable developments in business-to-business volumes.
High pace maintained in our transition
One of the areas that we are focusing closely on is strengthening our Nordic offering and exploiting the potential of our extensive Nordic network to increase synergies. We are continuing to invest in our network to strengthen our position in the long-term growing e-commerce market.
Our work takes as its starting-point high-level science-based goals, and it gives us pleasure that our plan for reducing our overall climate impact has been approved by the Science Based Targets initiative, an acknowledgement that our transition supports the Paris Agreement. Renewal of our vehicle fleet continues, partly in the shape of new electric cars on Funen, Denmark, and testing of an all-electric heavy goods truck in Sweden. In the quarter, we approved a decision to establish a major, sustainability-certified third-party logistics building in Norrköping, Sweden.
This report, presentation material and video are available on our Group website.
Contact: Malin Nordén. This information is of such a nature that PostNord AB (publ) is obliged to make it public pursuant to the EU Market Abuse Regulation. The information was submitted, through the agency of the contact person defined above, for publication at 10.00 CET on July 19, 2022.