Posti Group’s net sales were up 3.4% year-over-year to €402.3m in Q2. Despite this, adjusted EBITDA declined to €19.8m, representing a drop of 4.9%. The group made an operating loss of €7.6m.
For the first half of 2017, this meant net sales totalled €816.1m, up 5.3% year-over-year. Adjusted EBITDA was still up from 2016 at €55.3m and Posti made a small operating profit of €2.5m.
Adjusted for the number of working days, parcel volumes were up 10% and freight volume was up 9% in Finland in Q2. Net sales increased by 21% in Logistics Services and by 1% in Parcel Services.
Posti stated it expected a further year-on-year increase in net sales in the second half of 2017, with its operating results expected to remain largely unchanged.
Source: Posti Group
