PostNord has reported its 2019 financial results. The company’s revenues increased by 0.6% year-on-year, excluding acquisitions/disposals and currency effects, to reach SEK38,278m (€8.31m). According to PostNord, the improvement in income over the full year was the result of efficiency improvements and favourable growth in prices. Adjusted operating income (EBIT) improved considerably to SEK541m, up from SEK129m the previous year.
The Communication Services segment revenues decreased by 7.4% year-on-year to reach SEK15,680m. On the other hand, the e-Commerce & Logistics segment saw an increase of 7.0% year-on-year to reach SEK22,598m. e-commerce continues to drive growth in the logistics business and in the fourth quarter PostNord delivered just over 50m parcels. Accumulated volume growth for parcels was 4% year-on-year, with a rise of 10% for B2C parcels. Income from third-party logistics increased by 14% for the full year, excluding currency effects.
In the course of 2019, PostNord invested approximately SEK1.4bn in parcel terminals, sorting machines, vehicles and digital development.
Annemarie Gardshol, President & Group CEO said: “The Group is in the middle of a paradigm shift, driven by changes in patterns of communication and consumption. PostNord’s future lies in the parcels business. At the same time, we are keen to ensure a good postal service for everyone in Sweden and Denmark. We now look forward to another exciting year, where change will set the tone.”
Source: PostNord
*SEK 10.59 = € / SEK 9.46 =$
