Posti Group sees improved profitability despite decrease in turnover at start of year

According to Posti, the decline in turnover is attributed to a drop in demand and political strikes. The Group saw an improvement in profitability in January-March compared to the previous year. The interim report indicates that the group’s turnover decreased by 3.9 percent to 382.1 million euros, but the adjusted operating profit increased to 21.2 million euros, up from 9.6 million euros at the same time last year. The decrease in demand and political strikes at the beginning of the year are cited as reasons for the decline in turnover by the group, as the strikes affected Posti’s storage and weakened the business area’s turnover.

Posti expects its turnover and adjusted EBITDA to remain at last year’s level for the rest of the year. Acting managing director Timo Karppinen attributed cost control to the improvement in profitability at the start of the year, despite market uncertainties impacting net sales in the quarter. Karppinen will continue to lead the group until the new CEO, Antti Jääskeläinen, takes over after the summer holidays. Jääskeläinen, who previously worked as a business area manager at UPM, is set to lead Posti Group in the future, following the departure of former CEO Fur Kuusisto to Finnair. Posti Group is a state-owned company in Finland.