Drop in sales for PostNord

Nordic postal operator PostNord has reported that like-for-like sales decreased by nearly 3% in Q3 to SEK8.56 billion.

In a statement, Håkan Ericsson, President and CEO, said the decrease was attributable to a “further major decline – of 10% overall – in the Group’s mail volumes, 7% in Sweden and 21% in Denmark”.

Ericsson added: “In the first nine months of the year, like-for-like net sales decreased by around 4%. Total mail volumes were down 10%, 7% in Sweden and 20% in Denmark.”

But there positives too. As Ericsson explained: “At the same time as digitization is causing mail volumes to shrink, we are seeing strong growth in e-commerce-driven logistics and digital services. The increase in the Group’s e-commerce-related B2C volumes was 17% in the third quarter and 14% in the first nine months of the year. This indicates that the growing e-commerce business is in part offsetting lower revenue from the traditional mail business.”

As previously reported by Apex Insight, PostNord has recently reached an agreement with the Swedish and Danish states which has secured funding of SEK 2.2bn for the transformation of its Danish operations.
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