- 7 November 2019
- Transport / Logistics Services
Posten Norge’s third quarter (Q3) results showed a 4.2% year on year growth to NOK 5.8 billion. Its adjusted operating profit was NOK 165 million up on last year to NOK 291 million. Profit increases came from both mail and logistics segments.
CEO Tone Wille comments on the positive trend. ”Healthy growth and improved profitability characterise the trend in the logistics segment in the third quarter. We are growing with existing customers and winning new ones. At the same time, the postal service is adapting to a digital age. In this way, we are contributing to sustainable development and realising the Group’s strategy,” says Wille.
The postal operator is planning its biggest ever change programme, when mail delivery will be reduced to every other day as of 1 July 2020, thanks to clearance from the government in amendments to the Postal Act.
The Logistics segment saw adjusted operating profit grow to NOK 213 million in Q3, NOK 126 million up on Q3 2018.
“In Norway we have taken new steps to develop the distribution network of the future with optional delivery points, both outside and inside the home. This fall, we began offering delivery inside the home with digital door locks, across Norway. The pace of innovation is high, and I am proud that Posten Norge was named Norway’s most innovative company in 2019 by InnoMag magazine,” says CEO Tone Wille.
Meanwhile the mail segment saw a NOK 56 million increase to NOK 132 million, this is despite a sharp decline in addressed mail volumes.