Posten Group grows due to e-commerce

The Posten Group Norwegian postal operator saw revenue increase by 1.3% to US $2.6bn in 2019. E-commerce offset the fall in mail volumes.

Adjusted operating profit grew to $87 million, though operating profit fell to $17.5 million thanks to restructuring costs.

The logistics segment grew thanks to e-commerce, though letter volumes declined by 9.9%. Posten will deliver mail every other day from July. However packages will continue to be delivered daily in much of the country.

Tone Wille, CEO of Posten, said, “We are pleased with the development in 2019. The growth, especially in the e-commerce market, is due to the development of services and digital solutions that meet customer needs. We are accelerating our innovation efforts and are shaping the delivery network of the future. Last year, we expanded our delivery network in Norway, Sweden and Denmark with almost a thousand new delivery sites.”