Posti – 60% of net sales are from parcels

Though parcel volumes and revenues grew in the first half of the financial year at Finnish Posti, EBITDA fell to €44.5 million in the period.

Parcel volumes in Finland and across the Baltics grew by 15% in the period thanks to strong growth in e-commerce. External net sales in parcels, e-commerce and logistics now account for 60% of net sales at the postal operator. At the same time, addressed letter mail fell by 9% year on year.

Turkka Kuusisto, President and CEO said of the results, “In the third quarter, net sales grew by 1.9%. However, the adjusted EBITDA decreased because of the the changes in our operating environment, such as the poor availability of workforce, and the VAT reform, which reduced shipment volumes from outside the EU. An exception to this was Freight Services, which improved its profitability with outstanding performance.

With the increasing volumes of our parcel and logistics businesses, we are in constant need of new employees. Currently, we have hundreds of open vacancies. Due to the lack of workforce, we need to continue extra measures to ensure smooth operations for our customers. We are continuously trying to find ways to address the issues brought about by the changing operating environment. In September, we started the operations of our Group-wide change unit. While we currently have many open positions in our growth businesses, the amount of work in Postal Services is decreasing. With the unit, we aim to find solutions for this employment mismatch and to responsibly manage the constantly changing situation.”

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