Parcel and logistics services at the Finnish Posti postal operator now outstrip its universal service obligation mail deliveries.
In its latest financial report, Posti said that the combines parcel volume for the Baltic countries and Finland increased by 11%. Addressed mail in Finland fell by 13%, and accounted for 4.3% of all of the items delivered by Posti.
Looking to the firm as a whole the postal operator group’s net sales increased by 0.7% to €378.6 million in Q3, but its adjusted EBITDA fell by 5.9% to €22.4 million.
In a statement Heikki Malinen, President and CEO, said: “E-Commerce is growing very strongly and Posti, as Finland’s largest logistics company, is active in this development.
“Posti continues to undergo a multi-year structural transformation as communication shifts from paper to digital and competition increases in traditional postal operations. A clear indication of this transformation is that Parcel and Logistics Services accounted for a higher share of Posti’s net sales in the third quarter than traditional postal services. The decline in the volume of addressed letters shows signs of accelerating, but e-commerce trends and the digital transformation also present opportunities for growth.
“Posti has developed a new strategy and updated its financial targets for the next three years. The postal sector is in a transformation of historic proportions, and Posti will continue its determined efforts aimed at renewal. The company has a strong focus on improving quality and the customer experience. Posti will pursue growth in e-commerce and related solutions, end-to-end logistics solutions ranging from transport to in-house logistics, new services and OpusCapita.
“At the core of the strategy are four objectives that will allow Posti to achieve renewal and emerge as a winner through this period of transformation: success in e-commerce, maintaining the importance of letters among customers, the renewal of Posti’s service culture, and leveraging the digital transformation to improve Posti’s services.
“The third quarter of the year was challenging for Posti. Net sales grew by nearly one percent, but the result was modest. Among the positives during the period were strong parcel growth and the high volumes of freight operations. The challenge was the steep decline in the volume of letters, which we were not able to fully compensate for in our production in the third quarter.
“The restructuring of the OpusCapita segment is moving ahead as planned. The new OpusCapita will focus on B2B customers by providing global solutions for sourcing, invoice processing, cash management and financing.”
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