Posti Group’s Decline in Turnover but Improved Profitability in First Quarter: What You Need to Know

Posti Group reported a decline in turnover in January-March, with a decrease of 3.9 percent to 382.1 million euros. Despite the drop in demand and political strikes being cited as contributing factors, the adjusted operating profit increased to 21.2 million euros, up from 9.6 million euros the previous year. According to the group, these were the reasons behind the decline in turnover.

Posti Group expects its turnover and adjusted EBITDA to remain at last year’s level for the current year. Acting managing director Timo Karppinen attributed the improved profitability in the first quarter to cost control measures. Although market uncertainty affected net sales in the quarter, the focus remains on ensuring efficiency in all operations moving forward.

Karppinen will continue to lead the group until the new CEO, Antti Jääskeläinen, assumes the role after the summer holidays. Jääskeläinen, formerly a business area manager at UPM, will take over from Karppinen in leading Posti Group. The company is owned by the Finnish state.