Revenue for Norway’s postal operator Posten Group increased by 1.3% to Nkr 24.2bn (US$2.6 bn) with e-commerce growth making up for mail declining.
Adjusted operating profit was up to Nkr 808m (US$87m) kroner but operating profit measured as EBIT was down to Nkr 162m (US$17.5m), mainly due to restructuring costs.
E-commerce helped the logistics segment grow, with market growth and digital services combined with more cost-effective operations in the package and freight network improving profitability.
To meet growth and offer attractive services to Nordic online stores, Posten continues to add capacity in both Sweden and Denmark.
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.”
Letter volumes declined by 9.9% and Posten will deliver mail every other day from July.
Packages will still be delivered every weekday in large areas of the country.