Scandinavian postal operator PostNord has announced positive financial results for the second quarter (Q2) of 2015. The group’s net sales of Skr9.66bn (US$1.12bn) were slightly lower than the Skr9.8bn (US$1.14bn) recorded for Q2 in 2014. However, adjusted operating income reached Skr33m (US$3.8m), a marked improvement on the Skr30m (US$3.5m) loss recorded for the same period the previous year.
Overall the group recorded strong growth in e-commerce, with B2C parcel volumes increasing by 17% for the quarter. The group’s mail volumes continued to decline with a reduction of 15% in Denmark and 7% in Sweden for the quarter.
Håkan Ericsson, president and CEO, PostNord, said, “It is vital that amendments to the postal regulations should be based on the continually changing needs of customers so that a universal postal service can be maintained in the long term under reasonable economic conditions.
“In late April the Court of Justice of the European Union announced its verdict that postal services not covered by individually negotiated agreements are to be VAT-exempt. PostNord is now awaiting ongoing amendments to Swedish VAT legislation. This may entail an increase in costs for PostNord due to a reduced right to deductions for input VAT.
“With rapidly declining mail volumes we face major challenges, but we are concurrently strengthening our position as a leading logistics operator. Continuous efficiency improvements and adaptations are, however, essential to secure long-term profitability. With a great focus on customers we will deliver on our promises.”
August 19, 2015
