Posti Group: Improved Profitability Despite Political Strikes and Declining Turnover

According to Posti, a decline in turnover has been attributed to a drop in demand and political strikes. Despite this, the company saw an improvement in profitability in January-March compared to the previous year. The interim report indicates that Posti’s turnover decreased by 3.9 percent to 382.1 million euros, but the adjusted operating profit increased to 21.2 million euros, up from 9.6 million euros at the same time last year.

Acting managing director Timo Karppinen attributed cost control to the improvement in profitability at the start of the year, despite market uncertainties impacting net sales in the quarter. Karppinen will continue to lead the group until the new CEO, Antti Jääskeläinen, takes over after the summer holidays. Jääskeläinen, who previously worked as a business area manager at UPM, is set to lead Posti Group in the future, following the departure of former CEO Fur Kuusisto to Finnair.

Posti Group is a state-owned company in Finland and expects its turnover and adjusted EBITDA to remain at last year’s level for the rest of the year. Political strikes at the beginning of the year are cited as reasons for