Finnish post and logistics group Itella yesterday reported significantly improved figures forthe first half of 2012, with increases in revenues and profits for the group overall and for its
mail operations, although growth during the second quarter was “slightly less robust”.Itella Group’s net sales from January to June rose 2.8% to €958 million, with growth in all ofits business groups. The group’s profitability improved greatly, with first-half operating incomebefore non-recurring items rising to €28.7 million, or 3.0% of net sales, compared with a loss of€3.8 million in the same period last year.
In its Itella Mail Communications business, the operating result before non-recurring items grewto €36.0 from a €10.3 million loss last year, while the group’s Itella Logistics unit reduced itslosses to €3.5 million in the first half of 2012, compared with a loss of €8.8 million lastyear.
After recurring items, the group operating result in the first half amounted to €18.0 million,representing 1.9% of net sales, despite being weighed down by non-recurring items to the tune of€10.7 million. This compared with a €4.1 million loss in the same period last year.
Itella Group’s net sales in April-June amounted to €473.2, a slight increase on the same periodlast year. Net sales in Itella Mail Communications remained on the same level as a year ago, whileincreasing in Itella Logistics and Itella Information.
Jukka Alho, president and CEO, commented: “Itella’s January to June net sales clearly increasedand performance improved in comparison to the corresponding period in 2011. Net sales increased inall business groups. Following a strong first quarter, the growth during the second quarter wasslightly less robust, in line with normal seasonal fluctuation.”
He added: “Given that the overall economic situation became increasingly uncertain in the secondquarter, the result of the first half of the year can be considered satisfactory at the veryleast.”
He observed that the Itella Mail Communications unit increased its volumes in both unaddresseddeliveries and the parcel business, “despite a tough competitive environment”. In contrast, thevolumes of addressed letters and newspapers and magazines continued to decline.
“In this respect, the forceful efforts to increase efficiency have been absolutely necessary,”he said.
At the end of May, Itella Corporation and VR-Yhtymä signed a letter of intent on the acquisitionof VR Transpoint’s domestic groupage logistics business, although approval from the competitionauthorities is still required.
