Posti Group, a state-owned company in Finland, has reported an improvement in profitability for the first quarter of 2021 compared to the same period last year. Despite this positive news, the group’s turnover decreased by 3.9 percent to 382.1 million euros, citing a drop in demand and political strikes as reasons for the decline. The interim report also noted that the strikes affected Posti’s storage and weakened its business area’s turnover.
Despite market uncertainties impacting net sales in the quarter, acting managing director Timo Karppinen attributed cost control to the improvement in profitability at the start of the year. He will continue to lead the group until the new CEO, Antti Jääskeläinen, takes over after the summer holidays. Jääskeläinen previously worked as a business area manager at UPM and is set to lead Posti Group in the future, following the departure of former CEO Fur Kuusisto to Finnair.
Posti expects its turnover and adjusted EBITDA to remain at last year’s level for the rest of the year. Despite these challenges, Posti remains committed to delivering value for its customers and continuing its mission of providing reliable postal services throughout Finland.
