Norway Post saw stable revenues during the first quarter of 2013 compared with 2012, while its operating profit was lower than in the same period last year.
During the first quarter of 2013, the Group’s operating income amounted to NOK 5 730 million, which was on a par with the same period last year. Operating profit (EBIT) before non-recurring items and write-downs in the first quarter of 2013 amounted to NOK 146 million, which was NOK 124 million (46 %) lower than in the first quarter of 2012. The primary reason for this deterioration in profit was low revenue, plus the fact that Easter fell in the first quarter, while it fell in the second quarter last year. This affected both volume and revenue for all Group companies.
The volume of addressed mail was 8.1 per cent lower than last year. The decline in volume was slightly greater for economy mail than for priority mail. The finance/insurance industry saw the greatest slump compared with last year.
The Norway Post Group has been focusing on logistics over the past decade in order to meet the needs of its customers. Now almost 60 per cent of Group income is derived from the logistics segment, with 30 per cent coming from companies outside Norway.