Posti’s Turnover Declines in Q1 2021 Despite Increase in Profitability, Citing Political Strikes and Drop in Demand

Posti, the Finnish postal services provider, has reported a decline in turnover for the first quarter of 2021. The group’s turnover decreased by 3.9 percent to 382.1 million euros compared to the previous year, while the adjusted operating profit increased to 21.2 million euros, up from 9.6 million euros at the same time last year. According to the interim report, political strikes and a drop in demand are cited as reasons for the decline in turnover.

Despite market uncertainties impacting net sales in the quarter, Posti expects its turnover and adjusted EBITDA to remain at last year’s level for the rest of the 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 previously worked as a business area manager at UPM and is set to lead Posti Group in the future, following