Itella Corporation's Interim Report January-March 2012
|Key figures of Itella Group||1-3/2012||1-3/2011||2011|
|Net sales, MEUR||485.3||462.9||1,900.1|
|Operating result (non-IFRS), MEUR *)||22.8||0.6||30.5|
|Operating result (non-IFRS), % *)||4.7||0.1||1.6|
|Operating result, MEUR||21.0||0.6||-5.9|
|Operating result, %||4.3||0.1||-0.3|
|Result before taxes, MEUR||19.3||-2.4||-16.4|
|Operating result for the period, MEUR||11.6||-5.6||-30.7|
|Return on equity, %, 12 months||-1.9||-0.6||-4.5|
|Return on investment, %, 12 months||1.9||2.6||-0.2|
|Equity ratio, %||46.8||48.8||46.1|
|Gross capital expenditure, MEUR||22.0||11.1||102.9|
|Employees on average||27,202||28,290||28,493|
|*) Non-IFRS = excluding non-recurring items|
The return on equity and investment are shown as a rolling figure of the preceding 12 months.
Jukka Alho, President and CEO:
"The year got off to an auspicious start. While there are clear differences between the sales trends of our business groups, sales increased in all three of them and, in this respect, we can be reasonably satisfied with the development.
The effects of our cost-cutting and efficiency measures commenced last August are visible in our performance. Profitability improved markedly in comparison to last year. On the other hand, the changes related to letter mail and the print media continued, meaning that we should be prepared for further measures aiming to increase efficiency on this front.
The decree concerning postal outlets and the decision concerning a competing license for postal operations were approved at the beginning of March. The decree's approach to the postal network is to view it as a broad entity, so that Itella can exploit its various forms of service and retain the most popular ones as close to customers as possible in a cost-effective way.
In March, the working party of the Ministry of Transport and Communications published its report on the funding issues concerning universal postal service. Since the report's essential starting point is that Itella should secure funding itself with the profit included in the prices subject to the postal operations license, it is Itella's view that the report cannot serve as a basis for plans pertaining to the maintenance of universal service in the years to come. Funding is a big question if letter volumes decline steeply due to the influence of the Internet. The report is presently in circulation for comments and the ultimate solution is difficult to predict.
Itella Bank commenced operations as a deposit bank at the beginning of January, but its intense development of services continues. We believe that solutions that support postal operations and distance selling will make our services increasingly competitive. We now have a unique capacity and service offering for the production and development of the services of the new generation too."
Itella's Interim Report in full
Sari Helander, CFO, tel. +358 50 3791 819, email@example.com
NASDAQ OMX Helsinki
FINANCIAL CALENDER 2012
Interim Report Q2/2012 July 25
Interim Report Q3/2012 October 31
PHOTOGRAPHS AND LOGOS
Itella Group provides solutions for managing information and product flows. Itella operates in the fields of mail communications, logistics, and financial management in Europe and Russia. Net sales in 2011 amounted to EUR 1,900 million. The number of staff is approximately 27,500. Corporate services are delivered under the Itella brand, while the Posti brand is used for services targeted at consumers in Finland. For further information, go to www.itella.com/group.Itellas Interim Report in full_.pdf