- Net sales in January–September rose by 10 per cent, to EUR 1,230.9 million (1,120.6).
- All business groups showed growth. Net sales increased in Finland by 6 per cent and 24 per cent in other countries. Organic growth accounted for 6 per cent. The share of international operations was 26 per cent.
- In January–September, operating profit grew by 18 per cent, amounting to EUR 79.7 million (67.6), accounting for 6.5 per cent (6.0) of net sales. Profitability increased in Itella Mail Communication and Itella Information.
- A development and investment project concerning mail sorting and delivery in Finland was launched in Itella Mail Communication. Consequently, the decision was taken to build a new post centre in Oulu and to extend those located in Tampere and Kuopio. In Helsinki post centre sorting machines are currently being renewed.
- Itella Logistics acquired PS Logistics AB in Sweden.
- Itella Mail Communication sold the office services business of the Inhouse unit to ISS Palvelut Oy.
- The EU reached a consensus on the schedule for the entry into force of the new Postal Directive. Accordingly, the European postal markets will be opened up to competition, at the latest by 2011–2013. The new directive allows the member states to define more flexibly how basic delivery and other universal services are to be secured and financed. The impact of the directive in Finland will depend on how Finnish legislation governs its implementation.
- The Employer’s Association TIKLI and the Finnish Post and Logistics Union PAU concluded a two year collective labour agreement. The salary increases entailed by the new agreement signify a remarkable cost pressure to postal services and have a negative impact on the profitability development.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Jukka Alho, President and CEO, tel. +358 20 451 5600,
Tuija Soanjärvi, CFO, tel. +358 20 45 20907.
www.itella.fi/group/english/financials/financialpublications/year2007/interimreport3.html
APPENDICES
Interim Report
Consolidated Income Statement and Balance Sheet
