Itella’s financial results for January-September 2008: Growth in Net Sales, Demand Remains Healthy

• Itella Group’s consolidated net sales for January–September totalled EUR 1,391.5 million, up by 11.6 per cent over the same period last year. The share of international operations was 30 per cent.
  
• Consolidated operating profit for January–September totalled EUR 68.1 million, down 14.6 per cent. EBIT margin dropped to 4.9 per cent from 6.4 per cent in the previous year. Profitability was reduced in particular by a sharp increase in labour expenses and increased fuel costs.
  
• In September, Itella Information acquired Tuottotieto Oy, which specialises in electronic billing. 
  
• A deal to acquire the Russian logistics group NLC (National Logistic Company) was completed in end of August. Its operations are continuing under the name Itella-NLC.
  

Jukka Alho, President and CEO:

- For the moment, the ongoing economic insecurity has had no significant effect on demand for Itella services. We must be prepared for notable changes in the situation, however, if a longer-term recession becomes evident.

Itella offers diverse services to meet companies’ and organisations’ financial administration, marketing and logistics needs. In the near future, we will expand our geographical operating area through information logistics, primarily through organic growth. On a Group-wide level our main challenge is to build an efficient corporate entity.

For further information, please contact 
Jukka Alho, President and CEO, tel.  +358 20 451 5600, firstname.lastname@itella.com
Tuija Soanjärvi, CFO, tel. +358 20 45 20907,  firstname.lastname@itella.com
www.itella.com/group/english/

APPENDICES
Board of Directors' Report
Consolidated Income Statement and Balance Sheet