ITELLA CORPORATION STOCK EXCHANGE RELEASE APRIL 30, 2010, AT 12:00 A.M.
Key figures of Itella Group |
Q1 2010 |
Q1 2009 |
2009 |
Net sales, MEUR |
453.9 |
477.6 |
1,819.7 |
Operating profit (EBIT), MEUR |
18.3 |
19.9 |
46.7 |
EBIT margin, % |
4.0 |
4.2 |
2.6 |
Operating profit (EBIT), MEUR *) |
17.6 |
21.6 |
86.3 |
EBIT margin, % *) |
3.9 |
4.5 |
4.7 |
Profit before tax, MEUR |
17.1 |
-8.1 |
19.6 |
Return on equity, %, 12 months |
2.1 |
-2.5 |
-0.7 |
Return on investment, %, 12 months |
5.7 |
11.7 |
5.8 |
Equity ratio,% |
49.1 |
49.0 |
48.5 |
Gearing, % |
18.4 |
21.7 |
19.7 |
Gross capital expenditure, MEUR |
18.8 |
35.9 |
144.9 |
Personnel on average |
28,809 |
30,372 |
30,217 |
* Excl. non-recurring items
"The overall review of the first quarter did not suggest any clear changes in the economic conditions. It is only recently that slight positive movements have been observed. However, there is no certainty of a permanent upturn.
As far as the new Postal Services Act is concerned, we expect it to provide more clarity. Clear and unambiguous guidelines are required for issues such as the definition of universal services, the financing of postal services in sparsely populated areas, and the allocation of costs incurred by the shared delivery network on regulated products and other products, such as newspapers and magazines. According to the report issued by the Ministry of Transport and Communication, the new law provides an opportunity for funding through public subsidies, but the threshold to its introduction is, in our opinion, quite high. Continuous operational efficiency improvement will continue to be necessity for Itella in the future.
All operations associated with postal services in Finland will be transferred from the parent company to a new subsidiary, Itella Posti Oy, at the turn of the year. The new legal structure will simplify management and increase the financial transparency of operations. After the change, Itella Mail Communication will have the same company structure as Itella Logistics and Itella Information, which also operate through subsidiaries."
APPENDICES
Itella's full Interim Report
FURTHER INFORMATION
Tuija Soanjärvi, CFO, tel. +358 20 45 20907,
email: firstname.surname@itella.com
www.itella.com/financials
DISTRIBUTION
NASDAQ OMX Helsinki
Media
www.itella.com
FINANCIAL CALENDER 2010
Interim Report Q2 on Wednesday, July 28
Interim Report Q3 on Wednesday, October 27
PHOTOGRAPHS AND LOGOS
www.itella.com/media
Itella Group provides solutions for managing information and product flows. Itella operates in mail communication, information logistics and logistics in northern and central Europe, and in Russia. The Group employs some 29,000 staff and reported net sales of EUR 1,820 million. Corporate services are delivered under the Itella brand, while the Posti brand is used for services targeted at consumers in Finland. More information is available online at www.itella.com/group.