22-08-2025
'We are looking back on a six-month period that we are very satisfied with. We have handled increased parcel volumes from online shopping, while at the same time there has been good cost control in production and in our Nordic network. We have completed a demanding period of cost cuts and major changes, and it is therefore good to see that this increases profitability while we manage to maintain high delivery quality of both goods, parcels and letters', says Petter-Børre Furberg, CEO of Posten Bring.
Adjusted operating margin in the first half was 3.9 percent, compared to 1.6 percent last year. Operating profit (EBIT) in the first half was NOK 466 million, an increase of NOK 205 million, compared to the first half of last year. Continued growth in the Nordic economies is expected in 2025. At the same time, there is high uncertainty related to the economic outlook, and how increased trade barriers and geopolitical tensions will affect the market. Increased protectionism in international trade may create shifts in the flows of goods between countries and regions.
In the second quarter of 2025, Posten Bring had revenue of NOK 6.1 billion, a decrease of 2.5 percent compared to the same period last year. Adjusted operating profit for the second quarter ended at NOK 205 million, compared to NOK 213 million in the second quarter of 2024. The decrease was mainly driven by the fact that the Easter holidays fell in the second quarter of this year, while last year they were in the first quarter.
The logistics business
In the first half of the year, the logistics business achieved revenue of NOK 9,989 million, an increase of NOK 214 million from the same period last year. Parcel volume from online shopping (B2C) increased by 4.2 percent in the first half of the year compared to the same period last year, while parcel volume from the business market (B2B) fell by 1.4 percent. Bring's warehousing services can show a positive revenue development and International forwarding delivers a stronger result in the first half of the year. Adjusted operating profit in the logistics business was NOK 533 million in the first half of the year, an increase of NOK 287 million from the same period last year. This gave an adjusted operating margin of 5.3 percent, compared to 2.5 percent last year.
In the first six months of the year, there has been steady and good growth in the parcel market in Sweden and Denmark in addition to a stable high level in Norway. It has been decided to establish a new logistics center in the Stockholm area, with completion expected in a few years. The establishment will increase the group's capacity in Stockholm. Sweden is the largest e-commerce market in the Nordic region and an important market with potential for large flows of goods between Norway and Sweden.
Postal services
The postal segment's revenue was NOK 2,622 million in the first half of the year, a decrease of NOK 265 million compared to the same period last year. The volumes of addressed mail fell by 9.1 percent in the period, while the volumes of unaddressed mail fell by 15.1 percent. This was partly offset by, among other things, positive volume growth for Norgespakke of 5.2 percent in the first half of the year. Digipost has also had a positive development in the period, with revenue growth driven by new users. Adjusted operating profit in the postal segment was NOK 79 million in the first half of the year, an increase of NOK 9 million compared to the same period last year.
In the first half of the year, 88 percent of addressed mail was delivered within three days, thus exceeding the licensing requirement of 85 percent.
Sickness absence in the first half of the year ended at 7.2 percent, which is 0.1 percent higher than the same period last year. For the first half of the year, the injury frequency (H2) ended at 6.4, which was 2.4 lower than last year.
Key figures Q2 2025 (Q2 2024 in brackets)
Operating income (MNOK): 6,137 (6,293)
Adjusted operating profit (MNOK): 205 (213)
Operating profit (EBIT) (MNOK): 177 (281)
Key figures 1st half of 2025 (1st half of 2024 in brackets)
Operating income (MNOK): 12,385 (12,263)
Adjusted operating profit (MNOK): 482 (201)
Operating profit (EBIT) (MNOK): 466 (261)
Equity ratio %: 29.9 (29.9)
Return on invested capital/ROIC %: 9.2 (5.6)*)
Return on equity (after tax) %: 6.6 (3.2) *)
* last 12 months
The results presentation can be seen here at 09:30: http://www.kaltura.com/tiny/5d04n
Source: Posten Bring