The Group’s net sales decreased by 2.2% to EUR 1,610.3 (1,647.0) million. Net sales increased 0.4% in Mail, Parcel and Logistics Services but decreased 12.8% in Itella Russia mainly driven by currency exchange rates and the divestment of courier company Maxipost.
Net sales declined by 0.2% in Finland and declined by 13.9% in other countries. International operations accounted for 12.8% (14.6%) of net sales. The decline in international operations’ net sales was mainly related to the divestments in Russia as well as divestment of OpusCapita’s Finance and Accounting Outsourcing and related subsidiaries in Q3/2017.
The Group’s adjusted EBITDA declined to EUR 112.8 (118.6) million, 7.0% (7.2%). The negative development was due to Mail, Parcel and Logistics Services. The adjusted EBITDA increased both in OpusCapita and Itella Russia. EBITDA increased to EUR 105.0 (83.7) million, 6.5% (5.1%).
The adjusted operating result increased to EUR 44.8 (42.4) million, or 2.8% (2.6%) of net sales.
By continuing to browse or by clicking “Accept All Cookies,” you agree to the storing of first- and third-party cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. Cookie info
These cookies are necessary for the website to function and cannot be switched off in our systems. They are usually only set in response to actions made by you which amount to a request for services, such as setting your privacy preferences, logging in or filling in forms.
These cookies allow us to count visits and traffic sources so we can measure and improve the performance of our site. They help us to know which pages are the most and least popular and see how visitors move around the site.
These cookies may be set through our site by our advertising partners. They may be used by those companies to build a profile of your interests and show you relevant adverts on other sites.