Improved results in a challenging market

14 Feb 2025 08:30 CET

Posten Bring 's revenues in 2024 amounted to NOK 24,972 million, an increase of
NOK 577 million compared to 2023. Last year's adjusted operating profit was NOK
906 million, an improvement of NOK 190 million compared to 2023. The main driver
behind the improved results is the growth in e-commerce combined with good cost
control. The Group handled over 100 million parcels last year.

– The logistics industry and many markets have been characterized by turmoil and
uncertainty, making it extra important for us to be a stable and predictable
supplier. Changes in the market led to us changing the way we work in several
areas, while also moving much of our innovation work closer to the core business
to increase the pace of service development. We have implemented key parts of
our profitability program and made cost reductions that have contributed
significantly to the improved results, and we expect these to provide us with
new gains in 2025, says Petter-Børre Furberg, CEO of Posten Bring.

Growth for the logistics business, especially in Denmark
The revenue of the logistics segment was NOK 20,065 million in 2024, an increase
of NOK 658 million compared to the same period last year. The growth was mainly
driven by growth in e-commerce parcels and increased. The volume of e-commerce
parcels (B2C) increased by 3.8 percent in 2024 compared to last year, mainly due
to increased volumes from e-commerce platforms in China, as well as growth in
parcels delivered in Denmark.

The adjusted operating profit in the logistics segment was NOK 886 million in
2024, an increase of NOK 197 million compared to last year. The positive
development in e-commerce parcels contributed to the strengthening of the
result, despite high costs associated with weather challenges at the beginning
of the year.

Ongoing cost adjustments and the implementation of the profitability program
have helped to keep cost development down despite high price growth throughout
the year. An improvement in results from freight and specialised forwarding has
also contributed positively.

Less addressed post
The revenue of the postal segment was NOK 5,617 million in 2024, a decrease of
NOK 218 million compared to the same period last year. On an annual basis, the
volumes of addressed post fell by 11.4 percent. This was partially offset by a
positive volume growth for Norgespakke of 12.9 percent in 2024.

The adjusted operating profit in the postal segment was NOK 292 million in 2024,
a decrease of NOK 2 million compared to the previous year.

In 2024, 90.2 percent of addressed post was delivered within three days, thus
exceeding the concession requirement of 85 percent.

Report on the future of Norwegian postal services out for consultation
In December, the government's expert committee presented its report on the
future of Norwegian postal services. The report is now out for consultation,
where everyone can contribute with input on, among other things, how the
Norwegian national postal network should be managed in the best possible way to
create social value. Posten Bring will provide input on how we believe future
postal services should be organised.

More than half of Norwegians get their mail delivered by electric vehicles
Posten Bring aims to be a driving force in the transition to a low-emission
society, and the pace of change must be high to continue leading the industry's
development. By the end of the fourth quarter, 56 percent of the group's
vehicles used renewable energy sources.

Last year's sickness absence measured as a 12-month trend ended at 7.2 percent,
0.5 percentage points higher than the same period last year. The trend of
increasing sickness absence has been evident throughout the year, and systematic
efforts are being made to reverse this trend.

Key Figures Q4 2024 (Q4 2023 in parentheses)
Operating revenues (MNOK): 6,662 (6,724)
Adjusted operating profit (MNOK): 360 (214)
Operating profit (EBIT) (MNOK): 65 (198)

Key Figures 2024 (2023 in parentheses)
Operating revenues (MNOK): 24,972 (24,394)
Adjusted operating profit (MNOK): 906 (716)
Operating profit (EBIT) (MNOK): 644 (599)
Equity ratio %: 30 (29.9)
Return on invested capital (ROIC) %: 7.2 (6.1)
Return on equity (ROE) %: 4.5 (3.1)

The quarterly report for Q4 2024 is attached.

More information:
Access the news on Oslo Bors NewsWeb site

638771_Presentasjon 4. kvartal 2024 NO.pdf
638771_Kvartalsrapport 4. kvartal 2024 NO - final.pdf