Posti Group: Despite Decline in Turnover, Improved Profitability and Antti Jääskeläinen’s Appointment as CEO

Posti Group experienced a 3.9 percent decline in turnover in January-March, citing a drop in demand and political strikes as contributing factors. Despite the decrease to 382.1 million euros, the adjusted operating profit increased to 21.2 million euros, up from 9.6 million euros the previous year. The company’s acting managing director, Timo Karppinen, attributed the improved profitability in the first quarter to cost control measures, even though market uncertainty affected net sales in the quarter.

Karppinen also noted that although political strikes had an impact on turnover at the beginning of the year, there was a focus on ensuring efficiency in all operations moving forward. Posti Group expects its turnover and adjusted EBITDA to remain at last year’s level for the current year. In July, Antti Jääskeläinen will take over from Karppinen as CEO after being formerly a business area manager at UPM. The Finnish state owns Posti Group.