Posten 2004 year-end report
- Net sales grew 2 percent to SEK 25,120m (24,519)
- Operating earnings increased SEK 1,269m to SEK 991m (-278). Net earnings include provisions totaling SEK -397m (-539) and capital gains of SEK 206m (-1)
- After-tax earnings improved by SEK 1,458m to SEK 1,225m (-233) - The equity-assets ratio was 28 (18) percent, a significant improvement
- Cash flows before financing activities totaled SEK 1,274m (-524)
- Posten proposes, for the first time since 1993, distribution of a dividend to the owner of SEK 150m
President and CEO Erik Olsson comments:
Posten's 2004 net earnings improved considerably year over year, driven mainly by higher revenues and substantial cost reductions. The bottom line is the proof that our organization was able to demonstrate crucial flexibility during a period marked by far-reaching changes and major cutbacks. Fierce competition and electronic substitution have eroded mail volumes, weighing on Posten's largest business area, messaging services. Demand for Posten's logistics and direct mail services continues to rise. In addition to solid financials, Posten is also pleased to report an uptick in customer confidence. The Customer Satisfaction Index as well as pollster Temo's annual Corporate Image survey trended positively during the year.
Please direct any questions
Posten's Press Office, tel +46 (0)8-23 10 10, press@posten.se
Download the complete financial report here:
Posten connects people and organizations around the world by delivering mail promptly, reliably and cost-effectively. We drive value creation by combining conventional postal services and convenient electronic solutions, and integrating these services into customer businesses. With over 3,000 retail service outlets, we provide daily service to 4.5 million homes and 800,000 businesses in Sweden. Every day we handle close to 20 million pieces of mail. With sales of over SEK25 billion and roughly 35,000 employees, the group is one of the largest in Sweden. The group's parent, Posten AB (publ), is wholly owned by the Swedish state. For more information, please visit our website at www.posten.se
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