Axel Springer AG said it expects to write down the value of postal service provider PIN Group AG, in which it holds a majority stake, by up to 620 mln eur this year after talks with the other owner to finance the business failed.
The write-down will have a negative impact on net profit, it said in a statement.
PIN Group will be included in discontinued operations in the company’s full-year results.
Since 2016, Rovlocker systems have been operating successfully 24/7 across different regions of the world and under diverse climate conditions. Rovenma has been successfully deploying parcel locker networks for major operators including The Courier Guy in South Africa, Trendyol, Pudo, and PTT in Türkiye, as […]
Want to get your brand in front of our senior audience of post and parcel executives?
Find out more
Post & Parcel Magazine is our print publication, released 3 times a year. Packed with original content and thought-provoking features, Post & Parcel Magazine is a must-read for those who want the inside track on the industry.
