Tag: Norway

A good year for Norway Post

Posted by | Feb 26, 2007 | |

2006 was a good year for Norway Post. The Group’s preliminary accounts show earnings before tax of NOK 1.2 billion and a growth in revenues of 18.4 per cent compared to 2005.
Norway Post’s growth came from acquisitions and a high level of activity in the postal, logistics and ICT-services markets.

Norway Post’s revenue rose by 18.4 per cent to NOK 23.7 billion in 2006. The Logistics Segment experienced the most growth of all the segments with 70.5 per cent, following the acquisition of Frigoscandia, HSD Transport AS and the Johs Lunde Group’s refrigerated transport operations. The ICT segment’s revenues increased by 29.3 per cent after the acquisition of Allianse ASA. The Post Segment saw a 3.8 per cent drop in its revenues but positioned itself in 2006 for future growth by establishing CityMail in Denmark and expanding CityMail in Sweden.

The share of Norway Post’s revenues that came from foreign operations was 17.5 per cent in 2006, compared to 8.6 per cent in 2005.

The Group’s operating income (EBITDA) came to NOK 2,024 million in 2006, compared to NOK 2,694 million the year before. The decline compared to 2005 must be seen in light of the withdrawal of government procurements and lower revenues from banking services, totalling NOK 571 million. EBIT for 2006 came to NOK 1,313 million, compared to NOK 1,250 million in 2005.

The total letter volume rose by 4.1 per cent in 2006. The volume of addressed mail declined by 1.6 per cent, while unaddressed direct mail advertising increased by 8.8 per cent. The number of banking transactions via Norway Post’s sales network dropped by 7.9 per cent in 2006.

The Express Segment’s revenue rose by 12.1 per cent to NOK 4,245 million in 2006. The total parcel volume was 1.1 per cent less than in 2005, while the international parcel volume delivered by the PNL subsidiary rose by 15.2 per cent.
The Logistics Segment’s operating revenue increased by 70.5 per cent to NOK 6,925 million in 2006. The growth mainly came from the acquisitions of Frigoscandia, HSD Transport AS and the Johs Lunde Group’s refrigerated transport companies.
ErgoGroup’s operating revenue rose by 29.3 per cent to NOK 3,620 million in 2006. This growth was due to a large number of new contracts as well as the acquisition of companies, including Allianse ASA and AddIQ AB.

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Norway Post too slow

Posted by | Dec 29, 2006 | |

A test of Norway’s postal service Posten revealed that their service falls far short of requirements.

Posten’s license conditions demand that they deliver 85 percent of all post by the day after a letter is sent. A recent test of 342 letters showed that the company only manages to get half of letters sent to their destination on time, newspaper Nationen reports.

The newspaper’s test found that one of the letters went missing, one took a week to arrive, and only half made it to their target in Norway the next day.

The Posten’s information chief Robert Morberg had no excuses to offer.

“We apologize. This is not how it is supposed to be,” Morberg said.

Morberg said that the results were due to problems with changes resulting from the company having gone over to using their own freight planes, and that ongoing measures were steadily improving results.

Nationen carried out the test using 19 persons, a combination of mayors and associates of the newspaper, sending 19 letters to each other. Northern counties Finnmark and Nordland had the worst delivery record, with Askim and Oslo posting the best results.

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ErgoGroup buys SYSteam

Posted by | Dec 18, 2006 | |

Norway Post-owned ErgoGroup has today signed a contract to buy more than 90% of the shares in SYSteam’s operations in Sweden, Norway, Finland and Denmark. The remaining shareholders will receive an offer to sell their shares in the company to ErgoGroup. The total purchase price will be MSEK 1,100
SYSteam is the biggest IT company in Sweden’s SME market and the combined SYSteam/ErgoGroup will be a clear market leader as an IT service provider to the Nordic SME market.

SYSteam is owned by Bure Equity AS, which holds 46.2% of the shares, and by three founders (Arne Nilsson, Claes Rosengren and Stig-Olof Simonsson) who hold a total of 43.8% of the shares. The approximately 350 employees own the remaining 10%. Following negotiations with SYSteam’s main shareholders, ErgoGroup has bought more than 90% of the shares and hereby announces that it will make the mandatory offer to buy the remaining shares in the company. ErgoGroup thus wishes to acquire all of SYSteam’s operations in Sweden, Norway, Finland and Denmark with effect from 1 January 2007. The value of this transaction is MSEK 1,100.

The operations that are now being taken over by ErgoGroup comprise a portfolio of around 3,800 customers, are expected to achieve revenues of MSEK 1,400 in 2006 and have around 1,030 employees in around 50 offices in the Nordic region.

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Profitable growth for Norway Post

Posted by | Oct 30, 2006 | |

Norway Post’s operating revenues have grown by 19 per cent to NOK 17,009 million as of 30 September 2006. The earnings before income and taxes (EBIT) came to NOK 839 million, NOK 156 million less than at the same time last year as a result of the termination of government procurements and a reduction in revenues from banking services.
”The results show that we are following our strategy of achieving profitable growth in the Nordic region. Norway Post is further developing its operations in the fields of mail, logistics and ICT in the Nordic region in order to compensate for the decline in A-priority and B-economy post and banking transactions,” says Group CEO Dag Mejdell of Posten Norge AS.

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