Itella Corporation’s results January-March 2008: Increases in wage costs reduce profitability
22.04.2008
Itella Corporation’s results January-March 2008:
- Consolidated net sales for January-March totalled EUR 447.4, up by 3.7 per cent. International operations represented 26 per cent of net sales.
- Year-on-year, consolidated operating profit decreased by 27.5 per cent, to EUR 33.3 million. EBIT margin dropped to 7.4. Profitability weakened due to the brisk increase in work force expenses resulting from last autumn's collective labour agreements and Easter occurring in March.
- Letter distribution volumes remained stable.
- Itella Mail Communication acquired DH Tools Oy, a company offering enterprise marketing management services.
- Itella Information and Norway Post announced plans to establish a joint venture under the name Itella Information AS.
- Itella Logistics acquired Kauko Group Oy, specialising in international transport services, and the Swedish company Hansar Logistics AB.
|
Itella's key figures |
Q1/2008 |
Q1/2007 |
2007 |
|
Net sales, EUR million |
447.4 |
431.5 |
1 688.3 |
|
Operating profit (EBIT), EUR million |
33.3 |
45.9 |
101.8 |
|
EBIT margin |
7.4 |
10.6 |
6.0 |
|
Profit before income tax, EUR million |
35.3 |
48.2 |
109.5 |
|
Return on equity, % |
9.7 |
10.8 |
11.1 |
|
Return on investment, % |
13.7 |
15.1 |
15.6 |
|
Equity ratio, % |
64.1 |
63.1 |
65.9 |
|
Gearing, % |
-16.5 |
-24.6 |
-36.4 |
|
Employees, on average |
25 278 |
24 787 |
25 623 |
|
Investments, EUR million |
30.7 |
16.1 |
94.2 |
For further information, please contact:
Jukka Alho, President and CEO, tel. +358 (0)20 451 5600, firstname.lastname@itella.com
Tuija Soanjärvi, CFO, tel. +358 (0)20 45 20907, firstname.lastname@itella.com
www.itella.com/group/english
Appendices
Board of Directors' Report
Consolidated Income Statement and Balance Sheet