January–June 2012
- Itella Group’s net sales in January–June amounted to EUR 958.5 (932.6) million. Net sales grew by 2.8%, with growth evident in all business groups.
- Performance improved clearly: operating result before non-recurring items amounted to EUR 28.7 (-3.8) million, or 3.0% (-0.4%) of net sales.
- Operating result before non-recurring items grew to EUR 36.0 (10.3) million in Itella Mail Communications, EUR -3.5 (-8.8) million in Itella Logistics, and EUR 5.8 (3.9) million in Itella Information.
- Operating result in the first half grew from the year before and came to EUR 18.0 (-4.1) million, representing 1.9% (-0.4%) of net sales. The period’s performance was weighed down by non-recurring items to the amount of EUR 10.7 (0.3) million.
April–June 2012
- Itella Group’s net sales in April–June amounted to EUR 473.2 (469.7) million. Net sales (+0.7%) in Itella Mail Communications remained on the same level as a year ago, while increasing in Itella Logistics and Itella Information.
- Operating result before non-recurring items grew to EUR 5.9 (-4.4) million, or 1.2% (-0.9%) of net sales.
- Operating result before non-recurring items grew to EUR 10.7 (4.8) million in Itella Mail Communications, EUR -1.8 (-3.7) million in Itella Logistics, and EUR 2.5 (-0.8) million in Itella Information.
- Operating result in the second quarter improved from the previous year and came to EUR -3.1 (-4.7) million, representing -0.7% (-1.0%) of net sales. The period’s performance was weighed down by non-recurring items to the amount of EUR 9.0 (0.3) million.
- At the end of May, Itella Corporation and VR-Yhtymä Oy signed a letter of intent where Itella Logistics will acquire VR Transpoint’s groupage logistics business in Finland.
| Key figures of Itella Group | 4-6/2012 | 4-6/2011 | 1-6/2012 | 1-6/2011 | 2011 |
| Net sales, MEUR | 473.2 | 469.7 | 958.5 | 932.6 | 1,900.1 |
| Operating result (non-IFRS), MEUR *) | 5.9 | -4.4 | 28.7 | -3.8 | 30.5 |
| Operating result (non-IFRS), % *) | 1.2 | -0.9 | 3.0 | -0.4 | 1.6 |
| Operating result, MEUR | -3.1 | -4.7 | 18.0 | -4.1 | -5.9 |
| Operating result, % | -0.7 | -1.0 | 1.9 | -0.4 | -0.3 |
| Result before taxes, MEUR | -5.7 | -6.4 | 13.6 | -8.8 | -16.4 |
| Result for the period, MEUR | -7.5 | -8.5 | 4.2 | -14.2 | -30.7 |
| Return on equity, %, 12 months | -1.8 | -0.6 | -4.5 | ||
| Return on investment, %, 12 months | 2.0 | 2.4 | -0.2 | ||
| Equity ratio, % | 47.0 | 49.6 | 46.1 | ||
| Gearing, % | 22.0 | 21.7 | 22.1 | ||
| Gross capital expenditure, MEUR | 23.2 | 12.7 | 45.2 | 23.8 | 102.9 |
| Employees on average | 27,660 | 29,216 | 27,431 | 28,753 | 28,493 |
*) Non-IFRS = excluding non-recurring items
Jukka Alho, President and CEO:
”Itella’s January–June net sales clearly increased and performance improved in comparison to the corresponding period in 2011. Net sales increased in all business groups. Following a strong first quarter, the growth during the second quarter was slightly less robust, in line with normal seasonal fluctuation.
Given that the overall economic situation became increasingly uncertain in the second quarter, the result of the first half of the year can be considered satisfactory at the very least.
In Itella Mail Communications, we increased volumes in both unaddressed deliveries and the parcel business, despite a tough competitive environment. In contrast, the volumes of addressed letters and newspapers and magazines continued to decline. In this respect, the forceful efforts to increase efficiency have been absolutely necessary.
At the end of May, Itella Corporation and VR-Yhtymä Oy signed a letter of intent on the acquisition of VR Transpoint's domestic groupage logistics business. After the final contract, the approval from the competition authorities is required.
As mentioned in our interim report for the first quarter, we had identified a need for change in our German printing services. The ensuing separation from the printing services has now been concluded and our German operations are focused on the expansion of financial management services.”
APPENDICES
Itella’s full Interim Report
FURTHER INFORMATION
Sari Helander, CFO, tel. +358 50 379 1819, sari.helander@itella.com
DISTRIBUTION
NASDAQ OMX Helsinki
Key media
www.itella.com/financials
FINANCIAL CALENDER 2012
Interim Report Q3/2012 October 31
PHOTOGRAPHS AND LOGOS
www.itella.com/media
Itella Group provides solutions for managing information and product flows. Itella operates in mail communication, logistics and financial processes in Europe and Russia. In 2011, the Group reported net sales of EUR 1 900 million and employed 27,500 professionals. www.itella.com/aboutus.
