Transcript PowerPoint-presentasjon

Norway Post
Results as of first quarter 2014
1
Highlights – Important events in the first quarter 2014

Acquisition of all the shares in West Cargo
Vårgårda AB

Bring Citymail Sweden AB established a joint
venture with the distribution unit in the Swedish
newspapers in the Schibsted and Bonnier-groups

In March Digipost won the contract to deliver
digital mailboxes to the public sector

110 post offices was replaced by new Post in
Shops as of first quarter 2014. The conversion is
according to plan

Sick-leave of 7.2% in the first quarter 2014 and
6.5 % last 12 months, a reduction of 0.4%-point
from 2013

Delivery quality for A mail delivered overnight of
87.1% in Q1, 1.6 %-points above last year
2
Financial highlights - first quarter 2014

Operating revenues:
MNOK 6 072, up 6% from 2013

Earnings before interest and taxes*:
MNOK 191, up 30.8% from 2013

Return on invested capital (last 12
months)*:
17.5 %, up 1.6%-point from 2013

Delivery quality for A-mail in 2014:
87.1% , up 1.6%-point from 2013
* Before non-recurring items and write-downs
3
Operating income
(in MNOK)
MNOK
25.000
23 940
22 613
22 451
22 981
22 925
23 557
Q1
20.000
15.000
17 827
10.000
5.000
5 730
6 072
2013
2014
0
2008
2009
2010
2011
2012
4
Earnings (EBIT) before non-recurring items and write-downs
(in MNOK)
MNOK
1 116
1 125
Q1
1 051
1.000
952
772
979
500
275
146
191
2013
2014
0
2008
2009
2010
2011
2012
5
Operating income from foreign companies
Operating income in MNOK
MNOK
8.000
7 189
7.000
6 443
5 871
6.000
5 855
6 434
5 959
4 886
5.000
5 439
3 967
4.000
3.000
2.000
Operating income from foreign
companies accounted for 32.8%
of the Group's total operating
income, up 2.3 percentage points
from last year.
1 658
1.000
1 750
1 993
2013
2014
0
2005
2006
2007
2008
2009
2010
2011
2012
Q1
6
Results
MNOK
Operating revenues
Q1 2014
Q1 2013
Year
Change
2013
6 072
5 730
342
23 557
EBITDA
385
333
52
1 875
EBIT before non-recurring items and write-downs
191
146
45
1 125
Write-downs
Non-recurring expenses/(income)
EBIT before share of profit from associates
Share of profit from associates etc
EBIT
Net financial items
Earnings before tax
Taxes
Profit after tax
245
-3
1
4
218
194
145
49
662
27
1
26
-22
220
146
74
641
-28
-16
-12
-22
192
129
63
619
51
39
12
108
142
90
52
512
7
Norway Post's Segment Structure
group
mail
logistics
8
Segment distribution of external revenues
Change 2013 - 2014 in MNOK and %
Percentage of external revenues in %
9.7%
60%
58%
40%
42%
Q1 2014
Q1 2013
320
0.9%
21
Mail
Logistics
9
Segment Post
mail
logistics
Letter Products
Banking services
Dialogue services
10
mail
Key figures
logistics
Operating income
2,900

2,800
2,700
2 710
2 629
2,500
Q1 2011 Q1 2012 Q1 2013 Q1 2014
Growth
(%)
-0.2
-2.9

500
400
421
372
333
Q1 2011 Q1 2012 Q1 2013 Q1 2014
15.5
Volume decrease last 12 months unaddressed
mail 4.1 %

Despite volume decrease, operating revenues
in first quarter were in line with the same
quarter last year
Operating result before depreciation and nonrecurring items were MNOK 333 in first quarter
2014, 10.5% behind corresponding period 2013
14.1
Positive effect of cost-reduction measures
only partly compensated for the volume
reductions

Year to date 110 post offices were converted to
Post in Shops

Bring Citymail Sweden AB established a joint
venture with the distribution unit in the Swedish
newspapers in the Schibsted and Bonnier-groups

Considerable focus on digital solutions in both
public sector and in unaddressed advertising
300
15.6


423
350
EBITDAmargin (%)
Volume decrease last 12 months addressed
mail 5.4 %
0.0
EBITDA
450

2 628
2 706
2,600
Operating revenues were MNOK 2 628 in first
quarter 2014, in line with corresponding period
2013
12.7
11
Segment Logistics
mail
logistics
Parcels
Express
Cargo
Frigo
Warehousing
Supply Services
12
mail
Key figures
Operating revenues
4,000
3,900
3,800
3,700
3,600
3,500
3,400
3,300

3 867
3 558
3 483
logistics
Operating revenues were MNOK 3 867 in first quarter
2014, 8.7% higher than corresponding period 2013

Organic growth and acquisitions

Growth in private e-commerce market

Part-load cargo – increased volumes but price
reductions
3 557
Q1 2011Q1 2012Q1 2013Q1 2014
Growth
(%)
2.2
0.0

8.7
EBITDA
150
107
110
107
100
50
27
0

Q1 2011Q1 2012Q1 2013Q1 2014
EBITDAmargin %
3.1
3.1
0.8
Operating result before depreciation and non-recurring
items were MNOK 111 in first quarter 2014, MNOK 84
higher than corresponding period 2013

Positive effects of cost measures

Improved profit within parcels and freight,
offshore and linehaul business areas in Norway,
as well as express and parcel operations in
Sweden

Challenging market conditions in Sweden and
Denmark
Acquisition of all shares in West Cargo Vårgårda AB
strengthens the position in the Nordic market
2.8
13
Future prospects

Acquisitions and organic growth shall
strengthen Norway Post’s position as one of
the leading logistics suppliers in Sweden

E-commerce market grows and new
solutions and concepts are being developed

More delivery sites – Norway Post invests in
parcels depot and customers can receive
parcels in more locations

Services are simplified to meet customers'
desire for easier and more environmentally
friendly solution

Digipost victory – good position for Norway
Post to distribute mail to the entire
Norwegian people
14