Posten Bring has revealed it handled over 100 million parcels in one year for the first time ever in 2023, with volumes from online shopping increasing by 8.4% on 2022 figures.
The post’s 4th Quarter Report 2023 also reported a significant NOK 965m (US$91.7m) increase on 2022 turnover to NOK 24.3bn (US$2.31bn) last year, and operating profits of NOK 716m (US$68m), a year-on-year rise of NOK 310m (US$29.4m).
Tone Wille, CEO of Posten Bring, commented, “2023 has been characterized by market unrest, high inflation and increased interest rates, which has dampened consumption. Nevertheless, we have succeeded in good growth, especially in parcels from online shopping, and can show increased income and a better result than the previous year.”
Turnover in the logistics sector reached NOK 19.4bn (US$1.84bn), an increase of NOK 517m (US$49.1m) compared to 2022. However, operating profits fell NOK 51m (US$4.85m) year on year to NOK 689m (US$65.5m).
The postal segment increased revenue in 2023 by NOK 437m (US$41.5m) compared to 2022 and operating profit was up NOK 326m (US$31m) to NOK 294m (US$27.9m) last year.
According to Posten Bring, the positive earnings development was, among other things, driven by profitable import volumes and currency effects within addressed mail, increased volume for the Norgespakken and increased productivity, which has led to lower costs in the network.
For letter mail, the delivery quality in the fourth quarter was 89.4%, which is well above the license requirement of 85% within three days. The volume of addressed mail fell by 12.6% in 2023 compared to the previous year. Letter volumes have fallen by over 80% since the turn of the millennium.
In January 2024, the government appointed an expert committee to look at the future of postal services and whether Posten should be given new tasks to meet societal needs other than postal distribution alone. The committee must submit its recommendation within one year.
Posten Bring also reported a milestone it its environmental work for 2023, with 50% of the group’s vehicles now using renewable energy sources. At the end of 2023, the group had 2,972 vehicles that used fossil-free energy sources. More than half of Norway’s inhabitants now receive mail and parcels delivered by electric vehicle.