Outlook for 2024
Posti adjusted its outlook for 2024 in Q3 2024 Interim Report on October 25. Net sales are expected to decrease from the previous year. The Group’s adjusted EBITDA is expected to increase from the previous year (previously it was communicated that net sales and adjusted EBITDA is expected to be on the previous year’s level).
The new outlook states:
Posti is expecting its net sales to decrease from the previous year. The Group’s adjusted EBITDA is expected to increase from the previous year. In 2023, Posti’s net sales were EUR 1,586.1 million and adjusted EBITDA was EUR 197.7 million.
Current macroeconomic and market conditions bring uncertainty to economic projection and consumer confidence. Consumer behavior affects Posti's business and may further impact our actual results.
The Group’s business is characterized by seasonality. The net sales and adjusted EBITDA in the segments are not accrued evenly over the year. In consumer parcels and Postal Services, the first and fourth quarters are typically strong, while the second and third quarters are weaker. The postal volume decline is expected to continue.
Financial targets
Posti Group Corporation's financial targets are:
Adjusted EBITDA percentage 13%
Net debt / Adjusted EBITDA less than 2.5x
Continuously increasing ordinary dividend, but not exceeding annual net profit