Postnord (PN) investor relations material

Executive summary

• Net sales increased to SEK 9,223 million in Q2 2026, driven by parcel and logistics growth, while EBIT was negatively impacted by the closure of the national mail business in Denmark, ending synergies with the parcel business.

• Parcel volumes rose 9% year-over-year, while mail volumes declined by 18% due to structural changes and regulatory shifts.

• Most other operating segments showed positive development, with regulatory changes in Sweden supporting the mail business.

• Investments continued in capacity, technology, and sustainability, including a new parcel terminal in Timrå and expansion of the parcel locker network.

Financial highlights

• Net sales rose to SEK 9,223 million from SEK 8,843 million year-over-year.

• Operating income (EBIT) was SEK 189 million, down from SEK 262 million; adjusted EBIT was SEK 239 million, compared to SEK 291 million.

• Net profit for the period was SEK 75 million, down from SEK 166 million.

• Cash flow from operating activities was SEK 647 million, compared to SEK 863 million.

• Net debt/EBITDA improved to 1.0x from 1.3x year-over-year.

Outlook and guidance

• Regulatory changes in Sweden are expected to provide better conditions for the mail business, allowing more flexibility in delivery and supporting sustainable operations.

• The closure of Denmark's national mail business will continue to affect EBIT until full transition is achieved.

• Focus remains on strengthening parcel and logistics businesses, especially in Denmark post-mail discontinuation.

• Continued investments in automation, capacity, and sustainability to support long-term growth.