Strong result for logistics company PNL
Pan Nordic Logistics AB (PNL), owned by Post Denmark and Norway Post, showed its strength in 2004 on a turbulent parcel market and achieved a very fine result in 2004. The annual gross profit was 57 mill. SEK an improvement of 64 mill. SEK compared with last year, and PNLs best profit development ever.

PNLs success is due to several activities realized during 2004. One of these was the launch of the ReturnService products, which are a strong contribution to PNLs competitive CarryOn-portfolio on the parcel market. In 2004 PNL also managed to reduce the costs per parcel drastically through a strong and enhanced efficiency of the production system in Sweden. A stronger position on the Finnish marked and a cooperation agreement with the Estonian Postal Service further strengthened PNLs position on the Nordic parcel marked. Furthermore an intensive IT-project was launched for the implementation of a transport management system (TMS) in the spring 2005. Hereby, PNL will be able to offer their customers an even better quality and service.

- It is a very satisfactory result with a strong net sales, especially as we in 2002 lost 560 mill. SEK of the revenue due to Posten Swedens withdrawal as an owner. We have now succeeded in regaining the revenue. Better management of the distribution network in Sweden and the strengthening of our product portfolio CarryOn have also contributed in improving the positive development. We now have the same volume level and revenue as in 2002, Benny Rhe Hansen, CEO of PNL announces.

2005 is expected to be an exiting year for PNL. PNL will focus on further acceleration of the development in Finland and Sweden. The large European market with parcel distribution in the Nordic region is another focus area. PNL - with its strong Nordic distribution network - is an attractive partner for international companies with parcel distribution in the Nordic region. Also the product portfolio is extended with even more favourable services for the customers. In summary, PNL expects a continuously positive development in 2005 with increasing revenue.

- Through our strong result we are ready to continue our acceleration and positive development and follow our vision to become the leading Nordic logistics company on the parcel market, says Benny Rhe Hansen, CEO.

More information
Jeanette Jørgensen, Vice President Information
T +45 70 28 60 26
M +45 21 70 81 70

About PNL
Pan Nordic Logistics (PNL), established in 1997, has the most comprehensive distribution network in the Nordic region, which can reach every business and consumer in the region. Today, we can assist anyone in the Nordic countries to send and receive parcels and pallets within the region and to the rest of the world.

PNL is owned by the Danish and Norwegian postal companies, and works closely with the postal companies in Estonia, Finland, Faroe Islands, Greenland, Iceland and Sweden. Our Head Office is in Sweden. We have a total of 140 employees in Denmark, Finland, Norway and Sweden. Our annual turnover is approximately SEK 1 billion.