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1. Operating segments

 

Itella Group's operating segments consist of three operating segments: Itella Mail Communications, Itella Logistics and OpusCapita. Itella Group's operating segments are based on the various services and products they offer, which is why they are managed as separate entities. The President and CEO is the chief operating decision maker, responsible for allocating resources to operating segments and the evaluation of the segments' results. The operating segments are also reporting segments.

 

Other operations and unallocated items consist of centralized Group functions supporting the business, and of investment properties. Unallocated items include tax and financial items, as well as corporate items.

 

In internal management reporting, the segments' performance assessment is based on the operating result and return on invested capital. Items allocated to the segments include non-current and current operating assets and liabilities, including non-interest bearing liabilities and provisions. Operating items are items the segment uses in its operations or that may be reasonably allocated to the segments. Investments consist of additions of non-current tangible and intangible assets.

 

The valuation and accrual principles used in the internal management reporting are IFRS-compliant. Inter-segment sales are conducted at market prices.

 

Itella Mail Communications














               

Itella Mail Communications’ main mission is to offer multi-channel postal services related to sending and receiving mail, staying in touch with friends and family, contact information management and doing business. For businesses, Itella Mail Communications provides and develops new services for marketing. Itella Mail Communications has operations in Finland and Estonia.

 

Itella Logistics














               

Itella Logistics supports and develops the business of its customer companies by providing them with service logistics solutions for road, sea and air freight, warehousing and other contract logistics. Customers may outsource an individual element of their logistics process, or even their entire supply chain, to Itella Logistics. Itella Logistics has operations in eight countries and it provides global services through its partners.

 

OpusCapita














               

OpusCapita provides streamlining financial processes through automation solutions and business process outsourcing solutions. The aim is to help clients create even more efficient and high-quality business operations. OpusCapita has over 10,000 customers in Europe, and the solutions are used in over 50 countries. OpusCapita has operations in nine countries.

 






Other


Itella


opera-


Mail Itella
Seg- tions

2013 Commu- Logis- Opus ments and un- Elimi- Group
EUR million nications tics Capita total allocated nations total
External sales 1,100.7 626.9 249.2 1,976.8

1,976.8
Inter-segment sales 59.4 215.4 14.2 289.1 60.5 -349.7 0.0
Net sales 1,160.2 842.3 263.4 2,265.9 60.5 -349.7 1,976.8








Share of associated companies' results - 0.0 0.0 0.0 - - 0.0








Operating result 64.1 -45.9 17.0 35.1 -25.2 - 9.9








Financial income and expense - - - 0.0 -12.3 - -12.3
Profit/loss for the period before taxes





-2.4








Shares in associated companies - 0.3 0.0 0.4 - - 0.4
Assets 482.7 587.3 172.6 1,242.6 210.0 -37.0 1,415.6
Non-current assets classified as held for sale - - - 0.0 - - 0.0
Liabilities 266.5 120.2 42.7 429.4 367.5 -37.0 759.8
Liabilities associated with non-current assets classified as held for sale - - - 0.0 - - 0.0








Capital expenditure 30.9 18.8 3.7 53.4 7.7 - 61.1
Depreciation and amortization 36.4 42.2 7.2 85.8 6.3 - 92.1
Impairment losses 3.3 21.0 - 24.3 - - 24.3
Personnel at period-end 16,706 6,670 2,121 25,497 380 - 25,877





















Other


Itella


opera-


Mail Itella
Seg- tions

2012 Commu- Logis- Opus ments and un- Elimi- Group
EUR million nications tics Capita total allocated nations total
External sales 1,113.0 575.6 257.9 1,946.5 0.2
1,946.7
Inter-segment sales 54.6 205.9 12.2 272.7 62.9 -335.6 0.0
Net sales 1,167.6 781.5 270.1 2,219.1 63.1 -335.6 1,946.7








Share of associated companies' results
0.0 0.0 0.0

0.0








Operating result 74.0 -9.5 -1.1 63.4 -24.4
39.0








Financial income and expense



-8.3
-8.3
Profit/loss for the period before taxes





30.8








Shares in associated companies
0.4 0.0 0.4

0.4
Assets 464.3 689.7 179.0 1,333.0 202.7 -36.7 1,499.0
Non-current assets classified as held for sale 10.7

10.7

10.7
Liabilities 271.4 148.7 47.3 467.4 389.8 -36.7 820.5
Liabilities associated with non-current assets classified as held for sale 0.5

0.5

0.5








Capital expenditure 26.8 90.4 5.8 123.0 11.7
134.7
Depreciation and amortization 34.1 38.9 8.7 81.7 6.3
88.0
Impairment losses


0.0 1.4
1.4
Personnel at period-end 17,844 7,391 2,168 27,403 413
27,816








Geographical areas














               

Itella Group operates in four geographical areas: Finland, Scandinavia, Russia and the Baltic countries, and other countries. Segment net sales are determined by the geographical location of the Group's customer. Assets are presented according to their geographical location, and they include non-current assets except Group goodwill, deferred tax assets and financial instruments. Finland is the only individual country that generates a material part of the Group's net sales. Itella’s customer base consists of a large number of customers over several market areas, therefore the sales to a single customer does not make up a significant part of Itella’s net sales.

 






Russia






and the






Baltic Other
2013


Scan- count- count-
EUR million

Finland dinavia tries tries Total
Net sales

1,410.6 235.9 238.6 91.6 1,976.8
Non-current assets

476.8 23.8 211.9 1.7 714.3













Russia






and the






Baltic Other
2012


Scan- count- count-
EUR million

Finland dinavia tries tries Total
Net sales

1,333.9 263.2 239.4 110.2 1,946.7
Non-current assets

504.3 38.8 249.7 2.9 795.6