Business environment and strategy
The economic situation in Russia remained challenging throughout the year. Net sales were negatively impacted by the general weak economic situation as well as lower demand for air and sea freight, and lower warehouse processing volumes. Nevertheless, our warehouse fill rate was at a good level. During the year, we were also successful in acquiring new customers as well as reacquiring old customers.
Many European companies exited the Russian market in 2015. For us at Posti, however, Russia remains a key market alongside Finland. Due to the economic situation in Russia, our business unfortunately involves a degree of uncertainty, and we are unable to predict when the Russian market will turn to growth. In the long run, Russia remains an attractive market for logistics and eCommerce services.
While the Russian economy is contracting, eCommerce is still growing. Russia is among the ten largest consumer eCommerce markets in the world. This offers us new business opportunities.
In line with our strategy, the sectors we focus on include fast-moving consumer goods, the pharmaceutical industry, the automotive industry, electronics, fashion, and mechanical engineering.
Our aim is to be the market leader in contract logistics, a strong player in road, air and sea freight, a leading operator in last-mile delivery in B2B and B2C shipments, and one of the key facilitators of eCommerce. We develop transports between countries using smaller transport units, and we also develop the terminal network. We are a significant logistics operator in Russia. We create solutions that enable shopping for goods online.