Francotyp-Postalia Holding AG Sells freesort GmbH and Updates 2024 Forecast

Francotyp-Postalia Holding AG has entered into a share purchase agreement with Max Ventures Management GmbH for the sale of all shares in freesort GmbH. The transaction, valued in the upper single-digit million range, is set to close today.

freesort GmbH, a provider of franking and mail services, generated EUR 66.8 million in revenue and EUR 2.1 million EBITDA in 2023. The sale is part of FP Group's strategy to focus on Mailing & Shipping Solutions and Digital Business Solutions, driving its transformation forward.

Consequently, Francotyp-Postalia has revised its 2024 forecast. Group revenue is now expected to decrease by up to 32% from the prior year's EUR 241.8 million, and EBITDA could fall by up to 26% from last year's EUR 31.0 million.