In an 8-K filed on July 1st, SkyPostal Networks announced that it has agreed with Deutsche Post’s DHL Global Mail to extend their current partnership. The new contract will allow SkyPostal to expand its service offering to Europe, which may further increase revenues.
SkyPostal already has a foothold in the LAC due to the acquisition of Spring Global Mail Latin America in August 2007. This acquisition resulted in the creation of the largest private mail service network in Latin America and the Caribbean. The company handles mail from European postal administrations, major publishers, financial institutions, and international mailers that require adherence to time-defined deliveries. Currently, SkyPostal has exclusive agreements with over 20 major private postal services for delivery throughout the LAC, and handles over 25 million pieces of mail per month.
Recently SkyPostal announced financial results from its Q1 2008 operations. Sales for the first quarter were reported at $2,440,801, which is a 40 percent increase over the same period in 2007, where sales were $1,747,765. The reported numbers indicate improved total operating margins from 17 percent in 2007 to 24 percent in 2008. EBITDA numbers also indicated an 11 percent increase.
President and CEO Albert Hernandez said, “We are continuing to execute and improve upon our business model, and we believe that the company will continue to aggressively grow its revenue and efficiencies in 2008. Our management team has done an extraordinary job positioning the Company to continue increasing its penetration in the industry. Simultaneously, they have created a powerful entrepreneurial spirit to enable the company to generate strong revenue and net income growth while providing the best service possible.”
More information on DHL Global Mail: http://www.dhl-globalmail.com/dpgm?tab=1&skin=hi&check=yes&lang=en&xmlFile=195
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