National mail carrier Omniva 2023 loss comes to €1.3 million
In 2023, the Omniva group's total revenue was €131.7 million, marking a 7 percent increase from the previous year. The group's pre-tax net profit was in the black. However, due to income tax expenses associated with dividends paid out over the year, amounting to more than €6 million, the net loss was €1.3 million euros.
Of the total revenue, €79.1 million, or 60 percent, came from parcel services, €28.1 million, or 21 percent, from postal services (including €12.6 million, or just under 10 percent, from universal postal services), and €21.2 million, or 16 percent, from international transit services.
Estonian customers accounted for 41 percent of sales revenue.
The company noted that the main costs are associated with the provision of traditional postal services. Both traditional letter services and periodical delivery costs had a significant negative impact on operating profit. "To cover the losses of the traditional postal business, Omniva continues to make efforts to expand the profitable parcel services business, which we provide throughout the Baltics, and the international transit business as far as possible," Omniva's statement read.
Mart Mägi, the CEO of Omniva, acknowledged that the revenue from the holiday period in the fourth quarter was below expectations. "Purchases made in e-commerce were more evenly distributed compared to last year, and the pre-Christmas surge in volumes was smaller than last year."
In the fourth quarter, Omniva opened seven renovated post offices in Estonia. A total of 80 new parcel machines were installed across all Baltic countries.
Omniva (AS Eesti Post) is an Estonian state-owned company whose main activities are logistics (parcel and postal services), digital, and international transit services.
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Editor: Mirjam Mäekivi, Marcus Turovski
