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Omniva’s financial results for the first quarter were affected by the war in Ukraine
The Omniva Group’s turnover and profit for the first three months of this year fell short of expectations. The result was affected by the start of the war in Ukraine as well as rising energy and fuel prices.
The operating income of the Group was 31.5 million euros in the first quarter, decreasing by 22 per cent compared to the same period last year. Revenues from international transit and logistics services decreased the most. The Group earned an operating profit of 401 000 euros in the first three months, which was lower than expected.
According to Mart Mägi, Chairman of the Management Board of Omniva, the financial performance of the company was strongly affected by Russia’s military aggression in Ukraine. In addition, Omniva joined the international sanctions and stopped the delivery of periodicals from Russia in Estonia, and also suspended Western Union transactions with Russia and Belarus. ‘Economic performance was primarily affected by the decrease and absence of international trade due to the war. Prolonged journeys of international shipments and the resulting increase in costs as well as higher fuel and energy prices also had a significant impact,’ said Mart Mägi. ‘However, we can see that from April onwards, a gradual recovery of business is expected due to new destination countries.’
In the first quarter, the operating expenses of the group were 31.1 million euros in total, decreasing by 3 per cent compared to the same period last year. The decrease in direct costs is related to the decrease in the volume of international shipments, while labour costs increased due to the wage increase of primary-level workers in the middle of last year.
At the beginning of the year, the provision of domestic services was affected by difficult winter weather conditions and restrictions caused by the COVID pandemic and the illness of employees, to which the company quickly adapted and reorganised its operations and dispersed deliveries to provide services across Estonia.
The company’s focus is to move closer to the customer and therefore, Omniva is working closely with local governments to develop the best service arrangements for local residents. Omniva’s market share in the Estonian parcel machine market has remained stable, showing a slight increase compared to the beginning of the year, and reached 45 per cent in March, according to the Estonian E-Commerce Association. At the end of March, the first virtual parcel delivery service was opened on the island of Vormsi to receive parcels on the island. Ten new electric cars were introduced to provide environmentally friendly services.
As a significant investment of the Group, it was decided to build a new modern sorting center in Lithuania with a size of 20 thousand m2 in order to increase the capacity to provide international services and ensure a high level of service. The sorting center will be established in the Kaunas Free Economic Zone and will allow sorting up to 12 thousand parcels per hour. The center will be completed in the autumn of 2023.
Omniva supported Ukraine through a number of activities. From mid-March, in cooperation with the national postal service of Ukraine, a new service is offered to private individuals for sending humanitarian aid to Ukraine free of charge. Omniva provided charities and institutions with free transportation of humanitarian aid collected for Ukraine. One month after the start of the war in Ukraine, Omniva released a new postage stamp ‘Glory to Ukraine!’, and nearly 20,000 copies have been sold in a month.
These are unaudited data for the first quarter of the 2022 annual report.
AS Eesti Post is a 100% state-owned company, the main activity of which is the provision of postal and logistics services (parcel and postal services), digital services, and international transit services. The main activity of SIA Omniva and UAB Omniva LT is the provision of parcel machine and courier services in the Latvian and Lithuanian markets. UAB Omniva LT Sorting was established for the construction of a new logistics centre in Kaunas. The main area of activity of OÜ Finbite is information business services (e-invoices). AS Maksekeskus provides payment solutions to e-commerce companies in the Baltics. OÜ Post11, an affiliated company of Omniva, offers e-merchants comprehensive international logistics solutions for the delivery of goods all over the world. The group employs 2,472 employees across the Baltics.
News list
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27.09.2023In a joint campaign by Eesti Pank and Omniva, more than one million coins are likely to have been returned by Wednesday evening.
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19.09.2023Eesti Pank and Omniva launched a campaign to collect one million coins at the Järve post office in Tallinn and the Kvartal post office in Tartu. During the project, people can exchange their accumulated euro coins.
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13.09.2023The personal parcel boxes of Parcelsea, where parcels can be left by all courier companies, grocery stores that deliver to home, and private persons, will be called Picapac.
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05.09.2023As of September 5th, Kastytis Valantinas from Lithuania starts working as the member of the management board and Chief Operating Officer of Omniva.
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31.08.2023The sales revenue of the Omniva group in the first half of the year grew by 5 per cent and the parcel revenue by 11 per cent.
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21.08.2023
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01.08.2023
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23.05.2023With the transaction, Omniva will acquire 700 smart parcel boxes.
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22.05.2023
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19.05.2023
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10.05.2023Omniva started working with the Norwegian company Paxster AS to test the suitability of environment-friendly electric vehicles for mail delivery.
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03.05.2023For security reasons, as of 5 June it will not be possible to create a new account or log in to an existing account with a username and password in the Omniva self-service.
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29.03.2023Omniva and Ukrposhta renewed the partnership agreement to strengthen and grow cooperation.
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27.03.2023The postal and logistics company Omniva has announced a procurement to expand its logistics centre.
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28.02.20232022 was a year of challenges, investment, and rapid development for Omniva, both in the domestic market of the Baltics and internationally.
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07.02.2023Omniva and Asendia, a joint enterprise of the national postal service companies of France (La Poste) and Switzerland (Swiss Post), concluded partnership agreement to help online retailers expand their sales on established and emerging markets.
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05.12.2022In December and at the beginning of the new year, Omniva will open eight post offices of the future, where customers will have everything they need in terms of e-commerce and postal services.
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10.11.2022Omniva’s 1,000th parcel machine in the Baltics was opened yesterday in Vilnius.
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31.10.2022The financial results of the Omniva Group in nine months were below the results of 2021.
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21.10.2022Omniva is investing in its network and this year and next year a total of 267 parcel machines will be replaced and installed across the Baltics.
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18.10.2022On 18–20 October, Omniva will be attending the Parcel+Post Expo in Frankfurt, Germany, where leading companies from the e-commerce logistics and postal industry from around the world will meet.
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12.10.2022Starting from September, Omniva provides a return service for goods to merchants for their physical and online stores in all Baltic countries.
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09.10.2022Omniva was awarded the title of ‘Rising Star in Postal Development’ by the Universal Postal Union.
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30.09.2022From Monday, October 3 you may submit an application at an Omniva post office to subscribe to or opt out of the universal electricity service of Eesti Energia.
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28.09.2022In the recently published BRAND CAPITAL research of the most loved brands in the Baltics, Omniva was valued as the fastest growing and among the three most valued brands.
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01.09.2022
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26.08.2022From 1 September, sending a humanitarian aid parcel to Ukraine from a private person to a private person will cost 90 cents per kilogramme.
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02.08.2022The new development will apply to customers in all three Baltic states.
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27.07.2022Residents of Kihnu and Ruhnu will now be able to order their e-shop purchases to the island, as Omniva will start offering a virtual parcel delivery service from 1 August.
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21.07.2022The scam letters are designed to steal your identity or gain access your bank details and money.
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04.07.2022Omniva, which operates the largest parcel machine network in the Baltics, will invest over 40 million euros in building the most modern parcel sorting centre of the region in the Kaunas Free Economic Zone.
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01.07.2022Today, Omniva and other shareholders finalised the sale of Maksekeskus to Luminor Bank, a new strategic investor.
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20.06.2022Omniva has Upside-down Christmas campaign, lasting until 26 June.
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17.06.2022Omniva, the Trade Union PRO (PRO), and the Estonian Transport and Road Workers’ Trade Union (ETTA) have entered into an agreement, pursuant to which on 1 July, the wages of more than 800 primary-level workers will increase.
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17.06.2022Omniva has installed a new parcel machine in Kudjape.
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16.06.2022Omniva has announced a procurement to find a partner to renovate its post offices.
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16.05.2022
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12.05.2022Omniva will expand its vehicle fleet and introduce electric cargo bikes by Vok Bikes on a larger scale. The first five bikes have already arrived and are ready to deliver parcels.
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11.05.2022As a new opportunity, when you make a purchase from AliExpress, you have the opportunity to immediately select the nearest Omniva parcel machine to receive your goods.
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02.05.2022The Omniva Group’s turnover and profit for the first three months of this year fell short of expectations. The result was affected by the start of the war in Ukraine as well as rising energy and fuel prices.
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18.04.2022The joint undertaking Post11, which offers comprehensive international logistics solutions to e-merchants, will cease operations on 1 July 2022.
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13.04.2022
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07.04.2022Omniva is giving away gifts to its customers before the Easter holidays.
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21.03.2022In cooperation with the Ukrainian Post, Omniva now offers private persons the possibility of sending humanitarian aid to Ukraine by free parcel as a new service.
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21.03.2022In cooperation with multiple aid organisations, Omniva has already sent 23 trucks containing humanitarian aid to Ukraine. Many more trucks containing aid will be sent over the course of this week and the next.
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07.03.2022Omniva will end the delivery of periodicals from Russia in Estonia starting from today, 7 March.
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07.03.2022Due to the lack of air services, it is temporarily not possible to send shipments to Russia.
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02.03.2022As of 1 April 2022, the declaration of parcels arriving from third countries, i.e. from outside of the European Union, by using the manual process will cost 15 euros.
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28.02.2022The total revenue of Omniva for the fourth quarter of 2021 was 40.3 million, which is 10.3 million more than in the third quarter. Last year, the total operating income of the group in 2021 increased by 10 percent to 148.7 million euros compared to the previous year. Operating profit in 2021 increased by 68 percent to 16 million euros.
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20.01.2022This year, Omniva made an ambitious promise to deliver all parcels by 23 December. We managed to do it by ensuring that our delivery was faster and of higher quality than ever before.
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