The 9-month financial results of Omniva fell short of the results of last year

The financial results of the Omniva Group in nine months were below the results of 2021. The result was affected by the decline in the volumes of international services, rising fuel and energy prices, and lower consumer confidence.
 
The operating revenue of the group totalled 91 million euros (108.4 million euros in the first nine months of 2021), decreasing by 16% compared to the same period last year. Revenues decreased in all service groups, with international transit service revenues falling the most compared to last year. The result was significantly affected by the Russian–Ukrainian war, as international services and revenues were mostly dependent on the crisis area. Omniva has stopped all international commercial cooperation with Russia and Belarus, continuing to offer only the universal postal service in accordance with the Treaty of Lausanne. Operating expenses totalled 91.7 million euros (94.4 million euros in the first nine months of 2021), decreasing by 3%. As the sales volumes have been lower than planned, direct costs were reduced, delivery rounds and transport operations were optimised, and fewer new employees were recruited than planned. The group earned a business loss of 699 thousand euros (14,015 euros in the first nine months of 2021), which was lower than the expected result.
 
‘We have reoriented our international transit services business and are focusing on new markets, where we hope for a gradual recovery of volumes,’ said Mart Mägi, Chairman of the Management Board of Omniva. ‘In order to offer a fast and environmentally friendly service, we are expanding and updating our parcel machine and postal network across the Baltics and investing in new technology.’
 
In order to expand international operations, preparations are being continued for the establishment of a new sorting centre in Kaunas, which will serve both national and international shipments of Lithuania. In September, an international centre for receiving and sorting cross-border e-commerce parcels was opened in Bishkek, Kyrgyzstan, and cooperation with Oman Post also began.
 
In order to offer the best service, 267 parcel machines across the Baltics will be replaced and installed this year and next year. Omniva has the largest network of parcel machines in the Baltics – a total of 960 parcel machines. Since the beginning of the year, nearly 40 new parcel machines have been installed in Estonia. As a new service, Omniva started providing a virtual parcel delivery service to the small islands of Estonia in August, which has been well popular among the locals. Omniva continues to work closely with municipalities to update the organisation of the postal service. As at 1 October, there are 191 postal establishments in Estonia. The postal service is also provided by personal mail carriers.
 
In the survey of the most loved brands in the Baltics carried out in September by BRAND CAPITAL, Omniva was rated as the fastest growing brand and included among the three most valued brands. At the beginning of October, the company was awarded the ‘Rising Star in Postal Development’ award by the International Postal Union.
 
The consolidated interim report for the first nine months of 2022 has been published on the website of Omniva.
 
Omniva (AS Eesti Post) is a state-owned company, the main activity of which is the provision of 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). The group employs 2,329 employees across the Baltics.