Omniva’s parcel volume grew by 19% last year, international business reached a record level
Omniva Group today announced its financial results for the fourth quarter and full year of 2024, demonstrating continuing growth despite challenging economic conditions in the Baltic region. The company’s total revenue in 2024 grew by 7.4%, reaching EUR 141.4 million. Omniva’s results clearly reflect the overall market trend – growth in parcel services and a decline in postal services.
Omniva delivered over 45 million parcels in 2024, reflecting a 19% increase in parcel volumes compared to the previous year. Growth was strong in parcel locker and courier services, with increases of 8% in Estonia, 23% in Latvia, and 2% in Lithuania.
“I am pleased that we managed to significantly grow Omniva’s volumes despite the current challenging economic environment and increasingly intense competition. In line with the company’s strategy, we focused last year on expanding our logistics infrastructure, improving operational efficiency, developing new services, and driving international growth,” said Martti Kuldma, Chairman of the Management Board of Omniva.
A key driver of revenue growth was the rising demand from international clients, particularly in Central Asia, the USA, and Europe. Omniva’s transit volumes grew by 101% quarter-over-quarter and 71% year-over-year in 2024.
“Our operational efficiency has been significantly improved by investments that help balance the inevitable rise in operating costs in the long run – such as the opening of a modern new sorting centre in Kaunas and the addition of 135 new parcel machines to our network,” said Kuldma.
Meanwhile, domestic postal services continued to decline last year – letter volumes fell by 13% and direct mail volumes by 9% over 12 months. The universal postal service in Estonia generated a loss of EUR 1.8 million over the year. “Unfortunately, the losses from these services offset the positive impact of our successful business areas,” noted Kuldma.
Omniva’s operating profit for the fourth quarter was EUR 4.6 million, with a net profit of EUR 3.9 million. The full-year operating profit reached EUR 1.1 million, while the net loss stood at EUR 0.56 million—an improvement of 56% compared to 2023, when the net loss was EUR 1.26 million.
According to Kuldma, Omniva is committed to bringing parcel machines closer to people in the coming years: “We are already present in all major shopping centres, and now it is time to focus on community-based parcel lockers, allowing us to reach people in rural areas much more effectively.”
The company also plans to continue expanding its profitable international reach and developing new services to enhance operational efficiency, such as same-day delivery and shared community deliveries across all three Baltic countries. “Our next challenge is achieving profitability, which, in a complex economic and competitive landscape, is possible through innovation,” Kuldma affirmed.