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06
11
2019

Omniva’s turnover grew by a fifth

Based on unaudited data, the turnover of AS Eesti Post increased by 18.4 percent to 89.9 million euros in the 3rd quarter. However, the logistics company generated a loss of 700,000 euros.

In total, the operating loss of the group in nine months was approximately 500,000 euros, which was a weaker performance than estimated. This result was affected by an increase in the wages of front-line employees in the third quarter and by launching the new logistics centre and sorting line in the fourth quarter of the previous year and in the first quarter of the current year.

Likewise, according to the management of the state-owned company, the profitability of logistics business decreased compared to the first nine months of the previous year due to intense competition. Profitability fell also in the postal sector as a result of decreasing volumes and increasing labour costs. The results showed a significant increase in expenses on dispatched international shipments as a result of the increased revenue from international business services. The staff costs of the logistics business as well as the expenses on buildings increased also.

During the year, the average number of employees of the logistics company increased by 16 persons to 2,265 employees. The number of employees has steadily increased in the subsidiaries and has remained stable in the parent company. The nine months’ labour costs of the employees increased by 12 percent during the year to 30.7 million euros.

AS Eesti Post, which uses the Omniva trademark, is an international concern offering postal, logistics and infologistics services. It employs almost 2400 people, 1700 of whom in its postal business. AS Eesti Post is 100% state-owned and is administered by the Ministry of Economic Affairs and Communications.

The Eesti Post Group also comprises AS Maksekeskus, OÜ Omniva, the Lithuanian subsidiary UAB Omniva LT, the Latvian subsidiary SIA Omniva, and the affiliated company OÜ Post11.
 

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