Pošta Slovenije Saw €10.4m Net Profit in 2018

By , 19 Mar 2019, 16:15 PM Business

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STA, 18 March 2019 - The group around postal operator Pošta Slovenije generated EUR 250.7m in net sales revenue last year, according to unaudited report, which is 5% more than in 2017. Expenditure was also up due to the expansion of business, but the group still posted a net profit of EUR 10.4m, up EUR 1.5m from 2017.

In recent years, the postal and monetary services divisions have been decreasing. Last year, they were down by 4% and 10%, respectively, CEO Boris Novak told the STA on Monday. Meanwhile, other services offered at post offices saw a 5% rise, he added.

Since the market is expanding, especially in on-line sales, there is more packages and priority mail. Growth was also recorded last year in logistics services and the supply chain.

Despite its legal obligation of also providing conventional postal services, Pošta Slovenije has been adapting to the changes on the market by developing its network for package delivery, supply and logistics, Novak said.

Last year, postal services accounted for 86% of all net revenue, 8% was generated from money transactions and 6% from other services.

The biggest revenue growth was recorded in the segments packages and logistics services, which accounts for almost a fifth of all services.

Pošta Slovenije allocated EUR 25m for investment last year. One of its major projects is the multi-year project of modernisation of its logistic centre in Ljubljana, which last year cost EUR 11m.

It is not clear yet how much of last year's profit will got to the state budget. Last year the owner took EUR 4m and just as much the year before.

But one thing is certain, future business results of the national postal operator will be affected by the agreement which was recently signed with trade unions. The measures introduced this year and the next have been estimated at EUR 17.7m.

This year, the postal operator expects net sales revenue of EUR 251.5m and a profit of EUR 12.3m.

Pošta Slovenije has been mentioned as one of the bidders for the logistics company Intereuropa now held by banks. Novak would not comment on this, but he did confirm that packages and logistics were the two main pillars of Pošta Slovenije's operations.

Through PS Logistika and Feniksšped, the group is already conducting logistic services in the markets of SE Europe and wants to increase its activities in these markets, he said.

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