4 Jul 2024 16:51

Ukrposhta slashes net loss 2.1-fold, boosts revenue 10.1% in Q1 2024

MOSCOW. July 4 (Interfax) - The Ukrainian postal company Ukrposhta raised its revenue 10.1% year-on-year to UAH 3.05 billion in January-March 2024, having reduced its net loss 2.1-fold to UAH 190.3 million.

"Net profit from the sale of products (goods, works, services) reached UAH 3.05 billion for the first quarter of 2024, which is UAH 340.2 million or 10.0% less against the target and UAH 280.4 million or 10.1% more against actual data for the first quarter of 2023," Ukrainian media quoted a statement on the company's website.

The failure to meet the revenue target is linked to the fact that the company failed to provide services in full due to the crisis. At the same time, there are higher sales for a number of basic services, which enabled the growth of revenue year-on-year, Ukrposhta said.

The company's EBITDA stood at UAH 83.7 million in Q1 2024.

Ukrposhta accepted domestic and international shipments in the amount of 24.1 million pieces of written correspondence and 12.4 million parcels in Q1 2024. The company also paid 3.5 million transfers and 9.5 million pensions and monetary allowances.

In total, 1,200 titles of Ukrainian periodicals were distributed by subscription and retail, which totals 16.7 million items, including 14.3 million items by subscription and 2.4 million items by retail.

Ukrposhta had 5,570 permanent outlets and 1,860 mobile ones. The average number of full-time employees stood at 34.258 as of Q1 2024, including 7,053 postal operators and 7,974 mail carriers.

The average salary of a full-time Ukrposhta employee reached UAH 13.799 in Q1 2024.