Please wait!
02.08.2019
The net turnover of Latvijas Pasts has grown significantly in 2018 as well, showing an increase of EUR 13.5 million or 17.9% compared to 2017 and reaching EUR 89.1 million. As a result, Latvijas Pasts has exceeded the previous historically highest level of net turnover of EUR 75.6 million in 2017. The increase in turnover is related to the growth in certain segments of postal services as well as to the offer of new services and development of transit to foreign partners.
The net turnover of Latvijas Pasts in 2018 has reached the historically highest level of EUR 89.1 million, while the net profit in the reporting period amounts to EUR 2 million, which is EUR 0.3 million more than in 2017. The key service segments with the highest revenue growth in 2018 were inbound postal parcel items – an increase of 59.5% or EUR 8.4 million, letter post and small packets – 8.6% or EUR 2.7 million, the Postal Settlement System services – 13.6% or EUR 0.5 million and express mail services – 6.7% or EUR 0.3 million.
Transit services provided by Latvijas Pasts to its foreign partners, which are ensured by Latvijas Pasts delivering items of the world’s second largest trading platform Alibaba from China to various recipient countries, account for a significant part of the turnover growth. In 2018 Latvijas Pasts serviced 34 transit cargo aeroplanes, while since the beginning of the transit project in the middle of 2017 to this day Latvijas Pasts has serviced 68 transit item cargo aeroplanes, the largest of which was the Boeing 747 with a cargo capacity of more than 100 tonnes.
“In 2018 we once again secured the historically largest increase in Latvijas Pasts turnover, which is linked to our proactive efforts in creating new service niches, as well as modernising and improving the quality of our offers. At the same time it should be emphasised that the market for postal services is changing rapidly and the use of traditional postal services is decreasing more and more, encouraging the search for new innovative ways to provide services in a cost-effective manner throughout the country and the creation of new modern products in topical postal market segments,” Mārcis Vilcāns, Chairman of the Board of Latvijas Pasts, points out.
In 2018, Latvijas Pasts continued active implementation of modernisation and development projects, ensuring the transition of several important services to the digital environment. The most significant of them was the modernisation of cash register systems in all more than 400 Latvijas Pasts post offices, improving the customer service functionality and at the same time equipping the post offices with modern payment card terminals and electronic signature devices for receipt of items. In 2018 more than 1,300 postmen are equipped with mobile smart devices, which allow them to digitally register both the fact of the receipt of the item and the customer’s signature and also record other facts about the status of the item.
Since July 2018 the mobile invitation project to receive registered items has also been implemented, thereby facilitating faster delivery of such items, saving significant paper resources and eliminating redundant functions.
Eksprespasts of Latvijas Pasts, which specialises in the provision of express mail services, was recognised as the best express mail service in the world in 2018 among 198 competing member countries of the Express Mail Service (EMS) Cooperative of the Universal Postal Union. It was awarded gold level quality assessment. To ensure more efficient delivery of postal items and express mail items, Latvijas Pasts added 64 new cargo vans to its car fleet in 2018.
The investment of Latvijas Pasts in 2018 reached EUR 2 million and was made in the purchase of new cash register systems, car fleet renewal, renovation of the post offices as well as acquisition of new computer software and hardware.
In 2019 Latvijas Pasts continues to develop its core business activities, with a specific focus on increasing profitability and quality, improving work organisation, automating processes and digitisation.
About SJSC Latvijas Pasts
Latvijas Pasts ensures the widest availability of postal services throughout Latvia by maintaining more than 600 post offices. The primary function of the company is provision of the universal postal service; Latvijas Pasts also provides commercial transport, express mail, payment, press subscription, retail and philatelic services. Latvijas Pasts is a wholly State-owned company with around 3,800 employees. The quality measurements of Latvijas Pasts domestic mail deliveries are regularly conducted by Kantar TNS, one of the leading market, social and media research agencies in Latvia. In turn, the quality measurements of the cross-border deliveries are provided within the framework of the International Post Corporation through the intermediary of the research companies Kantar TNS, Ipsos and Quotas.
Additional information:
Gundega Vārpa | Head of External Communications
Phone: +371 67608505
E-mail: pr@pasts.lv; gundega.varpa@pasts.lv
twitter.com/latvijas_pasts| facebook.com/latvijas.pasts| instagram.com/latvijas_pasts