Estonian Post has announced 2012 profits of €2.52 million, more than double compared to 2011, andconnected its pan-Baltic Post24 parcel machines network.
Profits from Estonian Post’s principal activity, considered more important by thestate-owned postal operator, were at €2.47 million. Revenues grew 9 per cent to €52.7 million,fuelled by soaring parcel volumes, which rose 15 per cent to nearly 2 million. Meanwhile, volumesof advertising services increased by 8 per cent to 174 million and the rapidly growing segment ‘e-services’, including electronic mail and invoicing, saw volumes rise by 48 per cent. On the otherhand, traditional letter volumes continued their steady decline and decreased by 8 per cent tonearly 31 million.
“This is a good result”, commented Meelis Atonen, Chairman of the Council of Estonian Post. “ The company pays the state about 20 per cent of the earned profit, or 400 000 EUR in dividends.”
Aavo Kärmas, Chairman of the Board, explained that the rest of the profit will be used forinvestments in network and service improvements, as well as for improving working conditions andraising salaries. “This year, we raised the basic salaries by an average of 3.6 per cent, whichaccounted for 21 per cent of annual profit of 2012”, he said.
“In 2013, we will allocate €4.8 million to investments, which will result in growth of thePost24 parcel lockers network, an increase of quality of services, development of Baltic-wideparcel services, and will make postal services easier and available 24/7 and contribute todevelopment of e-services,” Kärmas listed.
Estonian Post’s 2012 milestones were the establishment of its Post24 parcel locker networkin Latvia and Lithuania, increased growth of its e-services and the acquisition of Lithuaniancourier company Unipakas UAB in October.
With the local parcel locker networks in the three Baltic states now linked, it is nowpossible to send parcels using Post24 parcel machines to and from Estonia, Latvia and Lithuaniawithin 1-2 working days. This move is to enable local e-retailers to broaden their customer base tothe whole Baltic region with a total of 6.57 million inhabitants, thereby putting Estonian Post ina better position to benefit from soaring e-commerce volumes. Estonian Post’s Post24 network is thelargest in the Baltic with a total of 114 machines – 50 in Estonia, 29 in Latvia and 35 inLithuania.
“We used to have three different parcel machine networks in three different countries, butnow we can really say that there is a pan-Baltic parcel machines’ network available throughout theBaltics,” said Ansi Arumeel, head of the Logistics Division in Eesti Post. “Connecting the threecountries is a big step for Post24 but also for the whole field of sending parcels in the Baltics,”he said.
Estonian Post employs a total of 2,539 people. Alongside its Post24 parcel lockers, EstonianPost has nearly 500 service points for sending and picking up parcels across the country. In 2012,the company announced plans to invest a total of €12 million in its services in the Baltics in thenext few years.
