In 2023, Ukrposhta JSC increased its net income from sales by 12.2% compared to 2022 to UAH 11.58 billion, reducing its net loss by 36% to UAH 796.4 million, according to a report on the company’s official website on Thursday.
“Revenue growth is observed for all services, except for income from mailing, distribution of periodicals, payments, and a number of others,” the company said in a statement.
It is noted that against the backdrop of a 12.8% increase in the volume of written correspondence, revenues from the service decreased by 11% to UAH 1.5 billion.
The volume of distribution of periodicals decreased by 25.3%, and revenues from this type of activity fell by 40.6% to UAH 197.9 million due to falling demand for the service and delayed tariff revision, Ukrposhta noted.
In addition, the number of accepted utility payments decreased by 3.6%. The company explained this by migration of the population, destruction of utility infrastructure, and partly by the introduction of payment holidays.
According to the report, Ukrposhta’s revenue growth was driven by parcels, both domestic and international, as well as remittances. In 2023, the volume of domestic parcels increased by 34% to 50 million units, and revenues from the parcel delivery business reached UAH 1.7 billion.
Revenues from international postal operations (international parcels, small packages, EMS) amounted to UAH 2.7 billion. It is noted that the volume of international export shipments increased by 3.7% compared to 2022, while due to the growth of the exchange rate, revenues increased by 27.8%, Ukrposhta said.
In 2023, the company’s revenues from pensions and cash benefits increased by 4% to UAH 2.8 billion, while the number of pension payments decreased by 5.5%, which is significantly higher than the historical outflow rate, the report said.
According to the report, revenue from postal transfers increased by 88.7% to UAH 317.2 million, and from the sale of goods in branches by 2.8% to UAH 873.3 million.
It is reported that Ukrposhta has no arrears in payments to the budget and state trust funds. In 2023, the company paid UAH 2.99 billion in taxes, fees and mandatory payments, which is UAH 128.6 million more than in 2022.
The volume of Ukrposhta’s capital investments in 2023 amounted to UAH 526.7 million.
It is also noted that during 2023, the company fulfilled its financial obligations in a timely manner, including bond repayments of UAH 3.9 million, leasing of UAH 221.9 million, and loan servicing of UAH 231.9 million. As of the end of 2023, the company’s total debt amounted to UAH 1.73 billion, including UAH 1.008 billion in bank loans and UAH 170.2 million in financial leasing.
In 2023, the average number of Ukrposhta employees was 40.4 thousand, including 7.4 thousand postal operators and 12.5 thousand postmen. The average salary in 2023 was UAH 11.69 thousand. The company’s total labor costs in 2023 increased by 8.4% to UAH 5.97 billion.
The number of Ukrposhta’s stationary offices amounted to 4.69 thousand, and mobile offices – 1.86 thousand, the report says. Due to military operations, the company temporarily lost control of about 12% of its post offices, mainly in the occupied areas of Luhansk, Donetsk, Kherson and Zaporizhzhia regions.
