In the fourth quarter of 2024, Ukrposhta JSC increased its net income by 11.5% year-on-year to UAH 3.59 billion, earning a net profit of UAH 97.7 million for the first time since the start of the full-scale invasion, the company reported on its website.
“Net income from sales of products (goods, works, services) for the fourth quarter of 2024 amounted to UAH 3,591.6 million, which is UAH 262.3 million, or 6.8% less than the plan and UAH 370.9 million, or 11.5% more than the actual data for the fourth quarter of 2023,” the interim report on the company’s website says.
It is reported that the failure to fulfill the revenue plan is due to the fact that Ukrposhta was unable to provide services in full in the regions where hostilities are taking place and in the temporarily occupied territories.
At the same time, a number of basic services have seen an increase in sales, which has made it possible to ensure revenue growth compared to the same period last year.
It is noted that during the fourth quarter of 2024, Ukrposhta received 22.7 million pieces of written correspondence, 13.3 million parcels and 23.3 million payments for domestic and international shipments.
Ukrposhta’s EBITDA in the last quarter of 2024 was positive and amounted to about UAH 200 million.
During this period, the foundation was laid for the renewal of the company’s logistics network and IT infrastructure, Ukrposhta said in its interim report.
“We are confidently looking forward to 2025, the year of the company’s radical renewal, achieving positive financial results and expanding the company’s activities in new directions to provide Ukrainians with basic services under any circumstances on 100% of the territory of our country,” the document says.
It is noted that in the fourth quarter, Ukrposhta fulfilled its debt obligations to creditors. In addition, at this time, it was completing the transition to a new centralized structure without separate branches and continued to work on the implementation of strategic investment projects, the key of which are transition to mobile branches in rural areas (with the financial support of the European Bank for Reconstruction and Development); automation of mobile branches, which will allow Ukrposhta to fully automate its network; upgrade of critical back- and transactional IT systems to improve the quality of service delivery (USC, Track & Trace, BePost); a new CRM system, which will help the company estimate the number of real customers.
“Today, the customers who are in the subscription database and those who pay fees and receive parcels are two different categories of customers,” the report says.
According to the report, Ukrposhta plans to launch a new mobile client application in the first quarter of 2025.
Last year, in the fourth quarter, Ukrposhta operated 5219 stationary and 2063 mobile outlets. The company’s average number of employees was 28,945, including 5,950 postal operators and 5,834 postmen. The average salary of a full-time employee in the reporting period was UAH 17,872.
Earlier, Ukrposhta CEO Ihor Smelyansky said in an exclusive interview with Interfax-Ukraine that the company ended the fourth quarter of 2024 with a profit for the first time since the start of the full-scale invasion, but despite improving EBITDA and operating income, it has a “paper” loss for the whole of 2024.
Earlier it was reported that in January-September 2024, Ukrposhta JSC increased its net income by 12.28% compared to the same period in 2023 – up to UAH 9.38 billion, reducing its loss by 4.9% to UAH 565.64 million.
