In the first half of 2025, the state-owned joint-stock company Ukrposhta increased its revenue by 5.4% compared to the same period last year, to UAH 6 billion 505.0 million, reducing its net loss by 27.2% to UAH 311.8 million.
“In the first half of 2025, the volatility of external markets was exacerbated by the uncertainty of the tariff policy of the world’s largest economies and a significant decline in the hryvnia exchange rate against foreign currencies,” the report says.
According to the report, Ukrposhta ended the first half of the year with a negative capital of UAH 101.6 million, compared to UAH 210.2 million at the beginning of the year.
However, the company noted that in the first half of 2025, it managed to improve its financial performance compared to the same period last year.
According to the reporting in the NSSMC disclosure system, the company’s gross profit in the first half of 2025 increased by 9.9% to UAH 605.2 million, while operating losses increased by 12.8% to UAH 474.8 million due to an increase in administrative and other operating expenses.
National postal services accounted for the largest share of total revenue in the first half of the year, at UAH 3 billion 859.6 million, which is 7.6% more than in the same period last year. The delivery of parcels and small packages increased by 9.7% to UAH 2 billion 078.3 million, written correspondence by 9.8% to UAH 814.2 million, subscription processing and delivery of periodicals by 1% to UAH 142.9 million, while international postal exchange remained at UAH 613.9 million.
The company’s financial and related services grew by 0.4% to UAH 2.212 billion, in particular, pension payments and delivery decreased by 6.5% to UAH 1.3416 billion, postal transfers decreased by 5.8% to UAH 147.4 million, while payment acceptance increased by 20.1% to UAH 674.7 million.
Ukrposhta’s income from trade in own and commission goods increased by 14.3% in the first half of the year to UAH 431.6 million.
It is noted that investments in non-current assets in the reporting period decreased to UAH 195.1 million from UAH 312.1 million in the same period last year.
According to the report, the company’s long-term liabilities in the first half of the year increased from UAH 1.38 billion to UAH 2.59 billion, while short-term liabilities decreased from UAH 9.95 billion to UAH 8.57 billion.
It is noted that as of June 30, 2025, financing under the loan agreement with the EBRD was received in the amount of EUR 42.5 million, and EUR 14.81 million was repaid.
According to the report, as of June 30, 2025, the company violated financial covenants under the loan agreement with the EBRD, but at the company’s request, the bank waived the covenant requirement for 2025.
Ukrposhta emphasized that significant uncertainty in its activities remains in 2025. Thus, the management’s plans to bring the company to profitability in 2025 were affected by large-scale shelling of infrastructure facilities by the aggressor, which led to disruptions in operations, loss of facilities involved in revenue generation due to their destruction by the aggressor, and loss of territory.
Separately, Ukrposhta indicated that it plans to actively invest in the second half of the year and implement measures that will ensure positive financial results and sufficient cash flow to ensure uninterrupted operations even if risks materialize.
In particular, this includes the introduction of IT solutions with 3-in-1 devices to enable offline operation in rural areas, further integration with OLX, marketplaces, and typical customer CRM systems to ensure the availability of Ukrposhta services for small business customers; delivery quality is ensured at a level of at least 95% of the stated deadlines.
“A corresponding liquidity stress test shows that even if all risks materialize, the Company will be able to continue to meet its obligations to creditors and complete key investment projects in the foreseeable future,” the report says.
In addition, the Escher front-office system is being updated, which will speed up service delivery and enable payment by bank card.
The company also noted that it is in the final stages of transitioning to a new automated parcel sorting system, purchasing and delivering new vehicles to renew its fleet and reduce dependence on third-party transport, and deploying a new front-end system for mobile branches, while continuing to improve and refine its desktop solution.
According to the report, Ukrposhta is additionally focusing on preparing for work in conditions of prolonged blackouts in winter.
Ukrposhta JSC (Kiev) on August 12 announced a tender for compulsory civil liability insurance for owners of motor vehicles (CMTPL).
According to the electronic public procurement system Prozorro, the expected cost of the service is UAH 3.369mn. Documents are accepted until August 20.
Ukrposhta JSC (Kiev) on July 17 announced a tender for services of compulsory insurance of civil liability of owners of motor vehicles (OSAGO).
As reported in the electronic public procurement system “Prozorro”, the expected cost of the service -13.246 million UAH. Documents are accepted until August 17.
In January-March 2025, Ukrposhta increased its net revenue by 9% to UAH 3.349 billion, after posting a net loss of UAH 203.65 million in the fourth quarter of 2024.
According to the company’s disclosure in the SMIDA information disclosure system, net losses in January-March 2025 increased by 6% compared to the first quarter of 2024, when they amounted to UAH 190.27 million.
EBITDA was positive and amounted to UAH 41.4 million in the first quarter, compared to UAH 31.7 million in the same period last year.
Ukrposhta’s net income was 5% less than expected, according to the report. The main reasons, in particular, despite the overfulfillment of the number of international shipments, were the loss of net income in hryvnia due to the fact that the actual dollar exchange rate in the first quarter of 2025 was lower than the rate set in the state budget for 2025, on the basis of which the company’s planned revenues for this year were formed. The continued aggression of Russia also had an impact, resulting in the loss of markets and property, a slowdown in income growth against a backdrop of inflation (103.5% in January-March), which in turn affected the volume of all services.
Ukrposhta’s revenues from almost all services, except for pensions and cash assistance, money transfers, periodicals, and other commercial and financial services, increased in the first quarter of 2025. Revenue from parcel and small package delivery increased by 10% to UAH 1.071 billion, and from international postal exchange by 15% to UAH 317.21 million. On the other hand, payments and deliveries of pensions and other social benefits decreased by 8.7% to UAH 669.12 million. The volume of payments accepted increased by 20.6% to UAH 364.98 million, while the volume of postal transfers decreased by 14% to UAH 74.25 million. The volume of trade in own goods and commission goods increased by 19% to UAH 240.68 million.
In total, in January-March this year, Ukrposhta accepted 20.9 million items of domestic and international mail, including 11.1 million parcels, and made 22.4 million payments.
Among the reasons for the losses in the first quarter of 2025, Ukrposhta noted the actual exchange rate of the dollar, which was lower than the exchange rate set in the state budget for 2025, according to which the company’s planned revenues were formed, a decline in consumer spending, and lower-than-expected income from the planned sale of property (35.1 million hryvnia). Ukrposhta also noted that it had completed a business transformation through the launch of automated parcel sorting and the optimization of personnel and business processes.
In the first quarter, the foundation was also laid for the renewal of the logistics network of JSC Ukrposhta and its IT infrastructure, according to the report.
“Overall, we are confidently looking ahead to 2025—a year of radical renewal for the company, a return to positive financial results, and the expansion of the company’s activities in new directions to provide Ukrainians with basic services under any circumstances across 100% of our country’s territory,” it said.
As of March 31, 2025, Ukrposhta had 5,177 stationary points and 2,058 mobile points, serving 11,145 and 20,320 service points, respectively. The average number of full-time employees in the first quarter was 28,859, including 6,038 postal operators and 5,808 postmen. The average salary of a full-time employee was UAH 18,189 thousand.
Earlier it was reported that Ukrposhta increased its revenue in 2024 by 12.1% compared to 2023, to UAH 12.9 billion, and reduced its loss by 1.9 times, to UAH 413.2 million.
In the fourth quarter of 2024, the company increased its net income by 11.5% compared to 2023, to UAH 3.59 billion, and for the first time since the start of the full-scale invasion, it received a net profit of UAH 97.7 million.
Ukrposhta’s revenue in 2024 was 5.7% less than planned, but increased by 11.2% compared to 2023 to UAH 13.65 billion, the company reported in the SMIDA information disclosure system.
Ukrposhta explained the failure to fulfill the revenue plan by the inability to provide full services in the areas where hostilities are taking place and in the temporarily occupied territories. Due to military operations, the company temporarily lost control of about 12% of its post offices, mostly in the occupied areas of Luhansk, Donetsk, Kherson and Zaporizhzhia regions, the statement said.
At the same time, the company reported an increase in revenues in 2024 from the provision of almost all types of services, except for pensions and financial assistance. Last year, the company’s revenues from providing pensions and financial assistance services decreased by UAH 13.3 million due to a higher-than-expected outflow of pensioners, primarily to rural areas, the company said in a statement to SMIDA.
“Ukrposhta was unable to compensate for them by attracting additional pensioners due to the delayed launch of CRM and the new front, the statement said.
Ukrposhta stressed that the company was able to maintain the vast majority of its customer base during the war, as it did not stop its operations and worked in areas of the country where banking institutions were often closed.
Ukrposhta’s revenues from “trade” (excluding cost of goods sold) decreased by UAH 14.6 million, or 2.6%, in 2024 due to “unlaunched catalog trade and optimization of the network in rural areas to reduce the number of postal services (another structural unit of Ukrposhta that directly provides postal, logistics and financial services to the population. It can be stationary or mobile – IF-U).
Revenue from “other postal services” decreased by UAH 2.4 million, or 0.6%. At the same time, a number of key services saw a recovery in business activity and an increase in volumes, which made it possible to ensure revenue growth compared to the same period last year. In particular, revenues from “written correspondence” increased by 10.1% year-on-year to UAH 1.6 billion.
Revenues from the delivery of small packages increased by 25.5% to UAH 1.08 billion. Revenues from “parcels” increased by 10.8% to UAH 2.56 billion due to the recovery of business activity, while revenues from “distribution of periodicals” increased by 37.8% to UAH 272.7 million due to the growth in demand for this service among the population and changes in tariffs.
In 2024, Ukrposhta’s revenues from international mail exchange increased by 45% compared to 2023 to UAH 1.33 billion. In particular, revenues from EMS shipments (an international express mail delivery service provided by the postal administrations of the Universal Postal Union member countries – IF-U) increased by 26.6% to UAH 331.7 million.
Revenue from postal transfers increased by 4.8% to UAH 332.3 million. “Ukrposhta increased payment acceptance by 28.3% to UAH 1.3 billion. The company accepted 91.4 million units of domestic and international shipments, 48.8 million parcels and made 91.7 million payments.
According to the report, other operating income for 2024 amounted to UAH 394.2 million, which is UAH 89.1 million more than in 2023. The main increase was due to the write-off of accounts payable in the amount of UAH 157 million to one postal operator. Other financial income for 2024 amounted to UAH 123.4 million, which is UAH 3.9 million less than in the same period last year, the statement said.
The structure of Ukrposhta, according to the report, includes 5219 stationary points serving 11.1 thousand service points, 2 063 mobile points serving 20 126 service points. In 2024, the average number of full-time employees of Ukrposhta JSC amounted to 31,459, including postal operators – 6,477 people, postmen – 6,658 people. The average salary of a full-time employee of Ukrposhta in 2024 was UAH 16,144.7.
Ukrposhta JSC increased its revenue by 12.1% in 2024 compared to 2023 to UAH 12.9 billion and reduced its loss by 1.9 times to UAH 413.2 million, the company’s press service reported, citing the company’s financial statements confirmed by an independent international auditor.
“Despite the difficult wartime conditions, the national postal operator continues to increase revenue and demonstrates positive financial results in 2024. According to the company’s financial statements, confirmed by an independent international auditor, in 2024 Ukrposhta received UAH 12.9 billion in revenue, which is UAH 1.3 billion, or 12.1%, more than in 2023,” Ukrposhta’s press service said on Monday.
The growth of the company’s financial performance at the level of 12% has been recorded for the second year in a row: in 2023, the company’s revenue also increased by 12% compared to 2022 and amounted to UAH 11.6 billion, the Ukrposhta press service emphasized.
In 2024, for the first time since the beginning of the full-scale invasion, Ukrposhta received positive EBITDA (earnings before interest, taxes, depreciation, and amortization). The figure reached UAH 659.3 million. In 2023, Ukrposhta had an excellent EBITDA (-22.9 million UAH), and in 2022 (-462.8 million UAH), the company said in a statement.
“Despite the stable dynamics of revenue growth, Ukrposhta still has a net loss. However, it has almost halved – by UAH 383.2 million compared to 2023 – and now amounts to UAH 413.2 million. The main factors behind the loss were currency fluctuations (UAH 246.9 million) and the cost of maintaining property whose sale was legally blocked (UAH 43.2 million),” Ukrposhta’s press service said.
Capital investments in 2024 amounted to UAH 695.7 million.
It is noted that the key drivers of the company’s growth in 2024 were income from international postal exchange – +45%; payment acceptance – +28.3%; expedited international EMS delivery – +26.6%; international shipments (small packages) – +25.5%; parcels – +10.8%.
“On paper, Ukrposhta is still unprofitable, but an international audit has already confirmed that our EBITDA is positive. That is, the company is actually in the black operationally, and the losses we record are servicing loan obligations in foreign currency, which grow in proportion to the depreciation of the national currency, and lost income from the planned sale of property. Part of the losses is the constant destruction of our infrastructure (branches, vehicles), given that Ukrposhta operates along the entire front line, where there are no other companies,” Ukrposhta CEO Ihor Smelyansky said, as quoted by the press service.
Smelyansky assured that Ukrposhta will continue reforms and investments in new facilities.
Ukrposhta emphasized that the company currently has no arrears in payments to budgets and state trust funds. In total, in 2024, the company paid UAH 3.1 billion in taxes, fees and mandatory payments, which is UAH 124.0 million more than in 2023.
Earlier it was reported that in the fourth quarter of 2024, Ukrposhta JSC increased its net income by 11.5% compared to last year to UAH 3.59 billion, having received a net profit of UAH 97.7 million for the first time since the beginning of the full-scale invasion.
