The estimated operating profit (EBITDA) of Russian Post showed a positive value for the first time since 2019. According to the results of the first half of 2024, it amounted to 101 million rubles. This is stated in the Post’s report on results according to international financial reporting standards (IFRS).
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The negative value for the first half of 2023 was 3.2 billion rubles.
The company’s revenue for the six months of 2024 grew by 2%, amounting to 110.3 billion rubles, and revenue from the delivery of parcels from electronic platforms within Russia grew by 53%, or 1.25 billion rubles (the absolute figure is not provided).
Russian Post also increased its revenue from the provision of postal services by 8% to 58.7 billion rubles. This is explained by the development of digital services: the company delivered a third of all written correspondence in January-June 2024 in electronic or hybrid format.
The postal operator is stepping up cooperation with the e-commerce market not only in the field of delivery to end customers, but also in the field of warehouse services. Thus, revenue from the provision of fulfillment services increased by 4.6 times in the period under review (the absolute figure is not provided).
The company’s statement also notes that Post managed to reduce operating costs by 0.5% against the background of a general increase in the cost of logistics and transport services. Revenue from the sale of real estate amounted to 888 million rubles, which is 4.9 times more than in the same period in 2023.
Author:
Anastasia Marina
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
