By the end of the 9-month period of 2021 Ukrposhta obtained UAH 131 million of net profit and increased net income by UAH 1.6 billion
Ukrposhta’s financial result for 9 months of 2021 amounted to UAH 131 million of net profit and UAH 8.1 billion of net income. The company increased the net income by 23% or UAH 1.6 billion compared to the same period of 2020.
Ukrposhta has increased volumes and incomes in its main areas of business - transfers, letter mail, payments. And the largest increase was in volumes of parcels. In particular, customers prefer Ukrposhta Express for domestic postal items - the volumes increased by 40% and income by 50%. In addition, there was a significant increase of international items - volumes increased by 55% and income - by 66%.
The largest company's expenses are labour costs, which increased by 17% and amounted to UAH 4.5 billion. During this period, the average salary of employees in full-time equivalent amounted to UAH 9,949 and increased by 16.5% compared to 9 months of 2020.
The company also paid UAH 2.4 billion of taxes, unique social tax (UST), charges and mandatory payments for the first 9 months of this year.
“Now Ukrposhta, like any business, adapts to constantly changing circumstances. It’s not just about the coronavirus and increasing the cost of energy. It’s more due to changing customer habits and global logistics routes as well as to the changes of ability to purchase certain equipment due to the difficulties with the manufacturing of components. Therefore, the achieved results prove that Ukrposhta is developing in the right direction. The increase in income and profit to UAH 131 million (twice as much as in the same period last year) was due to an increase in the level of trust and business volumes on the part of our customers, especially in the parcel segment, which shows the best dynamics. Considering the state of the postal infrastructure, profit is not our main goal. But it gives us the opportunity to confidently continue the ongoing investment projects, which will provide an opportunity to improve the quality of customer service and give a powerful impact to the company’s development,” Igor Smelyansky CEO of Ukrposhta said.
As reported, Ukrposhta increased profitability by 16% compared to the same period last year and received 6.5 billion UAH of net income for the first 9 months of 2020. The company’s net profit for the three quarters of 2020 amounted to UAH 60.9 million.