Russian Post showed gross profit for the first half of 2024 for the first time in five years

Russian Post received a gross profit of RUB 1.3 billion for the first six months of 2024*, compared to a loss of RUB 1.2 billion for the first half of 2023 — for the first time since 2019, this figure is in the positive zone during the low season. The company's revenue increased by 3% to RUB 106.4 billion. The estimated operating profit (EBITDA) was +RUB 0.7 billion compared to -RUB 2.9 billion in the same period of 2023.

The company managed to reduce operating expenses by 0.4% with an average industry growth in costs in the logistics sector from 10 to 60%.

By 5%period to period, revenue from postal services increased — to 77 billion rubles. The main driver of growth was the development of cooperation with commercial senders: three times morelegal entities connected to delivery services using a digital offer than in the first half of 2023. Financial performance was positively affected by integration with key e-commerce platforms, as well as cooperation with e-comm players and large retailers in the field of logistics: in the six months of 2024, the volume of warehouse services for sellers under the FBS scheme increased almost fourfold,< /b> by FBO — more than six times.

Digital revenue grew by 17%: digital and hybrid » Mail», revenue from the provision of this type of service increased by RUB 1 billion period to period. Post's digital services are becoming increasingly in demand. Users paid for 60% more shipments using online payment signs. 55%Post already delivers information about traffic police fines in the format of electronic registered letters.

The net loss amounted to 8.6 billion rubles. At the same time, the result of the current period was negatively affected by exchange rate differences: 1.5 billion rubles. against a positive effect in the first half of 2023 in the amount of 5 billion rubles.

Pochta improves the quality and speed of service in branches. In the spring of 2024, the company’s clients had the opportunity to receive shipments using a QR code system. The innovation allowed speed up the delivery and dispatch of letters and parcels three times. The number of complaints about the speed of service at branches decreased by 55% period-to-period.

“Last year, we carried out large-scale work to stabilize the company's financial condition and are now focused on business development. We are increasing revenue, maintaining focus on the convenience of postal services for customers and the quality of services. Users appreciated the changes: the satisfaction index among private customers increased by 5 percentage points, and among legal entities — by 3 percentage points,” notes Mikhail Volkov, CEO of Russian Post.

Russian Post remains a reliable partner of Russian exporters. In the first half of 2024, the logistics operator resumed cooperation with another 17 countries, now the company provides stable postal service to 145 countries of the world.

*according to Russian Accounting Standards (RAS).