Good for Business, Latvia, Post Office, Transport

International Internet Magazine. Baltic States news & analytics Wednesday, 23.09.2020, 15:53

Latvijas Pasts turnover increases 7.9% in 2019

BC, Riga, 10.08.2020.Print version
Postal service provider Latvijas Pasts' net turnover last year amounted to EUR 96.2 million, an increase of EUR 7.1 million or 7.9 percent on 2018, as Latvijas Pasts representative Gundega Varpa told LETA.

This is Latvijas Pasts' highest annual net turnover to date. The company's net turnover has been growing for three consecutive years since 2017.


Latvijas Pasts' net profit amounted to EUR 1.49 million in 2019.


Latvijas Pasts CEO Maracis Vilcans points out that last year the company made substantial investments in consolidating long-term future activities and modernization of services. "Part of these investments paid off already in 2020, for instance, in the parcel locker segment when turnover of Latvijas Pasts' parcel locker network increased 40 percent in three months on the average. We have diversified our services in accordance with our customers' needs, and at the same time we demonstrated our preparedness for market fluctuations," said Vilcans.


The amount of Latvijas Pasts transit services also increased in 2019, when the company served fifty transit freight planes. Incoming transit mail for Latvijas Pasts accounted for 6.7 percent of the Riga International Airport's total freight turnover last year.


In the third quarter last year, Latvijas Pasts acquired a network of 61 parcel lockers, offering customers the opportunity to receive their parcels at post offices, Circle K filling stations and from parcel lockers all across Latvia.


Express mail service of Latvijas Pasts was once again recognized as the best express mail service in the world in 2019 among 198 competing member countries of the Express Mail Service (EMS) Cooperative of the Universal Postal Union. It was awarded the gold level quality assessment and the first place.


Also last year, Latvijas Pasts received the Financial and Capital Commission's license for providing financial services


Latvijas Pasts points out that international passenger transport was restricted or put on hold due to the Covid-19 restrictions in the first quarter of this year, which impeded international parcel shipments.


Latvijas Pasts continues modernization of services, improving customer services and quality, working on modern solutions, optimization, automation and digitization of procedures, resource-saving, as well as improving the remuneration system and developing a competitive motivation system.


In 2018, Latvijas Pasts posted EUR 89.11 million in turnover and EUR 2.011 million in profit.






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