Estonia, Logistics, Markets and Companies

International Internet Magazine. Baltic States news & analytics Monday, 16.07.2018, 13:31

FY revenue of Itella Estonia climbs to EUR 13.1 mln

BC, Tallinn, 11.07.2018.Print version
The revenue of the logistics company Itella Estonia OU in 2017 grew 38% year over year to 13.1 mln euros and net profit surged 59% to 1.1 mln euros, informs LETA/BNS.

Revenue from forwarding and the operation of parcel machines made up 80% of sales revenue and revenue from warehousing 20%, the company said in the annual report.


Revenue shot up as a result of the company joining the network of DHL partners and because in the reference year 2016 a merger of Itella Estonia OU and the operator of parcel terminals Itella Smartpost OU took place.


Investments made by Itella Estonia during the year totaled 310,000 euros, with the biggest investment made in expanding the network of parcel terminals.


In 2018, the company is planning to launch a hybrid network of parcel terminals and parcel stores and to continue developing the parcel delivery service.


The company employed 182 people in 2017, and wage costs totaled 2.9 mln euros. In 2016, employees numbered 154 and wage costs totaled 2.3 mln euros.

 






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