Omniva’s profit quadrupled in nine months

Illustrative photo. Photo: Liis Treimann

In the first nine months of this year, the state-owned postal company Omniva made a profit of 12.9 million euros, which is four times more than last year.

The group’s turnover in January-September increased by 10 million euros, reaching 105.8 million euros.

One of the reasons for the growth is the rapid increase in the volume of e-commerce in the Estonian market, which allowed the company to grow despite an overall 40% drop in the international parcel segment due to changes in the European rules for calculating turnover tax on parcels from third countries.

In the Baltic postal segment, Omniva’s revenues increased by 25% and in the international shipping segment by 5%, despite tax changes at the EU level. In the segment of information and commercial services, which is provided by a subsidiary of the Finbite OÜ concern, revenue in the third quarter increased by 19% year-on-year.

Source: by

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