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Russian Post announced a drop in the volume of international parcels by 58% in five months
16 June, 18:17
Economy
Russian Post announced a drop in the volume of international parcels by 58% in five months
The head of Russian Post JSC Maxim Akimov announced a reduction in the volume of international parcels, in connection with which the company's revenue is expected to fall this year.

“The drop in the volume of cross-border postal items, which amounted to 58% in 5 months , may lead to a decrease in the marginality of Russian Post JSC in 2022. Of course, this will affect financial performance. Probably, after all, this year will not be as marginal as the previous one,” Akimov said on the sidelines of the SPIEF (quote fromInterfax ).

According to him, the company's revenue last year amounted to 228.1 billion rubles, EBITDA - 20 billion rubles, and EBITDA margin - 8.8% . He explained the drop in the volume of cross-border postal items by the withdrawal of foreign brands from the domestic market, as well as by the restrictions of Western countries and the exchange rate.

“The first two quarters were not easy for Russian Post. We hope for the restoration of volumes,” Akimov shared his optimistic expectations.

The head of the Russian Post noted the gradual recovery in the volume of postal items for import and export. According to him, the company is looking for new channels, develops logistics schemes, and also uses new settlement solutions. Akimov assured that the postal exchange is maintained with almost all countries, including the United States, European and Asian states.

“New leaders are emerging - such as Israel, for example, China in exports - a lot of supplies from Russia are now going there,” he added.