Ukraine’s national postal operator Ukrposhta JSC has completed the year 2022 with a UAH 1.258-billion loss, CEO Ihor Smelyansky announced.
In 2022, Ukrposhta saw an actual loss of UAH 1,258.1 million, of which UAH 216.9 million was due to lost assets in the temporarily occupied territories of Kherson, Donetsk and Luhansk regions, and UAH 402.1 million – due to foreign exchange losses amid forex fluctuations.
Ukrposhta completed the year 2022 with net income from the sales of goods and services in the amount of UAH 10.3 billion, down by 7.7%.
In 2022, the volume of domestic and export parcels remained at the level of the previous year. Trade revenues increased by 41.9%. For objective reasons, the volume of written correspondence in 2022 decreased by 53.4% with a gradual recovery as of the end of 2022. Therefore, revenues in this area decreased by 18.3%. Also, due to the closure of a large number of print media and migration, revenues from the distribution of periodicals were down by 22.4%.
Thanks to the profits of previous years and measures undertaken to preserve cash, Ukrposhta maintained a strong liquidity position in 2022, which allowed it to maintain operations without a cash shortage, meet its financial obligations on time and resume its capital investment program.
“Despite the huge war-related losses, we were able to retain the team in 2022, fulfill all financial obligations, and even continue to invest in previously launched projects. And all this – without subsidies from the state budget because we understand that it should be primarily aimed at supporting our Armed Forces. Ukrposhta recorded losses in 2022, but given the measures taken, we are confidently looking forward to 2023 and will do everything to return to profit while continuing to support the state,” Smelyansky said. (Ukrinform/Business World Magazine)