Posta Romana seeks financing for EUR 30 mln investments

Romania’s state postal services operator Poşta Română is looking for the best solution to finance an investment plan worth EUR 30 million to be carried in the next five years. Among others, the investment plan aims at quadrupling to 15% company’s market share on the market for Express deliveries, Profit.ro reported.

The investments include a sorting center in the capital city, the purchase of parcel sorting equipment for the regional centers in Bucharest and Cluj-Napoca, the expansion of its car fleet, as well as the upgrade of its IT processing and storage infrastructure.

According to the data consulted by Profit.ro, the company received financing offers from BCR Leasing, BCR, Libra Internet Bank, Eximbank, and Unicredit Bank.

The investment in the sorting center in Bucharest amounts to EUR 7.5 million. The expansion of the fleet with more than 600 vehicles plus nearly 250 mopeds requires another EUR 9.23 million. Upgrading the IT infrastructure has an estimated cost of EUR 7.2 million.

The company has over 24,000 employees and a network of some 5,600 units. The Communications Ministry controls 93.52% of the Post's shares with the remaining 6.48% held by investment fund Fondul Proprietatea. In 2017, the company reported RON 1.126 billion (EUR 250 million) revenues and RON 13.9 million (EUR 3 mln) net profit.

(Photo source: Posta-romana.ro)