Romanian Post reports operating profit in Q4 2013, after restructuring and reorganization

Romania’s state-owned postal services company Romanian Post recorded an estimated operating profit of RON 15.1 million (EUR 3.4 million) in the fourth quarter of 2013, after it implemented restructuring and reorganization measures. “The projects aimed at increasing revenues and maintaining market share recorded the first effects of the company’s financial situation,” reads a statement of the company. According to the Romanian Post, the company kept its market share in 2013, operating since the beginning of last year under the complete liberalization of the postal market in Romania. The positive results reported for the fourth quarter of 2013 were mainly due to “the implementation of a series of measures taken by the new management to streamline and develop the activity, but also to optimize costs by restoring the balance between the volume of postal services and the number of employees,” reads the statement. At January 1, 2013, the company had a total of 32,887 employees. In August last year, the Romanian Post laid off 3,650 employees, 66 percent of them individually opting for this process. In late-December 2013, the company had 27,451 employees. According to the data provided by the Romanian Post, the company paid total taxes to the state budget of RON 240 million (EUR 54.4 million) in 2013. With an annual turnover of some RON 1.2 billion (EUR 269 million) and a network of over 5,600 units, the Romanian Post remains the largest postal services company in Romania. Irina Popescu, irina.popescu@romania-insider.com