Russian Post Financial Performance

Main article: Russian Post

2023

Digitalization and online services helped Russian Post reach operating profit

The Board of Directors of Russian Post in mid-June approved the company's financial results for 2023. This year, it hit operating profit, reduced debt and stabilized its financial position. In particular, the company's revenue under IFRS increased by only 1 billion rubles and reached 223.1 billion rubles, but EBITDA increased by 22.9 billion rubles and amounted to 5.2 billion rubles. The company's net loss decreased by 23.2 billion rubles to -7.2 billion rubles. The company's debt also decreased by 18.1 billion rubles and reached 115.5 billion rubles.

𝓲

Russian Post

According to Mikhail Volkov, General Director of Russian Post, this financial situation is comfortable - no further increase in net profit is required, and the increase in turnover will rather be aimed at modernizing the company's logistics infrastructure and developing new services. Moreover, already now a third of the revenue was brought by sales through digital channels, the "E-mail" service and the "Subscription" service. Due to the introduction of new technologies, the company managed to increase labor productivity by 15% and increase "digital revenue" by 18.7% to 73.4 billion rubles.

𝓲

Mikhail Volkov

The use of digital technologies allowed Mail to reduce the time for receiving shipments to 30 sec. using QR codes, and shipments - up to 1.5 minutes. by automating data filling and parallel service. In addition, Mail began to use various automation systems: self-service kiosks, post offices and paperless processes. Mail excluded 35 paper processes from its work, which led to an increase of 40% in the delivery of electronic notifications, and by 50% to a decrease in paper consumption. "Post" already has about 1 thousand post offices, which will be placed in the zone of round-the-clock availability, and in the future the use of post offices will only increase.

𝓲

Maxim Tsypin

Mail is also engaged in the digitalization of its services. In particular, in 2023, 32% of messages were electronic or hybrid (when the message is sent electronically and the addressee is delivered in paper). In addition, Mail began to use online payment signs (QR codes) instead of standard stamps. Already 67 million letters were paid with the help of such an "electronic brand." Moreover, Post will continue to issue physical stamps, but rather for philatelists. In addition, the company began producing AR brands that can be seen using augmented reality technology.

𝓲

Anton Nechaev

"Post" is now actively developing and even will experience a shortage of qualified personnel of such specialties as drivers and sorters. Moreover, the company even began to master the technologies of unmanned vehicles, however, so far only on the territory of the Vnukovo sorting center. However, it is quite possible that unmanned main delivery projects will also be launched. The company also already has automatic sorting centers, and their use will expand.

Revenue growth by 1.7% to RUB 212 billion; net losses - 7.1 billion rubles

In 2023, the revenue of Russian Post reached 212 billion rubles, which is 1.7% more than a year earlier. Net loss amounted to 7.1 billion rubles, reduced by 3.8 times compared to 2022. Such data are contained in the financial statements (RAS), which the company disclosed on April 1, 2024.

The gross profit of Russian Post in 2023 amounted to 6 billion rubles against the loss of 9 billion rubles recorded in 2022. The company reduced debt obligations by 14 billion rubles.

𝓲

Unsplash

Revenues from postal services in 2023 reached 152.98 billion rubles (an increase of 0.1% compared to 2022), from trading activities - 26.8 billion rubles (-6.7%), from monetary mediation - 9.2 billion rubles (+ 6.2%), from other activities - 22.97 billion rubles (+ 26.4%).

According to Mikhail Volkov, general director of Russian Post, the company's losses decreased thanks to a set of events that continue by early April 2024. In particular, we are talking about reducing management costs and digitalization of some business processes, including in logistics and the work of operators in departments.

In 2023, we had to solve a non-trivial task - to deploy a company with accumulated debt and a loss by the end of 2022, facing our clients and employees - to maintain the state, social function and at the same time update branches, launch new services and modern services, raise wages, - said Volkov, whose words are quoted by the press service of Russian Post.

In 2023, Russian Post at its own expense updated 345 branches and modernized another 1282 rural branches in pursuance of the instructions of the President of the Russian Federation. In addition, in 2023, 68 new branches were opened and a logistics center was launched in Nizhny Novgorod.^[1]

2022

The Treasury revealed a financial hole in the Russian Post for 24.5 billion rubles. One of its reasons is poor-quality IT systems

At the end of November 2023, the Federal Treasury of the Russian Federation published the results of an audit of the activities of the Russian Post. According to the Treasury, the "size of the negative impact on the financial result" of the postal company amounted to 24.5 billion rubles. The authors of the report cited the following as the reasons for such a financial hole:

• the company lost revenue as a result of improper operation of the group's IT systems;
• 10.2 million rubles amounted to lost profit as a result of the ineffective organization of the retail business and non-fulfillment of the sales plan;
• the possibility of leasing objects was not provided for by the previous management team of Russian Post, while the cadastral valuation of the property block amounted to 10.5 billion rubles;
• the company rented an office complex with the actual downtime from 2021 of the old headquarters of the group's head office on Varshavskoye Shosse;
• the remuneration fund (PHY) of the management apparatus increased by 13%, and the group's subsidiaries by 186% if there is duplication of management functions
• the loss was brought by the company's participation in National Logistics Technologies JSC and the construction of 10 logistics centers for the needs of Russian Post with a total value of 21.9 billion rubles;
• the profitability of purchases was not justified;
• the company implemented unprofitable projects, in particular, the installation of checkpoints.

The Federal Treasury of the Russian Federation published results of audit of activity of Russian Post

According to the results of the audit, the Treasury proposed to establish external control over the implementation of the financial recovery plan until 2025 and to adjust it. At the end of September 2023, the Chairman of the Federation Council Valentina Matvienko announced a growing financial hole in the Russian Post. According to her, if the government does not pay attention to the situation and does not take action, then the hole will turn into a hole "where everything will fail."^[2]

Russian Post debt reaches 133 billion rubles

On July 18, 2023, 2023, it became known about the large debts of the Russian Post. To get rid of them, the company is forced to launch a cost optimization program.

2022 became, I am not afraid of this word, catastrophic for the "Post." "Post" received a record loss - more than 30 billion rubles, a large accumulated debt - 133 billion rubles, while most of this debt has no sources of repayment and repayment, - said the general director of the company Mikhail Volkov, who headed the Russian Post in January 2023 (quoted by Interfax).

"2022 has become, I'm not afraid of this word, catastrophic." Russian Post debt reaches 133 billion rubles

According to him, interaction with creditors helped to avoid default, but the situation remains difficult: only debt servicing, including leasing payments, requires a state corporation 16 billion rubles a year. Volkov recalled that even in the best years, the company did not earn so much money to cover interest. By mid-June 2023, Russian Post lost a significant part of its revenues due to the loss of cross-border trade and mail with several countries.

The fact is that in the first half of the year alone, the company was obliged to pay more than 30 billion rubles for external obligations. And if nothing were done, in May we would have run out of money to pay salaries. We successfully agreed with all creditors, - said Volkov, adding that by mid-July 2023 the company managed to reduce 3 billion rubles of debts.

Mikhail Volkov also spoke about the launched financial recovery program of the Russian Post, which involves getting rid of ineffective costs.

We optimized managers by 20% in the country as a whole. If we talk about the central apparatus, here in Moscow in fact we cut our costs by 25%, - he said.

Volkov added that Russian Post expects to increase revenue through new services, primarily in the field of e-commerce, as revenues from traditional services fall.^[3]

Khinshtein: Top managers of Russian Post will not receive millions of bonuses, paying them would be immoral

The Board of Directors of Russian Post at its meeting on July 18, 2023 unanimously voted against the payment of "bonuses" to the leadership of the state-owned company in 2022, State Duma deputy Alexander Khinshtein said in his tg-channel.

In conditions when the post office is going through difficult times, it is unacceptable and even immoral to additionally pay millions to its top managers - the deputy added

First losses in 9 years - 27.22 billion rubles

In 2022, Russian Post for the first time in 9 years received a net loss under RAS - it amounted to 27.2 billion rubles. In 2021, the postal operator registered a net profit of 259.99 million rubles. This is evidenced by the data released at the end of March 2023.

According to Interfax, citing materials from the Russian Post, its revenue in 2022 amounted to 208.44 billion rubles, having decreased by 4% compared to the previous year. Revenues from postal services amounted to 152.78 billion rubles (-8.4% by 2021), from trading activities - 28.78 billion rubles (+ 4.1%), from monetary mediation - 8.7 billion rubles (-1.3%), from other activities - 18.18 billion rubles (+ 31.4%).

In 2022, Russian Post for the first time in 9 years received a loss under RAS

The loss from sales in 2022 amounted to 21.87 billion rubles against a profit of 8.29 billion rubles in 2021. The loss before tax amounted to 31.63 billion rubles against the profit of 920.39 million rubles in the previous year.

According to the data provided by the press service, the company's operating costs for the year increased by more than 16 billion rubles, as, in particular, the costs of logistics and the cost of servicing equipment increased.

Due to the suspension of global brands in Russia, difficulties with payments and transport restrictions, the flow of both incoming and outgoing international mail has significantly decreased. The company's revenue in the cross-border segment decreased by 11.4 billion rubles, the press service said.

According to Mikhail Volkov, General Director of Russian Post, quoted by the press service, the company managed to ensure the stable operation of the post office network and the entire logistics complex during this transition period.

We are ready to work in new realities in order to increase the financial stability of the company, increase revenues and maintain the social responsibility that is entrusted to us, he added.[4]

2021

Digital revenue growth of 42%

At the end of 2021, the digital revenue of Russian Post increased by 42% compared to 2020 and reached 52.8 billion rubles, which is 24.3% of the company's total turnover in 2021. Representatives of the Russian Post reported this to TAdviser on April 25, 2022. The main growth drivers, according to the company's estimates, were the pochta.ru portal and the B2B services of the Post, which accounted for more than 50% of revenue from all digital products.

Digital revenue of Russian Post increased by 42% over the year
Photo: press service of the UFPS of the Murmansk region - Russian Post JSC/ mvestnik.ru

Digital revenue includes revenues from transactions initiated in online mail channels. This is an integral indicator of the company's digitalization, explained in the "Post." Its growth was significantly affected by the increase in the convenience of services. For example, in 2021, the company launched a service of electronic powers of attorney, which allows you to draw up a document "in numbers" in a few minutes. Also, B2B customers wishing to send written correspondence have the opportunity to initiate the conclusion of an agreement online. In addition, from 2021, Post customers, paying for parcels on the website and in the mobile application, receive bonuses in the amount of 5% of the delivery cost.

Almost twofold growth during the reporting period was shown by the services of digitization of correspondence and registered emails. If in 2020 Russian Post delivered 13 million fully electronic items (received from the sender and delivered to the addressee electronically), then in 2021 their number increased to 24 million.

In 2021, the company updated the portal and mobile application. The main page of the company's website has completely changed, becoming clearer for customers, and stories have appeared in the application that talk about new promotions and services of the Post.

"The growth of digital revenue is an important marker of the transformation of the Mail. This year it is a quarter of the total turnover. We plan to bring this figure to 50% in the coming years, "said Maxim Akimov, General Director of Russian Post.

Revenue growth by 2.8% to RUB 217.0 billion

On April 4, 2022, Russian Post published its financial results for 2021. The revenue of Russian Post under RAS in 2021 increased by 2.8% compared to 2020 and amounted to 217.0 billion rubles. In 2021, Post received a net profit of 0.3 billion rubles.

Russian Post increased revenue by 2.8% over the year

According to the company, the dynamics of EBITDA was influenced by the growth of the company's revenues while reducing operating costs: in 2021, the revenue of Russian Post increased by 6.0 billion rubles, and expenses decreased by 0.2 billion rubles. As a result, EBITDA increased by 6.2 billion rubles. (or 88.4%) - from 7.0 billion rubles. in 2020 to 13.2 billion rubles. in 2021. At the same time, EBITDA margin increased by 2.8 pp to 6.1% in 2021.

The main income item of the Post, which accounted for 76.8% of total revenue in 2021, is the provision of postal services (sending written correspondence, parcels and EMS items). The company received another 12.7% of revenue through trading activities. This includes sales of goods in the offices of the Russian Post, as well as subscriptions to periodicals. At the end of 2021, revenue from postal services increased by 2.2% from 163.1 billion rubles. up to 166.7 billion rubles, and revenue from trading activities increased by 6.7% from 25.9 billion rubles. up to 27.6 billion rubles.

"In 2021, we increased revenues in the main areas of business - the delivery of letters, parcels and express shipments. And the development in post offices of retail areas has increased revenue from the sale of goods under its own brand. At the same time, we did a lot of work to optimize costs, the result of which was an almost twofold increase in EBITDA and a noticeable increase in EBITDA margin, "commented Vladimir Muzhelsky, director of the economics department of Russian Post in 2021.

IFRS: Revenue increased 8% to RUB 228.1 billion

In 2021, the consolidated revenue of the Russian Post under IFRS amounted to 228.1 billion rubles, which is 8.2% more than a year earlier. EBITDA grew by 43.9% to RUB 20.0 billion. In the reporting year, the company received a net profit of RUB 1.5 billion.

The growth of consolidated revenue was influenced by an increase in revenue from the provision of postal services (including forwarding of written correspondence, parcels and EMS shipments) from 123,8 billion rubles. in 2020 up to 132.4 billion rubles. in 2021, increase in revenue from other sales from RUB 15.1 billion in 2020 to 23,RUB 3 billion in 2021 due to the growth of income of subsidiaries, as well as an increase in revenue from the sale of goods from 25.9 billion rubles. in 2020 to 27.2 billion rubles. in 2021

EBITDA The company managed to achieve high growth rates due to control over operating costs. As a result, consolidated EBITDA grew from RUB 13.9 billion in 2020 to RUB 20.0 billion in 2021.

2020

Revenue growth up to 210.7 billion rubles, digital revenue - up to 37.2 billion rubles

On April 30, 2021, Russian Post shared with TAdviser an updated report on the results of 2020, in which it presented adjusted indicators. In accordance with the document, the consolidated revenue of the federal postal operator amounted to 210.7 billion rubles (209 billion rubles according to the initial estimate of the Post), which is 1.9% more than in 2019; digital revenue (revenues received from the sale of services through digital channels) increased by 76% to 37.2 billion rubles (according to the initial estimate, this figure was stated at 35 billion rubles); the company's net profit increased 3.2 times and reached 3.4 billion rubles (initially this figure was indicated at 69 million rubles).

The main factors that influenced the growth of consolidated revenue, according to Russian Post estimates - an increase in income from postal services (including the forwarding of written correspondence, parcels and EMS items) by 1.5% (up to 123.8 billion rubles), 2.1% increase in revenue for the provision of pension and benefits services (up to 31.2 billion rubles) and an increase in revenue from the sale of goods by 4.5% (up to 25.9 billion rubles). At the same time, commissions for the provision of services for receiving utility and municipal payments, as well as electrical and cellular services, decreased by 6.8% (to 6.9 billion rubles) and commissions for the provision of money transfer services decreased by 12.8% (to 3.6 billion rubles).

EBITDA amounted to 15.6 billion rubles against 19.0 billion rubles a year earlier. The dynamics of the indicator, according to the estimates of the postal operator, was influenced by the additional costs of protective measures against coronavirus infection, as well as the growth of the wage fund. In November 2020, Russian Post completed a large-scale increase in wages for the main production personnel, which started back in 2019, which affected 264 thousand employees. The total amount of additional annual labor costs as a result of these measures on an annualized basis amounted to 12 billion rubles. The increase in operating expenses was offset by an increase in financial revenues from 1.9 billion rubles to 7.4 billion rubles.

According to preliminary data presented by the postal operator in January 2021, in 2020, the revenue of Russian Post, received through digital channels, amounted to 35 billion rubles, an increase of 77% compared to the previous year.

We are talking about income from digital products of the Russian Post, which include an online service for sending letters and parcels for online stores, a pochta.ru website and a mobile application, as well as a service for e-mail.

The sign of online payment began to gradually displace pasted stamps, more than 700 thousand letters, this is not very much yet, but more than 1 thousand companies in January from the segment of SMEs [small and medium-sized businesses - approx. TAdviser] use online payment in letters, - said the head of the Russian Post Maxim Akimov at a press conference in TASS, commenting on the financial performance of the company.

Digital revenue of Russian Post for 2020 increased by 77%

According to him, Russian Post is generally actively growing e-mail services. The total number of customers identified in the company's systems reached 35 million people. Russian Post intends to enter the top three largest client resources of the country along with financial organizations, Akimov said.

The total revenue of Russian Post in 2020 reached 209 billion rubles against 206.86 billion rubles a year earlier. Net profit amounted to 69 million rubles, while in 2019 it was measured at 3.01 billion rubles. What caused such a strong reduction in profits is not specified.

It follows from the presentation of the Russian Post that in 2020 the company processed 220 million international shipments through cross-border trade channels. Russian Post did not disclose this figure for 2019, in 2018 it amounted to 345 million units. Maxim Akimov noted that orders of small packages flowed from the cross-border to the domestic market, calling this a challenge for the Russian Post^[5]

Digital revenue of Russian Post grows thanks to COVID-19 pandemic

The digital revenue of Russian Post will grow by 10% in 2020, thanks to the COVID-19 pandemic. This was announced on September 24, 2020 by the general director of the Russian Post Maxim Akimov.

The company's digital revenue at the end of 2020 will be 10% more than in 2019. It will amount to about 22-25 billion rubles. In many ways, such an increase in the company's digital revenue in 2020 was influenced by the pandemic. In general, the revenue of Russian Post in 2020 will grow by 2-3% compared to 2019, - said Maxim Akimov.

Note that in 2019, Russian Post received more than 21 billion rubles in digital revenue. By it, according to Akimov, the company understands the proceeds from operations made through digital channels - the application, site and digital identification of the client.

2019

Revenue - 206.86 billion rubles (+ 9%), net profit - 3.01 billion rubles (+ 14 %)

In 2019, Russian Post received revenue of 206.86 billion rubles, which is 9% more than a year earlier. Net profit during this time rose by 14% and reached 3.01 billion rubles.

The main income items of the Russian Post in 2019 were the following:

Key financial indicators of Russian Post

• parcels and EMS shipments (they accounted for 69.27% of revenue);
• financial services (47.1%);
• written correspondence (45.68%);
• retail (19.42%);
• subscription and transactions with periodicals (8.9%).

Russian Post distinguishes into a separate category the digital revenue received from the sale of services through digital channels (the pochta.ru portal and the Russian Post mobile application, the otpravka.pochta.ru portal). In 2019, such revenue exceeded 21 billion rubles, which is almost 10% of the company's total income.

The monthly audience of the Post application at the end of 2019 exceeded 6 million users. The mobile application has high ratings from users on both sites: 4.7 - the rating of App Store users, 4.8 - Google Play, the postal operator notes.

In 2019, 2.1 million tons of cargo were transported by Russian Post, which is 6.7% more than in 2018. 436 million parcels and EMS items were delivered.

Compared to 2018, actual investment expenses in 2019 increased by 27% and amounted to 21.969 billion rubles. One of the main areas of investment was the modernization of the postal logistics infrastructure.

It also follows from the financial report that Russian Post has implemented two stages of a large-scale program to increase wages: wages have been increased for about 138 thousand employees of post offices. At the end of 2019, the company employed a total of more than 331 thousand people, or 1.5% less than in 2018.^[6]

Earnings of 21 billion rubles on digital services

Post in Russia 2019 earned 21 billion rubles on digital services against 7 billion rubles a year earlier. By 2024, it is planned to increase revenues from digital solutions to 157 billion rubles, said "" To sheets Deputy General Director for Information Technologies "Russian Post." Sergey Emelchenkov

According to him, by 2024, digital products will account for about half of Post's revenue, while in 2019 this share was measured at 10%. By the beginning of 2020, this direction brings the postal operator about 2 billion rubles of monthly revenue, and Internet traffic reaches 20 million visitors per month.

Russian Post in 2019 earned 21 billion rubles on digital services against 7 billion rubles a year earlier

Emelchenkov says that to implement the plan to increase revenues from digital services, about 47 billion rubles will be invested in the development of new product solutions.

In 2019, about 13.7 billion rubles "Post of Russia" brought an online service for sending letters and parcels for large organizations and online stores. Another 4.1 billion rubles "Russian Post" earned through the services of online registration and mass sending of parcels for individuals, and 3.41 billion rubles - thanks to the service of e-mail.

As the newspaper notes, Russian Post is expanding digital sales channels - for example, in the fall of 2019, the company launched a service for sending purchases in online stores to its branches, as well as its own and partner posts and points of issue of orders. In total, digital services in 2019 had 61 million users.

Russian Post plans to distribute demanded state and socially significant online services and services on the basis of its branches. Services will be provided online with the provision of the necessary infrastructure. Information support on the ground and assistance in obtaining services in online format will make it possible to make an organic transition from traditional forms of obtaining services to digital.^[7]

2018: Revenue of 190.4 billion rubles (+ 7 %)

The revenue of the Russian Post from operating activities in 2018 increased by 7% and amounted to 190.4 billion rubles (178.1 billion rubles in 2017). The actual net profit of the Russian Post was 3.5 times higher than in 2017 and amounted to 2.7 billion rubles. A record profit in the history of the enterprise was made possible by such factors as cost reduction, an increase in income from settlements with foreign postal administrations, an increase in the efficiency of the retail business and an increase in income from the activities of Post Bank.

Revenues of the Russian Post increased in the following areas of business: revenue from the postal business increased by 7% from 77.8 billion rubles. in 2017 to 82.9 billion rubles. in 2018, revenue from the parcel business increased by 16% from 48.9 to 56.9 billion rubles.

In 2018, the Russian Post processed a total of 433.3 million items with commodity investments, including 345.3 million items from abroad, which is 18.8% and 21.7% higher than in 2017. The volume of domestic mail with commodity investments in 2018 increased by 8.6% and amounted to 88 million units.

Over the past year, Russian Post has paid great attention to the development of logistics capacities. Together with VTB Bank, National Logistics Technologies JSC was created, which will form a network of 38 modern sorting centers throughout the country. In 2018, the construction and equipment of the first of 38 centers with the possibility of providing fulfillment services, Vnukovo-2, was completed, the launch of which will significantly reduce the delivery time for shipments in the capital region.

In 2018, 107 new mail cars were purchased, which run both as part of passenger trains and as part of a mail train on the route MoscowVladivostok-. Two of the Russian Post's own aircraft, Peter I and Catherine II, made more than 460 flights in 2018. In 2018, the total flight time of two of its own Tu-204S aircraft was 5,027 hours (an increase of 27% compared to 2017). Two aircraft transported from China 4 Russia million kg of parcels.

In 2018, Russian Post entered a phase of active digital transformation. A number of traditional postal services were digitized, which helped increase the productivity of employees of the enterprise. In 2018, it became possible to receive mail without presenting documents and filling out paper notifications. At the end of 2018, 14.7 million Russians were registered users of digital services of the Russian Post. Revenue from the operation of digital channels in 2018 amounted to 6.8 billion rubles.

Russian Post continued to work on improving the quality of services provided to Russians and improving the working conditions of employees. The company repaired more than 3 thousand post offices. Average wait times at post offices dropped from 11 to 5.5 minutes. At the same time, the number of complaints on the queue has decreased three times.

"One of the priority tasks of the enterprise is to improve the working conditions of employees. The growth rate of wages of Russian Post employees in 2018 was almost 2 times more than in 2017. Compared to 2017, it amounted to 7% - from 21.7 to 23.2 thousand rubles, "said Nikolai Podguzov, General Director of the Russian Post

In 2019, a large-scale program will be launched to increase the salaries of employees of the main production to the average market level of each region in comparable professions. 11.5 billion rubles will be allocated for the implementation of the project within 1.5 years. It is divided into 4 stages, the first of which starts in May, and the second - in November of this year. As a result of the implementation of this program, the salaries of Russian Post employees will grow by an average of 20%.

2017: Russian Post revenue increased 8.1% in 2017

The revenue of the Russian Post from operating activities in 2017 increased by 8.1% (13.3 billion rubles) and amounted to 178.1 billion rubles (164.8 billion rubles in 2016). Revenues of the Russian Post increased in all areas of business. Revenue from the postal business increased by 2% from 76 billion rubles. in 2016 to 77.8 billion rubles. in 2017, revenue from the parcel business increased by 21% from 40.6 to 48.9 billion rubles, and revenue from the financial business by 4% from 46.5 to 48.3 billion rubles.

The improvement in the financial indicators of the Russian Post in 2017 compared to the previous year was due to an increase in the efficiency of operations and an increase in the average monthly output per employee by 8.8% (from 43.2 thousand rubles in 2016 to 47.0 thousand rubles in 2017), including due to an increase in the volume of mail.

The actual net profit of the Russian Post was 28% higher than planned and amounted to 758 million rubles. At the same time, the wage fund increased by 5.1 billion rubles as a result of an increase of 3.8% in the average salary of employees in 2017 compared to 2016 from 20.9 to 21.7 thousand rubles. Personnel costs account for 58% of all costs in the company's cost structure.

The planned indicators for increasing the availability of facilities and services in the field of postal communications, set by the Government of the Russian Federation before the Russian Post for 2016-2017, are being fulfilled by 100% and in a short time, the federal postal operator said on August 10.

Our main task is to ensure the full availability of postal services for people with disabilities, to make our post offices convenient and barrier-free. This will increase the quality of life and open up new opportunities for this category of citizens, "said Nikolai Podguzov, Director General of the Russian Post.

The program for creating an accessible environment was developed by the Russian Post in accordance with the order of the Ministry of Telecom and Mass Communications of the Russian Federation, which determines the procedure and conditions for ensuring unhindered access of people with disabilities to facilities and postal services. As a result of its implementation throughout the country, more than 1,800 Russian Post offices have become available. Over 39 thousand post offices serve people with disabilities at home.

The official website of the Russian Post contains information on the adaptation of post offices for people with limited mobility and other categories of people with disabilities. Hearing and vision impaired people, as well as people with limited mobility, can independently use postal services by previously selecting a post office (OPS) closest to their home on the Russian Post website, provided with conditions for serving citizens with disabilities. Also indicated are OPS, providing people with disabilities, at the request of the client, postal services at the place of residence or remotely.

According to the Post, accessible offices are equipped with convenient entrance ramps and are designed for the free movement of wheelchair users inside the room, as well as equipped with inscriptions made in large print for visually impaired people. At the request of the visitor, post office operators will duplicate visual and audio information and provide all necessary assistance. These rooms are allowed to enter with guide dogs. In all other post offices with employees, an additional briefing was held on the procedure for providing services to people with disabilities.

All post offices planned for the opening will meet the modern requirements of an accessible environment designed to serve people with disabilities. It is assumed that as part of the implementation of the targeted program for the adaptation of facilities and postal services for 2017, the number of post offices available to people with disabilities will reach 2040 by the end of the year.

2016: Revenue growth by 10.7% to RUB 164.8 billion

Net profit of the Russian Post in 2016 amounted to 1.734 billion rubles, which is 10% (156 million rubles) more than in 2015 (1.578 billion rubles). Russian Post revenue from operating activities in 2016 increased by 10.7% (RUB 15.9 billion) to RUB 164.8 billion (RUB 148.9 billion in 2015).

Revenue rationale

• The main drivers of revenue growth were the parcel business. Substantial revenues were also brought by the postal business.
• An important factor in revenue growth is the growth of mail due to the development of online commerce.

In 2016, more than 225 million international shipments with commodity investments were processed, which is almost 2 times higher than last year's figure (128 million shipments) and more than 10 times - the 2012 figure (21.7 million shipments). The volume of postal exports increased by a third compared to 2015.

In 2016, according to an analytical study by the Association of Internet Trade Companies (AKIT) in the e-commerce goods delivery market (including shipments from foreign online stores and delivery in the domestic market), 62% of buyers entrusted the delivery of their mail to Russian Post. This is 11 percentage points higher than in 2015 - 51%.

The AKIT study notes that the volume of the domestic Internet trade market in 2016 increased in units by 6% compared to 2015, and the cross-border trade market - by 102%. In 2016, Russian Post processed 225 million international shipments with commodity investments, which is almost 2 times more than in 2015 - 128 million shipments.

In general, in 2016, the Russian Post processed 296 million mail items with a commodity investment (collectively: domestic and foreign), which is more than 1.5 times higher than last year's figure - 194 million units.

At the same time, due to automation and optimization of processes, labor efficiency and productivity increased. The increase in the average monthly output per employee for 9 months of 2016 compared to the same period in 2015 amounted to 7% (from 39.2 thousand to 41.8 thousand rubles per month).

The average daily volume of processing of international shipments increased 30 times compared to 2013 (from 50 thousand during the 2013 collapse to 1.5 million during the peak period of 2016)

It is important that the quality of delivery improves with the growth of labor productivity. Compliance with letter delivery benchmarks rose from 54% in 2013 to 85% in 2016, and compliance with parcel delivery benchmarks rose from 52% in 2013 to 95% in 2016. For the period from 2013 to 2016, the number of claims per 1,000 shipments decreased by 9 times (from 0.36% in 2013 to 0.04% in 2016).

At the end of 2016, the revenue of the Russian Post from retail sales exceeded 17 billion rubles, which is 14% more than in 2015. Net income (revenue less purchase cost) of the enterprise from retail also increased by 14% and amounted to about 6 billion rubles.

The largest increase in revenue was demonstrated by the "postal" categories of goods, which are given priority in the assortment of post offices: sales of unmarked envelopes increased by 66%, stationery and paper-white goods showed a significant increase (by 60%), sales of book products increased by more than a third (35%), by 13% - periodicals. Sales of essential goods in demand in post offices in rural areas and small towns were actively growing, for example, the sale of household chemicals, cosmetics and personal hygiene products increased by 30%.

Profit justification - In 2015 and 2016, the Russian Post did not receive subsidies from the state.

Since 2013, the average salary has grown by 25.4% and reached 20.9 thousand rubles. For 3.5 years, the Post has allocated more than 22 billion rubles to increase salaries. For example, in 2016, the Russian Post sent 8.3 billion of which: 7.4 billion rubles - to increase wages to employees of the main production (employees of post offices, drivers, as well as production personnel of post offices and logistics centers), and 900 million - to implement a new system of bonuses for employees of post offices. Wage growth - by 11%. This significantly exceeds the rate of inflation. The growth of wages of the "Post of Crimea" - this is a separate FSUE - reached 23.2 thousand rubles, which is 27.7% higher than in 2015.

2015: Net profit growth by 28% to RUB 1.5 bn

The net profit of Post Russia in 2015 amounted to 1.578 billion, rubles which is 28% (343 million rubles) more than in 2014 (1.235 billion rubles). The revenue of the Russian Post in 2015 increased by 6% (8.6 billion rubles) and amounted to about 149 billion rubles (140.4 billion rubles in 2014).

The revenue of the Russian Post increased in all key business areas: postal business (+ 4%), parcel business (+ 19%), financial services (+ 2%). Income from the property complex increased by 5%. Over the year, the share of Russian Post in the parcel market (CEP) increased by 12% to 51%, and in the written correspondence market by 1% to 83%.

The improvement in the Russian Post's financial performance is due to an increase in the efficiency of operations and an increase in the average monthly output per employee by 7% (from 37 thousand rubles in 2014 to 39.6 thousand rubles in 2015), including due to a constant increase in the volume of incoming international mail.

According to the results of 2015, the Russian Post processed 128 million international mail [1] - this is 64% more than in 2014 and 3 times more than in 2013. At the same time, the number of complaints from customers is continuously decreasing: at the end of 2015, the number of complaints through all appeal channels decreased by 55% compared to 2014.

The company's net profit growth was impacted by a 3% reduction in production costs from RUB 27.5 billion in 2014 to RUB 26.6 billion in 2015. This is largely due to an increase in the efficiency of procurement procedures and the continuation of the reform of the logistics infrastructure. From 2013 to 2015, the cost of one conditional shipment decreased by 8.3% (from 1.06 rubles to 0.97 rubles). At the same time, compliance with the parcel delivery standard increased from 65% in 2013 to 93.3% in 2015.

At the end of 2015, the revenue of the Russian Post from retail sales exceeded 15 billion rubles, which is 6% more than in 2014. Net income (revenue less purchase cost) of the enterprise from retail increased in 2015 compared to 2014 by 16% and amounted to about 5.3 billion rubles.

2014: Revenue growth 5.5% to RUB 140 billion, net profit 1.2 billion

In 2014, Post's revenue increased by Russia 5.5% compared to 2013 and amounted to 140.4 billion. rubles At the end of 2013, this figure amounted to 133.1 billion rubles. The average salary at the enterprise in 2014 increased by 11.4% to 18.6 thousand rubles per month.

The labor productivity of employees of the Russian Post also increased. At the end of 2014, this figure reached 37 thousand rubles per month per employee, which is 6% more than in 2013.

The net profit of FSUE Russian Post in 2014 amounted to 1.2 billion rubles against 24 million in 2013.

A reduction in the time for passing written correspondence in Russia was recorded. The average delivery time for international mail has been reduced. In 2014, actual delivery times in Central Russia averaged 7-10 days, in the country - 15-20 days. Two years earlier, the average delivery time for international packages was 1.5-2 months. The situation with the timing of sending EMS mail has also improved.

2013: Revenue growth of 3.2% year-on-year

The company's revenue increased by 4.1 billion rubles. (3.2%) and reached the value of 133.1 billion rubles.

Revenues from postal services amounted to 51.8 billion rubles, exceeding the level of 2012 by 7%. Revenues from parcels and express delivery increased by 10% and amounted to 17 billion rubles. The volume of incoming international shipments increased by 94%, their number amounted to 170.6 million shipments per year. At the same time, the high-margin segment of financial services showed a decrease of 0.6 billion rubles (1.3%) due to the outflow of customers to the banking sector.

Taking into account the social burden of the enterprise (net loss from the provision of universal communication service (CCD), loss of income for the distribution of periodicals and functioning in the regions of the Far North amounted to about 5.5 billion rubles in 2013), expenses for the same period increased by only 1.8 billion rubles (1.3%). If the state subsidies remained at the level of 2012, RUB 5.4 billion, the comparable EBITDA should have amounted to RUB 7.1 billion.

At the same time, the actual EBITDA indicator was influenced by the decision of management to increase (for the first time in three years) wages for employees in 17 cities with a population of one million, which led to additional expenses in the amount of 1.3 billion rubles. At the same time, the level of state support decreased by 0.7 billion rubles. - due to compensation for subscription. As a result, EBITDA decreased by RUB 0.8 bln to RUB 5.1 bln.

Operating cash flow improved and amounted to 9.1 billion rubles, which is 2 billion rubles higher than last year (28.2%) due to the optimization of the investment portfolio.

2012: Revenue and net income growth

According to the official message of the Russian Post, at the end of 2012, revenues per post office increased by 7% (to 258 thousand rubles per month). The total revenue of the federal postal operator also increased by 7% over the year and amounted to 129 billion rubles. Net profit increased by 2%, to 813 million rubles, and investments - by 31%, to 11.2 billion rubles.

Russian Post independently compensated for losses uncovered by the state from the provision of socially significant services at tariffs below cost: 1.9 billion rubles. - for public postal services in the Far North, 2.8 billion rubles. - for subscription services, 1.2 billion rubles. - for a universal communication service for data transmission and Internet access, 3.5 billion rubles. - for the service of delivering pensions and other social benefits. 8.6 billion rubles. the company sent to cover losses from the maintenance of 28 thousand unprofitable rural post offices.

Almost 47% (against 44.7% in 2011) of revenue were brought by postal services, the income from which increased by 12% and amounted to 60.3 billion rubles. Revenues from financial services and payments of pensions and benefits increased by 3.4% and amounted to 47 billion rubles. - 36% of total revenue. The block of commercial services brought the enterprise about 21.6 billion rubles more.

During 2012, the company provided 1.636 billion units of written correspondence, exceeding the previous year's figure by 7%, and almost 53 million parcels.

2011: Sales growth plan to RUB 118.2 bn

In 2011, according to forecasts (January 2011), Post's income growth Russia will be 12% (to the level of 118.2 billion rubles), labor productivity growth − 17%, and average wage growth at the enterprise − 12%.

In 2011, the federal postal operator planned investment in the amount of 14 billion rubles. With an increase in comparison with 2010 by 73% and an emphasis on four areas: the construction of the ASC, the modernization of front offices, the modernization of logistics and the introduction of modern innovative technologies.

In 2011, the company will continue to implement the concept of innovative development developed by the company, within the framework of which such areas of work as: automation of the main production processes (creation of the ASC), creation of a single complex of transport and logistics systems based on/, GLONASS etc GPS.

In 2011, special attention will be paid to the preparation for corporatization of the enterprise and the further development of the project for the creation of the "Postal Bank of the Russian Federation," as well as the transformation of the organizational structure of the "Russian Post" with the allocation of key areas of the enterprise's activities into separate business units in order to increase the efficiency of the commercial development of the federal postal operator.

2010:57% increase in net profit to RUB 480 mln

In 2010, Russian Post continued the positive development dynamics started in 2009, which was expressed in revenue growth amounting to RUB 105.4 billion, labor productivity improvement, restoration of the investment process and modernization of the postal infrastructure, as well as a significant increase in the financial result. Net profit in 2010 reached 480 million rubles, 57% higher than in 2009.

• 41% of the revenue "Russian Post" was received from the provision of postal services,
• 37% of − from the provision of financial services,
• 2% − from express delivery, and
• 20% − from retail and other network services.

The most active growth, as in 2009, was shown by traditional leading services. Among them:

• postal service "Departure of the 1st class" (revenue growth 35%, volumes - 30%),
• express delivery EMS Russian Post (revenue growth 56%, volumes − 41%), as well as
• a prospective financial service − accepting payments in favor of third parties (an increase in the number of accepted payments - 5%, the volume of accepted payments - 26%).

At the end of 2010, the presence of Russian Post expanded in a number of highly competitive markets. For example, the share of the federal postal operator in the express delivery market increased to 20%, and the share in the financial services market in the payment receiving segment − to 22%.

In general, according to expert estimates, the company currently ranks 1st in the postal services market in terms of sales volume, 14th in the financial services market in −, and 27th in the retail market in −.

In addition, it is noted that the productivity of Russian Post employees increased by 17% in 2010. Investments of the federal postal operator increased by 60% (to 8.1 billion rubles). Of these, 13% were allocated to the creation of a network of automated sorting centers, 29% − equipment upgrades, 29% − technological and information and communication infrastructure upgrades, 11% − fleet upgrades and logistics upgrades, 18% for the reconstruction of postal facilities and re-equipment − OPS.

In 2010, Russian Post launched a number of new commercial projects: a new Fast and Furious product has been introduced to the market − an urgent transfer of funds from point to point in less than an hour (the service is already available in a third of post offices, and in 2011, as planned, it will be provided in half of the OPS), the implementation of mobile phones has begun within the framework of the comprehensive Mobile Mail project, which also includes accepting payments for cellular communications and the Internet, issuing contracts for cellular operators, as well as the implementation of payment cards.

The organization of public access points to public services on the basis of post offices of the Russian Post became a highly sought-after decision, since the adoption by the State Duma of the Federal Law of July 27, 2010 No. 210-FZ "On the Organization of the Provision of State and Municipal Services" eliminated the rule on the provision of these services only with the personal appearance of the applicant to the executive bodies of state power and local self-government.

The extensive and geographically distributed network of front offices of the Russian Post, including 42 thousand postal facilities, almost 60% of which are equipped with PKD, allows in the future to ensure almost 100% availability of public services for all citizens of the Russian Federation without exception, including those living in remote and inaccessible settlements.

Notes