Last year, the company's net profit amounted to €2.2 million, while turnover decreased by 5.1%. The Latvian Post turned over €105.35 million in 2021, the historically highest figure, and worked on losses of €1.2 million.
Following Russia's invasion of Ukraine and the sanctions imposed on the aggressor state, there is a sharp drop in shipments across several service groups. The flows of cross-border shipments with countries involved in the war are particularly affected.
The operation was also affected by the clearance arrangements laid down in the European Union as of July 1 2021 and by the tax on third-country consignments from the first cent.
LP saw increased revenue in freight transport and mail transit services last year.
The increase in transport costs was €1 million in 2022. Compared to 2021 figures, these costs increased by €1.4 million.
Last year, the company invested €3.1 million to expand the network of parcel machines. This year more parcel machines will be installed. This year, the company has purchased 105 new electric vehicles and 340 new cars for mail delivery purposes.
LP is a company wholly owned by the State, which employs around 2,700 employees.
