E-commerce promotes growth of Omniva’s turnover
According to the audited economic results confirmed by AS Eesti Post board on March 27the logistics company’s Omniva sales revenue grew by 7% last year, and the main engine of the growth were e-commerce related services. Omniva consolidated net income was 1,3 million euros in 2014.
In 2014 Omniva revenues were 59.9 million euros in total. “The business revenues growth was most affected by the increase in the volumes of logistics services, where a crucial part was played by network expansion of the parcel machines in the Baltic States and also the increase in parcel machine services and e-commerce volumes,” said Omniva’s chairman of the board Aavo Kärmas.
In the year 2014 the company significantly expanded the parcel machines network in Estonia and Latvia. After the expansion Omniva has 189 parcel machines in the Baltic States, from which 98 are located in Estonia. The parcel machine services grew in volume by 38% in Estonia, 198% in Latvia and 177% in Lithuania. “These numbers show that the customers have also embraced Omniva’s novel solutions,” said Kärmas.
If Omniva turnover grew by 7% as a whole during the last year, then the logistics services grew by 15%. Advertisement services turnover grew by 11%, periodical services turnover grew by 3%. During the last year Omniva intermediated over 11 million sales and purchases invoices. The percentage of e-invoices from all intermediated invoices grew to 40%.
In contrast the letter service volumes are steadily decreasing. In 2014 the domestic letter service turnover decreased by 8%. According to Kärmas the pervasive trend on the market is that the business correspondence is moving towards electronic channels. Somewhat surprisingly the incoming (19%) and outgoing (23%) international mail volumes grew, where we might also see the effects of e-commerce Kärmas estimated.
According to Kärmas, the year 2014 will mark the breakpoint in the company’s history where international letters and small parcels made up a larger part of the company’s turnover than domestic shipments. “It can be said that the national postal company became an international logistics company during the last year,” said Kärmas.
Small items arriving to Estonia from abroad come mainly from China, the United Kingdom, Finland, Germany, Hong Kong and the United States. Compared to the year 2013 for instance, the postal shipments arrival amount from China increased by 70%. The main destination countries for sending from Estonia to abroad are Finland, Germany, Norway, Sweden and the United States. Compared to the year 2013 last year’s shipments volumes grew to all countries.
Omniva consolidated net income was 1,3 million euros in 2014. 45% of the costs were made up by labour costs. Labour costs grew by 9% compared to the last year, the growth was mainly caused by the rise in entry level employees’ salaries by 8% on average in Estonia. Also a significant effect was made by the group’s expansion to the Baltic States and the addition of new employees to the subsidiaries.
Eesti Post’s Latvian subsidiary SIA Omniva’s sales revenue grew by 240% compared to the year 2014 and reached up to 700 thousand euros. The average number of employees in the year 2014 was 35. The Lithuanian subsidiary UAB Omniva LT’s sales revenue increased by 7% compared to the year 2013. The average number of employees in the company was 98 in the year 2014. Both in Latvia and Lithuania the parcel machine service volumes grew significantly. Major goal of 2015 is the forceful expansion in Latvia and Lithuania and also introducing new services in the markets there.
“We estimate an increase in both domestic and international e-commerce in the year 2015, therefore we will be further developing the logistics solutions that will enable the e-vendors to provide comfortable and fast goods delivery possibilities to the consumers,” said Kärmas.
The introduction of the new international trademark Omniva in June 2014 had a monumental meaning to the company. Introducing the new trademark is related to the internationalization of the company and the domestic market’s expansion from Estonia to Latvia and Lithuania. Services being provided under the former logistics and e-services trademarks like Post 24 parcel machines, ELS courier service, Kirjakeskus and eArvekeskus converged under the Omniva trademark. The Eesti Post trademark will continue marking the post offices and mailmen as a service channel’s trademark and also the company’s legal name in Estonia.
AS Eesti Post is an international group that offers postal, logistics and information logistics services. AS Eesti Post’s group includes AS Eesti Post as the parent company and AS Maksekeskus as a subsidiary, the subsidiary UAB Omniva LT in Lithuania and also SIA Omniva in Latvia. In 2014 AS Eesti Post paid dividends in the amount of 560 thousand euros in net sum, to which 149 thousand euros is added as the income tax. In 2015 it is planned to pay 1 million euros in dividends.
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