Romanian Post to end 2014 with RON 74.3 mln operational profit after 7-year loss streak

The Romanian Post will end the current year with an operational profit of RON 74.3 million, compared to a RON 35 million loss in 2013 and another negative result of RON 52 million two years ago, according to a press release from the Ministry for Information Society.

MSI owns the majority share package of 75 percent of CNPR, while the rest of shares belongs to Fondul Proprietatea.

According to the ministry of Public Finances, the Romanian Post posted losses of RON 29.43 million in 2013 and a turnover of RON 1.15 billion. In 2012, the operator’s losses reached RON 52.1 million with a turnover of RON 1.21 billion.

“To our satisfaction, the Romanian post exceeded the profit target we set when we took over our term (…) These results clearly show that national companies can achieve economic performance in Romania as long as there is dialogue, mutual respect, trust and professionalism in our day to day activities”, according to minister Razvan Cotovelea.

The official added that the Post will end 2014 without the danger of insolvency looming over its head.

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“Likewise, this year ends with a salary increase which doesn’t endanger the company’s development, with a solid agreement between management and unions and with an ongoing privatization process”, Cotovelea added.

27,000 people work for the Post, the biggest player on its market, with a network of 5,600 units.

Belgian postal services operator bpost was the sole interested party in submitting a non-binding offer  for a 51 percent stake of the Romanian Post in September, according to an announcement from MSI at that time.