According to unaudited figures, Estonia's national postal company Eesti Post earned 6.9 million euros profit in 2010 compared to 0.1 million euros a year earlier.
Sales revenue totalled 52.7 million euros. In 2009 Eesti Post reported revenues of 51.9 million euros. The company earned profit last year due to the sale of property, CEO Ahti Kallaste explained.
Eesti Post for its part attaches more importance to the result of its core business than to the net profit, which was negative to the tune of nearly 0.4 million euros. The universal postal service generated a loss of 1.1 million euros at revenues of 10.9 million euros. The revenues from free market services were 34.1 million euros and the profit 0.7 million euros.
The proceeds from real estate sales will help Eesti Post finance this year's priorities. The managers of the postal company singled out development of express delivery services in Latvia and Lithuania and the use of parcel lockers in Estonia in co-operation with the Polish postal company Integer.
Eesti Post targets revenues of 50 million euros and expects to finish the year with zero profit. It does not plan to sell more expensive properties and corresponding income has not been written into its 2011 budget.
National Postal Company Posts EUR 6.9 Million Profit in 2010