Omniva Group, a leading postal and logistics service provider, today announced its financial results for the fourth quarter and full year of 2024, demonstrating continuing growth despite challenging economic conditions in the Baltic region. The company’s total revenue in 2024 grew by 7.4%, reaching EUR 141.4 million.
Omniva delivered over 45 million parcels in 2024, reflecting a 19% increase in parcel volumes compared to the previous year. Growth was strong both in parcel locker and courier services, with increases of 8% in Estonia, 23% in Latvia, and 2% in Lithuania.
Martti Kuldma, CEO of Omniva, commented, “We are satisfied that we managed to significantly grow our volumes despite the current challenging economic environment and increasingly intense competition. Focus on investments in our infrastructure and new products, international expansion, and operational efficiency has delivered positive results. Our next challenge is to achieve convincing profitability, which will be possible through innovation, increased efficiency as we continue to strengthen our position both in the Baltics and internationally.”
The rising demand from international markets, including Central Asia, the USA, and Europe, was a key contributor to revenue growth. Omniva’s international operations volumes surged by 101% in Q4 and 71% year-over-year.
M. Kuldma further emphasized, “Our operational efficiency was enhanced by strategic investments, including the opening of a new sorting center in Kaunas and continued improvements to streamline delivery routes and optimize costs. These efforts have helped mitigate rising operational expenses. We continued to face a decline in domestic postal services (domestic letter volumes down by 13% and direct mail declining by 9%), which means that these services created losses. Therefore, we will continuously focus on efficiency and profitability.”
Omniva’s operating profit for Q4 amounted to EUR 4.6 million, and the operating profit for the full year reached EUR 1.1 million, marking a significant improvement from 2023. Net profit for Q4 was EUR 3.9 million, while the company reduced its full-year net loss to EUR 0.56 million, a 56% improvement compared to the previous year. Omniva earned losses from universal postal services in the amount of EUR -1.8 million during twelve-month period, a decrease of losses by EUR 0.3 million compared to the same period in 2023.
M. Kuldma stressed that looking ahead, Omniva remains focused on expanding its international presence while further enhancing operational efficiency and focusing on profitability to navigate competitive pressures. The company is well-positioned for continued growth and will continue to prioritize innovation, development of new services and the provision of sustainable postal services, ensuring long-term resilience and environmental responsibility in its operations.
Full report in English is available here.
Source: Omniva