The financial results of Omniva reflected the current state of the sector and the economy 

The financial results of Omniva reflected the current state of the sector and the economy 

The total revenue of Omniva Group in the first quarter of 2024 was 31.9 million euros, an increase of 3% compared to the same period last year. In three months, Omniva delivered a total of nearly eight million parcels in the Baltics. The volume of parcels grew by 3% over the year. 

In the first quarter of 2024, 39% of the sales revenue came from customers in Estonia, 16% from Lithuania, 12% from Latvia, and 33% from other countries. An increasing share of sales revenue comes from outside Estonia. The universal postal service accounted for only 8% of the turnover. Operating income totalled 33.6 million euros (in Q1 2023: 31.6 million euros), growing by 6% compared to the same period last year. The operating loss of the group was 0.9 million euros (Q1 2023: operating loss 0.2 million euros). The net loss of the group after tax for the first quarter was close to 1 million euros. 

The operating performance of the group is affected by intensifying competition in the Baltics, which has put pressure on volume growth and limits the scope for sales price adjustments. At the same time, input prices and wage levels have risen significantly over the year. The provision of unprofitable universal postal service and home delivery of periodicals will also keep the profits of Omniva under continued pressure. 

Mart Mägi, Chairman of Omniva: ‘Our clear goal is to continue delivering a high quality of service, while significantly increasing the efficiency of our organisation. To achieve this, we have already had to reduce our team by more than 160 people across the Baltics and take robust steps to automate our core and support processes. Thanks to our strong team, we have grown our international business at a time when the domestic market is suffering from the recession. We believe that the measures we have already implemented to improve efficiency and the continued growth of e-commerce will allow us to deliver on our annual plans.’ 

The major activities of Omniva in the first quarter 

From mid-January, the Omniva parcel machine network was opened to all DHL Express customers, who can now direct their parcels to an Omniva parcel machine. The new service is based on a platform developed by Omniva that allows courier and logistics companies to integrate their services into the open network of the parcel machines of Omniva. Omniva has the largest network of parcel machines in the Baltics, which other carriers can use to simplify parcel delivery and reduce delivery times.

In the first quarter, all 1,237 parcel machines of Omniva in the Baltics also migrated to a new and more user-friendly interface, which significantly simplifies parcel delivery. Two major projects – the migration to a new business software and the systematisation of the periodicals database – have also reached the final phase, both of which will make a significant contribution to improving the services and customer support offered by the company.   

Sustainability and community projects in the first quarter include a campaign in partnership with Uuskasutuskeskus and the Yaga sales platform. In March, everyone interested could send their unwanted clothes and other household items to Uuskasutuskeskus via the parcel machines of Omniva free of charge. As part of the campaign, the Yaga second-round sales platform offered Omniva transport at a significantly lower price than before, offering the lowest price compared to other service providers. In Latvia and Lithuania, the campaign was run in partnership with local partners in parallel with Estonia. 

The consolidated interim report for the first quarter of 2024 has been published on the website of Omniva