Estonian Post report 2008 profits
According to preliminary accounts, Estonian Post ended the financial year of 2008 with a profit of approximately 400,000 kroons, writes the National Broadcasting/LETA.
Read MoreTag: Estonia
Estonian Post planning 2009 profit
Through conservative planning Estonian Post expects to earn a profit of 22m kroons in 2009.
Read MoreEstonian Post to continue dominating the market
Although the postal market that will be opened in Estonia in three months will make it possible for all postal enterprises deliver letters of up to 50 grams to recipients, Eesti Post (Estonian Post) will continue dominating the market, writes the National Broadcasting.
It is considered likely that competitors will not want to start providing the universal service. Last year Estonian Post earned a loss of nearly 40 million kroons (USD 3.48 million) with the universal service.
CEO of Estonian Post Ahti Kallaste also believes that as the market opens, the provision of the universal postal service will be borne by Estonian Post. According to him, the prices of sending letters and the accessibility of the service will not change.
As is the case for other State-owned enterprises, the Government is to discuss selling Estonian Post as well.
Read MoreItella Logistics expands its consumer parcel operations in Estonia
Itella Logistics uses SmartPost’s parcel automates as drop off points for consumers in Estonia
Itella has signed an agreement with SmartPost to use their automated parcel terminal network of 20 machines in Estonia as drop-off points to consumer parcels. Itella will be responsible for parcel handling, sorting and transportation to machines by using its own couriers. Co-operation starts in November with selected distance selling customers.
– Our automated parcel terminals provide convenient and fast way for consumers to pick-up their parcels. SmartPost has established its delivery network and we are ready to provide this service for Itella, says Indrek Oolup, Managing Director of SmartPost Ou.
– For Itella as service logistics provider it is important that we are able to provide alternatives for consumers. We achieved excellent results from our automated parcel terminal trial held in Tallinn and Helsinki. Based on that we believe that this new way of delivering parcels is interesting for our corporate clients and improves the service for Estonian consumers, says Aku Happo, Itella Express and Parcel Business Director.
Read MoreEstonian state owned companies to lose hundreds of millions kroons
The new state budget draft act tightens state companies’ chubby dividends and the state isn’t ashamed to take dividends even form companies in loss.
Same topic in BBNState to take EEK 100 mln in dividends from Port of Tallinn
According to the draft act, all state companies have to pay dividends. Estonian State Forest Management Centre RMK has to pay the largest dividends. “RMK earns a profit which undistributed part can be taken out, EEK 680 mln of that money is planned in 2009 state budget,” press representative of Estonian Ministry of Environmental Affairs said, Postimees writes.
Also the postal company Eesti Post has to give the state EEK 10 mln next year even despite the fact that the company has been in loss for the last years. Chairman of the supervisory board, Meelis Atonen, said that such plan came for him as a surprise. “Eesti post is a company that is fighting with loss,” he said. “Taking dividends in such situation is very wrong. A proper owner wouldn’t do that.”
State owned energy company Eesti Energia has to pay the state EEK 123 mln in dividends, AS Lennuliiklusteenindus EEK 75 mln and Port of Tallinn EEK 100 mln.
In addition, Estonian central bank should to pay the state EEK 200 mln, Eesti Loto EEK 102 mln and Eesti Telekom EEK 300.125 mln.
1.00 EEK = 0.0896929 USD
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