Fall in Q1 revenues at Omniva

Baltic postal and parcel operator Omniva has reported that its parcel and postal business in the region grew by 18% and 2% respectively in Q1 of 2018.

In a statement, Omniva said: “The greatest growth in comparison with the 1st quarter of the previous year was exhibited by the Latvian parcel business with 48% and the Lithuanian parcel business with 31%. Commercial revenue of the Group decreased by 8% due to the restructuring of international business and the decrease of other commercial revenues (property sales, etc.) compared with the same period of the previous year.”

Total commercial revenue for Omniva was at €24.7 million in Q1, down from €27 million in the same period last year.

The postal and parcel operator has said that it is to expand its parcel machine network across the Baltics this year in big cities as well as small towns.

Commenting on the postal performance, Joona Saluveer, Chairman of the Board of Omniva, said: “Letter volumes are continuing to decline but revenues from other postal services help compensate it.

“The postal business has also helped increase revenues by creating several innovative products which have been well received by clients.”

Omniva said that its international business decrease in Q1 2018 “due to changes in the structure of destination countries”. Most notably, the volumes for the Russian market have decreased.