Maribor - The state-run postal operator Pošta Slovenije generated a group net profit of 17.6 million on EUR 461 million in revenue last year, an increase of more than EUR 12 million and 12%, respectively, from 2020.

Releasing the preliminary and as yet unaudited results, the company said the results were significantly above the targets, in particularly the profit figure.

CEO Tomaž Kokot said the group, which comprises several directly and indirectly controlled affiliates, was looking back on one of the most successful years recently.

"We reacted quickly to the situation caused by the epidemic and managed to provide quality postal, parcel, logistics and other services, despite often aggravated working conditions," he was quoted as saying in the release.

The company saw a 8% growth in mail services and a 16% increase in logistics services, each of which accounted for nearly 40% of the operating revenue. Parcel delivery was up by 22% to generate 13.5% of the operating revenue.

The company invested EUR 23.4 million last year, including in expanding logistics and parcel delivery capacities, a new information system and digitalisation and to expand its fleet of electric vehicles.

For this year the company projects EUR 482 million in revenue as it grows into an international corporation that will be present mainly in the broader SE European region. It plans to generate as much as 53% from logistics and parcel delivery services.

The core company employed 5,918 staff and the whole group 7,992 as of the end of 2021. An additional 200 staff are to be hired this year to respond to the fast growth in the volume of parcel delivery due to exceptional growth in online shopping.

In agreement with the social partners, the company increased base pay by 4% in October 2021 and paid out EUR 1,550 in holiday allowance to the employees with a similar sum to be paid out this year. EUR 4.2 million or EUR 500 net per employee was paid out in performance bonus last year with funds also earmarked for the purpose this year.