Russian Post estimated the need for additional capitalization at 20–30 billion rubles

To optimize the activities of Russian Post, additional capitalization in the amount of 20–30 billion rubles is needed. This was announced by Deputy General Director of Russian Post for Finance and Economics of the company Elena Stepina at a round table in the Federation Council.

“We would propose to consider additional capitalization of the company to reduce debt obligations, a subsidy for interest reimbursement, long-term investment of funds held in trust – something that we are already implementing, and loans and borrowings at preferential rates at the expense of the National Welfare Fund,” she said Elena Stepina (quote from TASS).

According to a representative of the joint-stock company, in the event of issuing loan obligations, Russian Post will need 20 billion rubles. from the funds of the National Welfare Fund, next year – 10 billion rubles. to increase salaries after increasing the minimum wage, 32 billion rubles – to bring salaries to market levels.

Interest liabilities of Russian Post for 2023 amount to 11 billion rubles. Previously, the joint-stock company reduced them at the expense of its own funds by 9 billion rubles. Over six months, Russian Post reduced its operating loss by three times. In addition, during the year, 340 branches that were closed at the beginning of the year were reopened.

In September, Speaker of the Federation Council Valentina Matvienko asked analyze the situation of Russian Post due to the growing “financial hole”. The Federation Council recommended that the government develop a plan for the financial recovery of Russian Post.

At the end of March, Russian Post reported its first net loss since 2014 for 2022 according to Russian accounting standards. The loss amounted to 27 billion rubles. versus RUB 0.3 billion arrived a year earlier. The total loss of Russian Post according to international financial reporting standards for last year amounted to 30.4 billion rubles. against 2.3 billion rubles. arrived in 2021.

World experience of successful and not so successful postal reforms – in the Kommersant publication “How Post Offices Survive”.

Anastasia Larina