Lietuvos Paštas’ net sales increased 9.1% to €108m, while total revenue rose 13.2% to €125m, supported by a 50.3% increase in other operating income to €17m. Parcels & express was the principal growth category, increasing 43.2% to €37m, while Mail revenue declined 7.6% to €45m. Domestic revenue rose 6.7% to €88m and international revenue increased 14.7% to €20m.

Staff costs grew 13.4% to €55m, and other operating costs increased 7.6% to €55m. Nevertheless, EBITDA margin improved from 9.7% to 11.9%, while EBIT rose to €4m and the reported EBIT margin reached 3.4%. Profit for the period increased to €6m, with the net profit margin improving to 4.7%.The post recorded an EBIT margin of 5.4% in 2023, up 0.5pp from the prior year. Lithuania Post reports that it employed 2,683 staff at year-end of 2023. This represents declines of 11.5% and 28.0% from 2022 and 2021, respectively. The average number of FTEs working at the post has fallen by 25.7% since 2021.. For more details download the latest IPC Carrier Intelligence Report for Lithuania Post.