“After we complete our annual financial statements and they are audited by an independent financial auditor, ANCOM will analyze the impact of the provision of services included in the universal postal service and will evaluate additional costs in view of payment. Posta Romana iis currently auditing the establishment of net costs for 2013 and the deadline for its submission to ANCOM is July 1. For 2013, our estimates indicate a gross profit following the addition of this net cost,” said Posta Romana spokesman Dan Dumitrescu
By decision of ANCOM, Posta Romana was designated the provider of universal postal services in Romania in 2013. This forces the postal operator to ensure the services at the prices and under conditions set by regulator ANCOM.
“Our estimates indicate a net cost between RON30 million and RON50 million,” said Dumitrescu.
He added Posta Romana’s 2013 financial results will be determined accurately once ANCOM evaluates and compensates the company for its universal services.
Posta Romana is Romania’s largest postal operator, with a turnover of RON1.26 billion in 2012, 5,687 units across the country and 27,305 employees. It is 75% owned by the state and 25% by investment fund Fondul Proprietatea.
At the end of 2012, the company had debts amounting to RON568.2 million, after amassing losses of RON530 million in 2008-2012.
For 2013, Posta Romana reported an exploitation loss of RON27.62 million, nine times higher than estimated at the beginning of the year.