“Over the past three years, the losses amassed by Posta Romana have exceeded 400 million lei (EUR88 million). The company’s turnover was on the decline and will follow the same trend in 2013,” Ion Smeeianu, general manager of the operator, said Wednesday.
According to Smeeianu, the management of the company plans to attract new clients by tapping the insurance brokerage or the mobile telephony markets, or offer financial and banking services to offset revenue declines.
“We want to improve our service portfolio and will turn to the mandatory home insurance segment, said Smeeianu, adding that Posta Romana will broker insurance contracts in small towns and in rural areas.
The company might also launch banking and financial services in 2013, in partnership with a bank or through its own bank, he said.
Moreover, it plans to implement a mobile virtual network operator (MVNO) and took the first steps to this end, Smeeianu said. The company has already received two offers and the auction winner will be announced sometime around December 10, he added.
Posta Romana is Romania’s largest post operator, with a network of about 7,100 offices.
The company is controlled by the Communications Ministry, with a 75% stake, and by investment fund Fondul Proprietatea (FP.RO), which holds 25% of the shares.
In 2011, its turnover dropped 8.7% to RON1.26 billion, while losses increased 50% to RON182.9 million, according to data provided by the Finance Ministry.
At the end of 2011, the company registered debts of RON556.9 million. (EUR1=RON4.5454)