The state-owned Public Limited Company Lietuvos paštashas paid to its shareholders dividends of 589 082 litas. It was the first time ever Lithuania Post paid out dividends to the State.
Lina Minderienė, CEO of Lithuania Post, said:
“Shareholders set explicit and clear goals for state companies; firstly, to be profitable and useful to the State. Lithuania Post is working towards the goals set to the company and earned a profit in 2011 after a four-year period. We are glad that with the dividends we can contribute to the promotion of the country’s welfare”.
Based on audited data, Lithuania Post’s net profit in 2011 made 736 thousand litas. EBITDA (earnings before interest, taxes, depreciation and amortization) was positive making 9 411 thousand litas.
Last year the company’s income from sales made over LTL 183m. It makes 5.2% more than in 2010.
The volumes of services provided increased by 4.5% if compared with 2010. The largest part of income sales came from the universal postal service (49.4%). Income from courier mail services increased by 11.8% if compared to 2010.
The most considerable growth could be observed in retail trade and unaddressed direct mail with growth of income respectively by 45% and 24%.
100% of Lithuania Post’s shares belong to the State represented by the Ministry of Transport and Communications.