Croatian Post Enjoys 13.6 Million Euro Net Profit in 2023

Lauren Simmonds

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croatian post
Igor Kralj/PIXSELL

May the 5th, 2023 – Croatian Post (Hrvatska pošta) has reported net profits of 13.6 million euros earned last year.

As Poslovni Dnevnik writes, back in 2023, Croatian Post achieved a 9 percent increase in its EBITDA compared to the previous year, seeing it reach 25.3 million euros. In addition to that, its net profit amounted to 13.6 million euros. This was a very significant increase and was due to an increase in the value of financial assets, they reported on Thursday from Croatian Post.

Describing the results in 2023 as a “continuation of productivity growth”, they stated that last year they achieved a 5 percent increase in operating income, seeing it reach 250 million euros. They added that last year’s business was “the result of a continuous investment cycle worth almost 200 million euros aimed at staff, infrastructure and technological improvements”.

The number of letter shipments in 2023 continued to fall, by 4.5 percent compared to 2022, while the number of parcel shipments continued to “grow” by 20 percent. They pointed out that parcel business has been breaking records every year, and it was no different in 2023. Throughout that whole year, Croatian Post delivered more than 15 million packages in total.

The company has also stated that they successfully responded to the challenges on the labour market and the increased turnover of employees. In cooperation with their social partners, they increased wages by 25 percent for all of their staff, of whom there were slightly more than 8,800 at the end of 2023. That is still 5 percent less than there were the year before. They noted that “with an increase in business income of 5 percent, a significant increase in productivity has been indicated”.

They also noted that in 2023, they adopted a new business strategy called “Pošta2025(30)”, which includes a strategic framework until 2030 focused on user experience and sustainable business. An emphasis has been placed on the medium-term strategic period until 2025. After 120 years, the company headquarters was moved to Velika Gorica, with an investment of 50 million euros, which built the most modern logistics centre in this part of Europe in that city near Zagreb. 1,700 employees work there.

In 2023, Croatian Post also implemented a large project to convert kuna into euros, and more than 1.2 million conversions were made in post offices. A total of almost one billion kuna was exchanged. In 2023, their 300th parcel machine was installed, thus completing the first phase of introducing a delivery channel. The use of such machines reduces CO2 emissions and congestion on the roads, and also improves the user experience.


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