Azerpost LLC held briefing for media

Azerpost LLC held a briefing for media representatives on the results of the first half of 2023. Chairman of the Board of Azerpost LLC Afgan Jalilov, who spoke at the briefing, provided detailed information on the work done by the LLC in the first half of 2023, as well as the financial situation of the institution.

It was noted that Azerpost LLC, having moved to the renewal stage from 2021, in addition to transformation processes, has also launched such large-scale projects as Postcargo, Retail, Logistics. In addition, the importance of obtaining a full member status of the VISA international payment system by the postal operator and, as a consequence, ensuring financial transparency through non-cash postal operations was emphasized.

It was reported that the annual income for 6 months of 2023 was AZN 33 million, which is three per cent more than in the same period last year. At the end of 6 months of the current year, net profit made AZN 2.3 million, EBITDA – AZN 4.2 million. In this period, the institution’s expenses made AZN 31 million, which is 16 per cent more than in the corresponding period of last year. 55 per cent of expenses came from salary expenditures. This represents a 15 per cent increase in salary expenses compared to the corresponding period last year. Thus, in early 2023, a 17 per cent increase in the minimum wages (from AZN 300 to AZN 350) led to an increase in expenditure.

Afgan Jalilov emphasized that the bonus plan to increase the monthly income of Azerpost employees, set as a goal for 2023, has already been implemented, and only in the first quarter the salaries of 540 people were increased to AZN 500.

Answering the questions of journalists, the head of the institution stated that within the next two years, Azerpost will continue the transformation processes started last year.