Czech Post makes loss for first time ever

14-05-2019

The country’s postal service, Czech Post, lost money in 2018 for the first time in its history. Whereas the state enterprise turned a profit of CZK 91 million in 2017, last year it went CZK 275 million into the red. However, total losses excluding the amount it received from the state for providing its services reached over CZK 1 billion.

Czech Post falls under the Ministry of the Interior and Minister Jan Hamáček said the state has been underpaying for such services for some years. His view is shared by the postal service’s CEO, Roman Knap. He also said that restructuralisation would lead to the organisation again making a profit in 2022.