The CEO of JSC Ukrposhta, Igor Smilyansky, said that the company expects to end the year with a profit. He said this during the event “Dialogues with NV. Business and Investments. How to Open New Opportunities”, commenting on public discussions regarding the possible default of the state-owned operator.
Reaction to rumors of default
Smilyansky noted that he assesses the information about the default sharply. According to him, the company is grateful to creditors for their support, and the very fact that private technology companies are turning to Ukrposhta for advice on digitalization indicates significant progress. He also added that the National Bank actively supports national investments. In his opinion, the best response to accusations and rumors of default is to end the year with a profit and demonstrate stable work.
Company progress
Smilyansky reported that Ukrposhta has undergone complete digitalization of internal processes, in particular inventory. Before the war, the company employed 76,000 employees, now 25,000, while, according to him, revenue has increased 5 times. The number of accountants has decreased from 872 to 47, and part of the work is performed by artificial intelligence. This, according to the head of Ukrposhta, is one of the factors that positively affects the creditors’ decisions regarding restructuring.
Over the past 2 years, Ukrposhta has opened 24 robotic sorting centers. The company received a loan from the EBRD to purchase equipment, but managed to install the last line before all procedures were completed. This allowed it to review the financing conditions and carry out restructuring.
Ukrposhta seeks to make its branches independent of the power grid and switch to inverters and batteries. However, according to credit requirements, the company must purchase European equipment, which is much more expensive than alternatives.
Smilyansky suggested that the company would like to choose a cheaper option, but these are the rules of donors.
Will Ukrposhta create its own bank
Commenting on rumors about the launch of a bank, Smilyansky confirmed that this issue really requires consultations with the Office of the President. He noted that about 30% of Ukrainians are outside the banking system, and banks do not have effective offline solutions.
In his opinion, the banking system in Ukraine still does not work at a level that meets modern needs, especially in Ukrainian realities.
Source: finance.ua
