The state-owned Romanian Post recorded a gross profit of EUR 3.8 million last year, according to the company.

In 2015, the state-owned postal operator saw losses of EUR 7.4 million because of a fine from the Competition Council.

The company’s total revenues amounted to EUR 247.2 million last year, while its expenses reached EUR 242.8 million.

“Let's not forget that the Romanian Post still has past debt. We have the fine from the Competition Council, which refers to the 2011-2012 period, as well as debits from ANAF’s controls from 2003-2012,” said the company’s general manager Andrei Stanescu. The postal operator has paid monthly installments to the tax authority (ANAF), he added.

Alexandru Petrescu, the current Minister for Business Environment, led the Romanian Post from mid-2014 until the beginning of this year.

The Government announced last week that it would notify the European Commission in August on its intention to increase the social capital of the Romanian Post. The procedure will be completed after the Commission gives it approval.

Communications minister Augustin Jianu previously announced that the Romanian Post would be capitalized with RON 170 million (EUR 37.2 mln) this year.

editor@romania-insider.com