The consolidated earnings before taxation generated by Czech Post in 2017 reached CZK 110 million, as shown by the audited financial statements. It was positively influenced by higher revenues from parcel and international operations, revenues from the collection and processing of cash, revenues from procurement activities as well as austerity measures to reduce operating costs, such as switching to IP telephony.

The year-on-year consolidated earnings before tax decreased by less than CZK 100 million, mainly due to the reduction of the universal service compensation from CZK 600 million to CZK 500 million as well as the continued decline in demand for traditional postal services, such as letters or money orders. Last but not least, the earnings were also affected by an increase in personnel costs by more than CZK 400 million in connection with wage increases and an extraordinary bonus paid to the tariff employees pursuant to the Government’s Decree to pay the aggregate amount of CZK 200 million as the universal service compensation for 2013 and 2014.