The accumulated debt of Russian Post at the end of 2022 amounted to 133 billion rubles, the company managed to agree with creditors on restructuring and avoid default, the company’s CEO Mikhail Volkov said at a meeting of the Federation Council committee on economic policy.
He stressed that last year was “catastrophic” for the enterprise. “Post received a record loss – more than 30 billion rubles, a large accumulated debt – 133 billion rubles, while most of this debt has no sources of return and repayment, ”said Volkov, who headed the enterprise in January 2023.
According to him, the company now has to spend about 16 billion rubles annually on servicing debt, including servicing leasing. “Even in the best years, the company did not earn enough money to service interest,” he said.
“We managed to avoid default on external obligations. The fact is that only in the first half of the year the company was obliged to pay more than 30 billion rubles on external obligations. And if nothing had been done, in May we would have run out of money to pay salaries. We have successfully negotiated with all creditors,” Volkov said. According to him, at the moment the company has already reduced its debt by 3 billion rubles.
Source: Rosbalt
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