An Post tackled difficult 2020
An Post in Ireland has reported its results for 2020. Revenues grew by 2.6% to EUR 916.0 million, a rise of 2.6% over 2019 (EUR 892 million). A parcel boom with a growth rate of 100.0% was partially offset by a decline in letter volumes of 7% and trading declines in the post office network due to Covid-19 restrictions.
Profit before depreciation and amortisation amounted to EUR 33 million. Nevertheless, after depreciation and amortisation, the business ended up with a loss of EUR 10 million.
According to estimates, the pandemic had a negative effect of approx. EUR 50 million, due to PPE costs, replacement staff costs, reduced post office transactions and a postponed price increase. Yet, An Post has seen a very strong start to 2021 with revenues for Q1/2021 up 11.0% versus Q1/2020. (sh)