AN POST DELIVERED double the amount of parcels in 2020 than the previous year, as lockdown saw Irish people increase the amount of online shopping they were doing.
Ireland’s postal service has released its figures for last year, which show that its revenue increased by 3% from the previous year.
However, it still saw an overall loss of €10 million.
An Post took in €916 million last year, compared to €892 million in 2019. The increase in revenue was slightly offset by a decline in the number of letters sent. 7% fewer letters were sent in 2020.
The pandemic “adversely impacted” figures by over €50 million, An Post said, due to the cost of PPE and replacement staff, as well as reduced post office transactions and a postponed price increase.
The service’s balance sheet remains strong, however, with €81 million in unrestricted cash at year end.
An Post’s revenues for the first quarter of 2021 were up 11% on the same period last year, with parcel volumes remaining high and letter volumes recovering. It is expected that profits will return to pre-pandemic levels as the business normalises and the price increase is introduced.
David McRedmond, An Post CEO said in a press statement: “2020 for An Post was all about being a public service. Unlike many postal services in Europe we kept both our networks fully operational throughout the pandemic.”
“While the costs from Covid were a major hit on the organisation, An Post’s strong financial recovery in the previous few years meant the costs could be fully funded from our balance sheet”, he said.
An Post has also announced its Green Light Programme, its strategy for the next five years. The programme will see increased profitability, An Post said, as well as a “transformed and sustainable” post office network.
The service also plans to develop a “market-leading” digital platform for easy, accessible e-commerce.
An Post launched a number of initiatives during the pandemic, including sending letters to and from nursing homes for free when visits were not allowed during lockdown.
Earlier this year, An Post sent two free postcards to every household in the country for the second time during the pandemic.
A similar initiative took place at the start of the pandemic in March 2020.
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