Greek Post becomes profitable for the first time since 2012

Hellenic Post (ΕΛΤΑ) returned to profitability last year after decades of losses.

In particular, ΕΛΤΑ posted an adjusted operating profit of 7.3 million euros and, as a manufacturing company, recorded a profit of 7.2 million euros (against a loss of 6.49 million euros in 2020).

Consolidated turnover decreased slightly, by 2.4%, to 243.6 million euros, after deducting the impact of electricity and universal service.

Payroll costs for all employees, i.e. permanent, external partners and contractors, excluding the corresponding voluntary leave (voluntary leave) costs decreased by 24.8% to 173.8 million euros for ΕΛΤΑ and by 3 .7%, to 19.9 million euros, for ΕΛΤΑ Courier.

The decrease in payroll costs is associated with a reduction in staff. In addition, expenses for the rental of buildings decreased by 5.1%, machines and computers – by 5.7%, goods and consumables – by 5.1%. A decrease of 9.5% and 27.6% was recorded in the items “expenses” and “cost of rent”, respectively.

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