An Post continued to see strong parcels growth in the first half of the year, as pandemic-related e-commerce demand rose. However, as the retail sector fully reopened in the second half of the year and Brexit and new EU VAT rules impacted cross-border demand, the post reported falling income for the parcels sector in H2.
Brexit and the pandemic also impacted profitability for the post, driving up operating costs for the year. An Post continued to implement its new strategy that increases focus on e-commerce and retail financial services, resulting in further transformation costs for 2021. As a result, the post’s EBIT margin continued to fall, reaching -4%. For more details download the latest IPC Carrier Intelligence Report for An Post.