Economy & Politics

Post Luxembourg posts ‘remarkable’ results

The country’s largest employer recorded a 4.2% increase in turnover in 2019, reaching 862 million euros. The postal and telecommunications divisions are flourishing, thanks to digitalization.

Jean-François COLIN

The country’s largest employer recorded a 4.2% increase in turnover in 2019, reaching 862 million euros. The postal and telecommunications divisions are flourishing, thanks to digitalization.

With 4,652 employees, Luxembourg’s largest employer is doing well. In 2019, the Post Luxembourg group recorded a turnover growth of 35 million euros. This one reached 861.9 million, an increase of 4.2%. This performance was achieved in particular “thanks to the postal and telecommunications divisions”, announced this Thursday Claude Strasser, general manager, and Serge Allegrezza, Chairman of the Board of Directors.

Digitization has resulted in a reduction of almost 4% in the volume of letters in Luxembourg every year since 2015. At the same time, parcel volumes exceeded the threshold of four million parcels in 2019, which is equivalent to an increase of 17% compared to 2018. “With investments such as the installation of a new parcel sorting machine at the national sorting center in Bettembourg, we are now able to process daily volumes which can exceed 30,000 parcels”, said Claude Strasser.

With an investment of more than 50 million euros, the telecommunications division is mobilizing a lot of its resources for the deployment of the future 5G network

With an investment of more than 50 million euros, the telecommunications division is mobilizing a lot of its resources for the deployment of the future 5G network

Photo: Chris Karaba

Post Luxembourg’s investment in the telecommunications sector amounts to more than 50 million euros per year. The company is mobilizing a lot of its resources to deploy the future 5G network and to migrate from the traditional fixed telephone to the “all-IP” network. Today, almost 70% of the population is able to connect to the Internet at speeds of up to 1 Gbit / s.

In addition, in 2019 the group set up a department dedicated to cybersecurity called “POST Cyberforce”. “Faced with” cyber threats “, we have succeeded in providing innovative solutions thanks to the expertise and experience of our internal resources,” said Claude Strasser.

Despite 'remarkable' 2019 results, the management of Post Luxembourg admits to dreading the impact of the coronavirus crisis on the 2020 financial year.

Despite ‘remarkable’ 2019 results, the management of Post Luxembourg admits to dreading the impact of the coronavirus crisis on the 2020 financial year.

Photo: Guy Wolff

In addition, the operating profit of the company increased by 6.1% in 2019, reaching 183 million euros. As to net profit, it amounted to 37.8 million euros, an increase of 13.2%. “The contribution of Post Luxembourg is crucial for a country like Luxembourg, which is experiencing significant demographic growth. For example, the company has played a major role in the development of telecommunications infrastructure, ”explained Serge Allegrezza.

Despite these results described as “remarkable” by Serge Allegrezza and Claude Strasser, the management of Post Luxembourg admits to dreading the impact of the coronavirus crisis on the 2020 financial year.


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