Economy & Politics

“Post is not one of the winners of the crisis”

With an increase in turnover of 0.3% but with a gross profit down 16% and a net profit down 5%, the country’s main employer will have had a checkered year 2020.

Jean-Michel HENNEBERT

Jean-Michel HENNEBERT

With an increase in turnover of 0.3% but with a gross profit down 16% and a net profit down 5%, the country’s main employer will have had a checkered year 2020.

Unlike Cargolux, which will have experienced a record year in 2020, Post Group will have experienced a completely different trajectory. If the main employer of the country has not collapsed, it will not have known either “a fun year in terms of financial performance”, notes Tuesday Serge Allegrezza. Direct reference to an almost stable turnover compared to 2019 (+ 0.3% to 864 million euros) but also and above all to a declining operating result and profit. 16% (153.4 million) in the first case and 5% (36.2 million) in the second.

What push the chairman of the board of directors to proclaim loud and clear that “Post is not one of the winners of the crisis”. Behind these overall figures are obviously hidden several realities, activities directly related to digital having, unsurprisingly, fared well. This is particularly the case of telecommunications which grew by 3.4% and marked in particular by the launch of 5G or logistics activities, boosted by the growth of e-commerce. Thus, no less than 14 million packages from Asia were processed at Findel destined for all of Europe, including 6.1 million destined for Luxembourg. That is an increase of 47% over one year.



With the covid crisis (and the administrative closures of shops), the online sales platform has become THE “marketplace to be”. As a result, more stores registered, more products to sell and an explosion of orders.


Conversely, the year 2020 will have accelerated the decline of the postal service. About 12% over one year, according to data released Tuesday “excluding the six million letters that were sent as part of Large scale testing,” said Claude Strasser, CEO of Post Group. A “trend that will continue in the years to come”, he warns, in reference to the constant decline recorded over the past ten years. The same decline in the group’s Finance activities, impacted in particular by negative rates which led to a decline in the volume of deposits from postal current accounts (CCP).


Illustration Public Service - Staatsbeamten - Permis a Point - Fuhrerschein - Driving license - Photo: Pierre Matge

Now that they no longer have the obligation, public sector agents are turning away from the postal checking account. But the flow is far from massive at the moment.


A finding that prompts the group to indicate that it intends to propose soon an evolution of the formula, intended to “better meet the expectations of customers who remain, for two thirds of them, very attached to this system”. Without revealing more, Claude Strasser however affirmed that “this will not however result in the establishment of credits”. On the employment side, the group now claims 4,697 employees and announces its desire to continue to grow, “both with profiles of people without a diploma as engineers or data scientists”, specifies the CEO.

Based on “the will of the shareholder – the State, editor’s note – to make Post an actor who continues to invest”, Serge Allegrezza wants to be optimistic since he assures that “the crisis has taught us a lot of things about new service opportunities ”, such as cybersecurity or the use of data, particularly related to the use of smartphones. A final project which should lead, in 2022, to the establishment of “a system like that of Google, but much more transparent”.


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