Despite 27.5% growth for its express delivery subsidiary, as well as improved performance for the mail division, Correos saw its total revenue fall 1.3% in 2017, largely due to a drop in universal service compensation. Correos is targeting diversification as traditional postal volumes continue to decline, and has identified e-commerce, e-government and financial services as key growth areas. The operator has seen strong growth in parcels and express volumes in recent years, driven in particular by international growth. For more details, download the IPC Carrier Intelligence Report for Correos.
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