In fiscal year 2024, Correos experienced a financial downturn, marked by substantial profitability deterioration, higher operational costs, and weakened balance sheet strength.

Despite modest revenue shifts, an increase in staff costs and operational inefficiencies weighed heavily on the company’s bottom line.

Total revenue declined slightly by 2.4% YoY to €2,321.11 million, down from €2,377.04 million in 2023.

 

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