Strong growth in parcels and express demand was more than offset by the drop in mail revenue in 2020, resulting in a 14% drop in total revenue for Correos.

Total mail volumes fell by 23% in 2020, as demand for traditional mail services fell sharply. Meanwhile, driven by e-commerce growth, as well as significant e-retailer partnerships signed in the prior year, Correos Express saw revenue increase by a third in 2020. Growth for the division continued to grow strongly in the first half of the year, up by more than a fifth on performance for H1 2020. For more details download the latest IPC Carrier Intelligence Report for Correos.

 

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