Marginal drop in revenue year-on-year despite strong H2 performance, as An Post’s ongoing transformation opens up new revenue streams in 2022.
In 2022, An Post fully resumed the transformation of its product portfolio – a process which had been put on hold during the Covid-19 pandemic. Focussing on e-commerce and retail opportunities, with particular emphasis on financial services, the post’s diversified offering sees it opening new revenue streams while growing its domestic presence in a number of services
An Post reported a 4.1% decline in EBIT margin to reach an EBIT of €-36m in 2022. However, the decline in profitability was significantly driven by a one-off accounting event (recorded as a cost of €191m) as An Post restored benefits from its pension fund to its employees. The post recorded an EBITDA of €18.6m, 15% higher than the prior year.