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The POST Group generated sales of €898.9 million, up 4% on 2020.
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EBITDA for the 2021 financial year was 3.6% up on the previous year.
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After four years of growth, the Group closes 2021 with net income down €7.5 million to €28.7 million.
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The Group employs 4,725 people of 55 different nationalities.
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In 2021, value created will reach €972.9 million, up 5.8% on 2020.
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Capital expenditure in 2021 increases by €13.1 million to €150.6 million.
At a press conference on Tuesday, May 17, 2022, Serge Allegrezza, Chairman of the Board of Directors, and Claude Strasser, Managing Director, presented the POST Luxembourg Group's 2021 balance sheet.
In 2021, the POST Group generated sales of €898.9 million. This increase was due in particular to the inclusion of LuxTrust in the scope of consolidation, with organic growth of around 2.1%. Gross operating profit (EBITDA) for the year came to €159 million, up €5.6 million on the previous year.
After four years of growth, the Group ended 2021 with net income down by €7.5 million to €28.7 million. This was due in particular to a €13.6 million drop in financial income, which had benefited from the sale of financial assets in 2020, and to a higher direct tax charge in 2021 than in 2020.
Claude Strasser, Managing Director of POST Luxembourg: "Overall, I'd describe the 2021 results as solid, in line with our expectations. However, I prefer to measure results over a longer time horizon. And 2021, like 2020, must be analyzed with caution, as the effects of the crisis are many and varied. In 2021, even though the crisis situation has continued to weigh on the morale of each and every one of us, and our day-to-day work has been punctuated by the constraints imposed by the health crisis, POST has succeeded in continuing the transformation process in its three historic businesses, relying on digital transformation as well as a once again very substantial volume of investment."
The Métier Télécom remains the main contributor. Its contribution to consolidated sales rose by 1.3% to €485.9 million, thanks to growth in the mobile and corporate business solutions segments, despite the structural decline in fixed-line telephony, which, thanks to containment, had reached a truce in 2020. POST forecasts a general increase in data consumption of over 30% per year. To support this development proactively, POST aims to extend its fiber optic coverage from the current 77% to 90% of households by 2025. This effort will be completed by the continued deployment of the network 5G.
Claude Strasser: "The substantial investments we've made in recent years, whether in 5G, 'All IP' or fiber optics, are bearing fruit, with the sole aim of guaranteeing our customers the best experience in terms of fixed and mobile connectivity."
By contrast, sales in the Finance division fell by 8.8% to €22.2 million. This drop is attributed to interest income, in a context of negative rates on interbank investments, amplified by the rise in savings since the health crisis.
Claude Strasser: "The persistently low level of interest rates is incompatible with POST Finance's financial model, and has prompted us to react, in the course of 2021, with the deployment of a new commercial strategy. Based on the principle of financial inclusion and a simplified offering, this strategy goes hand in hand with the discontinuation of free CCP account maintenance fees and the rebilling of negative interest on deposits exceeding €250,000. On the other hand, POST Finance remains a trusted partner accessible to all, with a very attractive offer thanks to transparent pricing. While the commercial success is very promising, it is a fact that the new strategy will only produce its financial effects from 2022 onwards, the 2021 financial year having suffered from historically low interest rates."
For POST Courrier, both letter volumes, temporarily amplified by the effects of the crisis, and parcel volumes, which have been rising structurally for many years, contributed to the good results achieved by the oldest business sector. The Mail sector's contribution to consolidated sales rose by 4.6% to €199.5 million. "Our strategy of gradually integrating our parcel and mail activities has proved its worth. We now have a solid distribution network, which has enabled us to withstand the ups and downs of the crisis over the past two years. The logistics business has been somewhat disrupted, both by the health crisis and by changes in customs regulations on July 1, 2021", concludes Claude Strasser.
Lastly, the Group's other entities posted sales of €191.4 million, representing organic growth of 2.9%, driven in particular by subsidiaries active in the ICT sector.
Investments in 2021 increased by €13.1 million to €150.6 million. These include fiber optics, with a gross value of some €500 million at the end of 3/3 2021, the rollout of 5G, the development of telecoms software and the construction of POST Luxembourg's future headquarters, to be delivered by the end of 2022.
Serge Allegrezza, Chairman of the Board of Directors of POST Luxembourg, explained POST's exceptional position: "With the exception of the construction of the future head office, which will be partly financed from the company's cash reserves, investments in 2021 will be financed entirely from the cash surplus generated by the company's own sales activities, without any allocation from the State. All investments, past and future, are fully paid for by the company's own resources. POST Luxembourg's impact is well illustrated by the added value created in 2021, which amounts to €927.9 million. POST alone contributes 1% to the Grand Duchy's GDP.
(Source : POST Luxembourg, 17 mai 2022)
The POST Luxembourg Group's Integrated Report 2021 is available via this link: www.postgroup.lu/resultats
