After strong performance in the first year of the pandemic, the parcels and express subsidiary Correos Express saw steadier growth in 2021, with revenue up 3%. Meanwhile, the postal division achieved stronger growth, in part as a result of parcels and new services. Total revenue growth for the post was also boosted by higher universal service compensation.
Correos continued to diversify in 2021 and early 2022, launching new retail and logistics services to capitalise on existing networks. In Q1 2022, for example, it launched Correos Frío, a temperature-controlled transport service targeted at the food and healthcare sectors. For more details, download the latest Carrier Intelligence Report for Correos.