Canada Post's revenue in 2021 exceeded 400 million Canadian dollars! Investing 470 million Canadian dollars to build a new parcel processing center!

It is learned that in 2021, Canada Post's revenue increased by 6.3% year-on-year to 407 million Canadian dollars, of which the parcel department's revenue increased by 7.4% year-on-year to 238 million Canadian dollars, but the parcel volume decreased by 28 million pieces year-on-year (-7%). In the second half of 2021, Canada's epidemic prevention and control was effective, and the resumption of physical stores also led to a decline in online shopping parcels. Overseas parcel delivery also declined due to supply chain disruptions and limited air transport capacity.

Canada Post's operating costs increased by $127 million (+2.0%) in 2021 compared to 2020. The cost increase was mainly affected by rising labor costs and rising transportation costs. Due to the sharp increase in costs, Canada Post recorded a pre-tax loss of 490 million Canadian dollars in 2021, a narrower loss than the loss of 779 million Canadian dollars in 2020.

As demand for parcel delivery continues to grow across Canada, Canada Post said it is meeting the increasing volume of parcel deliveries by investing in expanding capacity, improving services and innovating operations. It will continue to expand its operational capacity in the future to support the operational capabilities of its parcel department and improve its delivery network.

It is learned that Canada Post plans to invest 470 million Canadian dollars in Scarborough, Ontario to build a new parcel processing center to meet the surge in parcels brought about by Canada's booming e-commerce demand. It is expected that Canada's e-commerce parcel volume will increase by 50% in the next 8 years. The center will be fully operational in early 2023. The new 585,000-square-foot site will be able to process about 60,000 parcels per hour after operation, which will increase the parcel processing capacity of the nearby Toronto operation center by 50%.

Editor ✎Estella/

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