Hellenic Post set to keep compounding losses

The market expects Hellenic Post (ELTA) to record losses, and on an operational level, for 2022 and with all certainty also in 2023, a few days before the publication of last year’s financial results.

However, as ELTA management sources admit, it will probably take two years for the state-owned company to return to profit, possibly in 2025, despite the significant liquidity injection by the state.

Until then it is estimated it will continue to compound losses, although it collects at least 15 million euros per year for providing the so-called ‘universal service’ – i.e. postal coverage of remote areas – and the €280 million injection from the state budget two years ago.