Post Office Broadens Losses and Ends 2024 in the Red: Understand the Numbers and the Impact on the State-Owned Company’s Cash Flow

Written by Fabio Lucas Carvalho

Published on 09/05/2025 at 12:21

Updated on 09/05/2025 at 12:24

Foto: AB

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State-Owned Company Experienced Revenue Drop, Increased Expenses, and Impact of New Import Rules; Despite the Deficit, It Remains Present in All Municipalities with Affordable Rates

The losses of Correios soared in 2024. The company ended the year with a negative result of R$ 2.6 billion.

The figure represents more than quadruple the loss recorded in 2023, which was R$ 597 million. The data was published this Friday (9) in the Official Gazette of the Union.

The number drew attention for the size of the leap in just one year.

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According to Correios, the increase in the deficit is linked to the operation of units in remote areas and the impact of new rules that directly affect the company’s revenues.

According to Correios, only 15% of the 10,638 units of the company installed in locations called “assisted” reported surplus last year. This means that 85% of these units operated at a loss.

Even so, the state-owned company stated that it continues to ensure universal access to postal services in all 5,567 municipalities in the country.

The company emphasizes that it maintains what are considered fair rates and a commitment to national presence, even in the face of financial difficulties.

This social function comes at a cost.

By keeping agencies in locations with low demand and little profitability, operational costs increase without the necessary return in revenues. This equation contributes to the negative result recorded.

Revenue Drop and Impact of New Taxation

Another factor pointed out by Correios was the 0.89% drop in the company’s gross revenue.

The amount decreased from R$ 21.67 billion in 2023 to R$ 21.47 billion in 2024. Regarding sales and services revenue, the drop was slightly higher: 1.74%.

The state-owned company attributes this drop to the direct impact of the new rules for international purchases.

Since July 2023, a 20% Import Tax has been charged on purchases over US$ 50, in addition to 17% ICMS.

These measures, dubbed “t-shirt tax,” affected international e-commerce.

The Federal Revenue Service noted that the total number of purchases made by Brazilians abroad fell by 11% in 2024. This decline directly impacted the delivery services offered by Correios, which are responsible for a large portion of these shipments.

Investments Even with High Deficit

Despite the financial hole, Correios reported that it made investments worth R$ 830.27 million in 2024.

This amount was allocated to actions linked to the thematic and management programs defined in the Multi-Year Plan.

According to the company, these investments are part of a long-term strategy.

The goal is to modernize the state-owned company’s infrastructure, improve service performance, and seek greater financial sustainability in the future.

The state-owned company also states that, even with the negative result, sustainability remains a “central theme in the company’s daily operations.”

This is a way to reinforce the commitment to a model that seeks a balance between national presence, service quality, and economic viability.

Post Office Broadens Losses and Ends 2024 in the Red: Understand the Numbers and the Impact on the State-Owned Company’s Cash Flow

State-Owned Company Experienced Revenue Drop, Increased Expenses, and Impact of New Import Rules; Despite the Deficit, It Remains Present in All Municipalities with Affordable Rates

Revenue Drop and Impact of New Taxation

Investments Even with High Deficit

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