Correos plans to invest EUR 275.5 million in 2008, representing an increase of11.2% compared to 2007, in order to improve the infrastructure and introduce new technologies inall processes, products and services of the company.
The major part of the investment of EUR 151.4 million will be dedicated to the infrastructure of the company including 477 in post offices (351)and operating centres (126), which will improve the accessibility of the postal services, removebarriers and enhance the productivity of its sorting centres.
The second biggest part of the investment of EUR 65.1 million is planned to bespent on information systems including the gradual roll-out of PDAs in all post offices.
Besides, EUR 21.8 million are intended for automatisation of processes such as newequipment for automatic handling of letter post and big envelopes, extension and improvement ofsorting equipment already installed; digitalisation projects and implementation of an RFID controlsystem to monitor processes and to ensure intermediate control to improve the quality.
The remaining EUR 37.2 million will be spent on transportation, security equimentand furniture.
Through this investment Correos expects to increase its revenues in 2008 by 5%compared to the estimated results for the financial year 2007 amounting to EUR 2.25 billion.Correos espects to end the next financial year with the earnings before tax of EUR 117.8 millionwhich is 1.9% less than the estimated earnings before tax for the current financial year.
According to the CEO of Correos José Damián Santiago these figures are realistic interms of expenses, moderate in terms of revenues and profit and ambitious in terms of investment. “The objective of this important investment in material ressources, technology and communicationsystems is to improve the quality in terms of accessbility and postal delivery as well as toincrease efficiency and operating consolidation”, explained José Damián Santiago.
