You are currently visiting our Basic Site. This site is used for low-bandwidth connections, mobile devices and alternative browsers.
To restore the graphics and layout, return to the Standard Site.

Skip Navigation

2012 Annual Report

Annual Report

In 2012, the Canada Post Group of Companies had a before-tax profit of $127 million and the Canada Post segment a before-tax profit of $98 million.

This result was created by non-recurring, non-cash adjustments worth approximately $152 million. These adjustments are largely due to reductions in the future costs of sick leave and post-retirement health benefits. The savings are a result of reaching new collective agreements with the Canadian Union of Postal Workers in December 2012.

Without the non-cash adjustments, the Canada Post segment would have incurred a before-tax loss of $54 million in 2012. For the Group of Companies, the before-tax loss would have been $25 million.

Rapidly declining mail volumes combined with the need to serve a growing number of new addresses are a major cause of Canada Post's serious financial challenges. Compared to 2008, Canada Post is now delivering 23.6 per cent less Transaction Mail per address. As a result, Canada Post expects a substantial financial loss in 2013.

Canada Post must continue to explore and pursue opportunities to reshape its business and adjust its labour costs. To remain financially self-sufficient, Canada Post must make more fundamental changes to transform its business.