The historic shift from paper to digital communications contributed to a financial loss for Canada Post in 2013 yet illustrated the strong growth potential of our Parcels business.
In 2013, employees also achieved strong service performance results and continued to reduce the rate of lost-time injuries.
The Canada Post segment reported an operating loss of $269 million for 2013. Transaction Mail volumes fell 5.3 per cent, continuing a decline that began in 2007. The Canada Post Group of Companies reported an operating loss of $193 million.
The operating losses were reduced by gains mostly from the sale of corporate real estate. As a result, the Canada Post segment reported a loss before tax of $125 million. The Group of Companies reported a loss before tax of $58 million.
With more Canadians shopping online, exciting opportunities are emerging for Canada Post.
In 2013, Canada Post employees delivered 5 million more parcels than in 2012, boosting revenues by $93 million. Annual revenues from top e-commerce customers increased 29 per cent.
In 2013, the Corporation launched a comprehensive Five-point Action Plan to meet the changing needs of Canadians and reduce costs in order to address its challenges and secure the postal service for all Canadians.