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Highlights of the 2008 Annual Report

Annual Report

Highlights of the
2008 Annual Report

Canada Post Group of Companies:

  • Consolidated revenue from operations reached $7,729 million, an increase of $255 million, or 3% from 2007.
  • Consolidated net income for the fiscal period ended December 31, 2008 was $90 million, an increase of 36 million from the previous year.
  • Consolidated net income before taxes was $161 million, an increase of $1 million from 2007.
  • Consolidated cost of operations for fiscal 2008 totalled $7,594 million, an increase of $248 million over the $7,346 million recorded in the previous year.
  • Return on equity ratio was 6.1%, up from 3.8% in 2007.
  • The Canada Post Group processed 11.8 billion pieces in 2008.
  • With 72,000 employees, The Canada Post Group is one of the largest employers in Canada.
  • The Canada Post Group spends more than $2.8 billion annually on goods and services, thereby supporting an additional 30,000 jobs.

Segmented Highlights

Canada Post

  • The Canada Post segment represents approximately 80 % of the Corporation’s consolidated revenue.
  • Canada Post's revenue from operations increased from $5,955 million in 2007 to $6,108 million in 2008.
  • Revenue from Transaction Mail totalled $3,234 million; Parcels revenue totalled $1,311 million; Direct Marketing revenue was $1,431 million.
  • Canada Post's income before taxes was $66 million for 2008, a decrease of $12 million from the previous year.
  • Canada Post paid a dividend of $22 million to the Government of Canada in 2008.
  • Lettermail on-time service performance met the corporate target of 96%.
  • Transaction mail volumes decreased by 2% in 2008.
  • Parcels volumes decreased by 8.3% in 2008.
  • Direct Marketing volumes rose by 0.9% in 2008.
  • Canada Post reduced planned expenditures by $150 million. This was on top of already budgeted costs savings of $100 million, of which $90 million was achieved.
  • Canada Post was named as one of the Top 100 Employers in Canada for a third consecutive year in Maclean’s magazine.
  • In 2008 Canada Post raised more than $1 million for mental health, the company’s cause of choice. The corporation also supports literacy, the Canada Post Canadian Freestyle Ski and the United Way.

Purolator

  • Purolator generated revenue of $1,563 million in 2008, an increase of $115 million over the $1,448 million achieved in 2007.

Logistics

  • The Logistics segment accounts for revenue of $156 million, which is $10 million better than the previous year.