Hellenic Post to close 204 branches in major restructuring drive
In a statement, ELTA said the reorganization focuses on “enhancing the company’s effectiveness and viability,” while maintaining reliable postal services across Greece. The company emphasized that mail carriers’ roles will be strengthened through digital tools and a restructured delivery network.
According to ELTA, in-store transactions currently generate less than 10% of total revenue but account for more than 50% of operating expenses, diverting resources away from profitable areas such as courier services, e-commerce development, and business support. Several of the branches slated for closure have reportedly been operating at annual losses exceeding €150,000.
Adapting to a changing market
ELTA attributed the closures to major shifts in consumer behavior and technological advances. The company noted that the postal market has changed dramatically in recent years due to widespread digitization and the steep decline in traditional letter mail. Over the past decade, letter volumes have dropped by 90%, with a 50% decline recorded in just the last five years.
“Today, less than 10% of ELTA’s total revenues come from physical branches, while their operation accounts for nearly 45% of total costs,” the statement said.
Despite the reduction in physical outlets, ELTA stressed that postal services will continue to be available nationwide through a network of 1,400 mail carriers, 500 partners, 400 courier agents, and numerous rural distributors. Customers will also have the option to receive services remotely—by calling 212 0000 700, they can schedule a home visit from their local mail carrier.
The company said these changes aim to provide “more flexible and effective service,” particularly for elderly citizens and residents of remote areas. ELTA also plans to expand partnerships with private entrepreneurs who wish to operate under the ELTA or ELTA Courier brand.
Investing in modern infrastructure
“Our strategy is to ensure the best possible nationwide coverage,” ELTA stated. “We have already reached second place in the parcel delivery market and are investing in modern logistics and electromobility infrastructure, including 250 hybrid vehicles and 250 electric bicycles, to strengthen our presence across Greece.”
