The acceleration of the transformation of Hellenic Post was the focus of a meeting between the managing director, Giannis Papachristou, and the management of ELTA. The meeting took place after the intense turmoil caused by the decision to close 204 stores across the country and the subsequent resignation of Gregory Sklikas, who until recently had been in charge.

The Fund and the ELTA aim to consult directly with local communities in the areas where the restructuring plan is to be implemented and find optimal solutions to the challenges identified. It is also expected to undertake an information initiative and present the modern way of operating the PFA and the services already provided, as well as to accelerate the transformation efforts in the context of the strategy already set out.

Review by the head of the State Treasury

In making a self-critique, Papachristou said that while comprehensive planning was done, he admitted that critical parameters such as information and preparation of local communities were not taken into account.

He pledged to immediately conduct an extensive and meaningful consultation with institutional bodies at the national and local levels and to explore partnerships with the local community.

The transformation plan

The company is already implementing a comprehensive strategic transformation plan. In particular:

1. Achieved the merger of ELTA and ELTA Courier creating the strong second pole in the industry.

2. Investments in new technologies and digital services are being implemented that allow in real time to monitor the progress of the services offered.

3. Postmen are now equipped with portable terminals and mini-printers and can implement almost all services in one home visit.

4. The company has entered a new era by utilizing real estate for the first time and results are expected in the near future. Already the relocation of the ELTA offices is a move that saves the company €55,000 per year, while the building in Kaisariani, with significant commercial value, is being released and is attracting strong interest. At the same time, a valuation of the company’s total real estate was completed for the first time and a holistic plan for its utilization is being organized.

5. ELTA’s services are expanded with more and specialized banking services and products, in cooperation with ALPHA BANK.

6. Major corporate customers (telecommunications, banks, international courier companies) were acquired.

7. Expanded service hours for citizens in 11 cities and created the Elta Fastpost application for scheduling appointments in 74 stores.

8. Smart postboxes were installed throughout Greece.

9. The fleet of vehicles is being strengthened to improve the distribution network.

Cost cuts and the new reality

Over the past few years, the Post Office has moved to eliminate loss-making commercial functions (e.g., electricity procurement), conducted a broad voluntary exit, redesigned the delivery model and integrated robotic technology into sorting, reducing costs and time.

In a statement, the Superfund noted:

– the postal market has been liberalized for decades and is NOT susceptible to any state aid,
– Mail is constantly decreasing, up to 90%,
– Competition in courier services is increasing with domestic and international players,
– the demands of citizens are changing, as they demand more and more speed and accuracy of service,
– The physical flow of parcels, letters, and payments is now moving from physical, fixed buildings to home delivery.

In this direction, a new reality has taken shape at the Post Office. Already:
– 92% of the pensions are delivered at home,
– 90% of mail is delivered at home.

“In light of the above, the next quarter will be used in the most effective way to address the challenges and ensure the sustainability of the organisation, under the non-negotiable condition that no region, no citizen will be left without postal coverage,” the YPF said.

At the same time, in its statement, the Fund highlights the “significant contribution of Gregory Sklikas, the outgoing CEO of ELTA, who accelerated the implementation of the transformation plan. He served with integrity and commitment to the modernization of ELTA, and with his decision to step down for reasons of decency, he facilitated the ability to continue the transformation plan.”

“From the side of the Superfund, the uninterrupted continuation of the transformation plan will be ensured, with a simultaneous emphasis on supporting and respecting the needs of local communities, as is also the publicly expressed will of the State,” the statement concludes.