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The Empresa Brasileira de Correios e Telégrafos (lit. 'Brazilian Post and Telegraph Corporation', abbr. ECT), also known as Correios (Brazilian Portuguese pronunciation: [koˈʁejus]), is a state-owned company that has operated the national postal service of Brazil since the 17th century.[5]

Key Information

The ECT created and manages the Brazilian postal code system known as Código de Endereçamento Postal. It also provides an e-commerce platform (CorreiosNet Shopping), banking (Banco Postal) acting as proxy of Banco do Brasil,[6] Boleto bill payment collection and express mail service Sedex, with its international service network reaching more than 220 countries worldwide. It is the largest employer in Brazil, with more than 109,000 employees, both internal and outsourced, and is the only company to be present in all municipalities in the country,[4] with a wide network of owned and franchised units.[citation needed] The company is fully owned by the Federal Government of Brazil and subordinated to the Ministry of Communications (MCom).[citation needed]

History

[edit]
Central Correios post office in São Paulo.
An ordinary post office at Coronel Fabriciano, Minas Gerais.

The postal service had its origins in Brazil on Thursday, 25 January 1663. In 1931, Federal Decree Number 20,859 of 26 December merged the Directorate General of Posts to the General Bureau of Telegraphs and created the Department of Posts and Telegraph.[7]

The new name and status, ECT, was created Thursday, 20 March 1969, as a public company under the Ministry of Communications, through the transformation of the Federal Authority which was then the Department of Posts and Telegraphs.[citation needed]

In the years that followed, several services were being incorporated into the portfolio. Besides the traditional services of letters, courier, postage and telegrams among the new services can be highlighted those belonging to the SEDEX family, express delivery service.

In August 2013, the company has provided 2,000 of its mail delivery staff with smartphones to provide real-time information on their deliveries. The move is the first phase of a new Mobility in the Postal Service project in which the company is looking to allow customers to track their deliveries in real time on the Internet. The first phase covered the SEDEX 10 express service in various states (a service that delivers documents and goods with a guaranteed delivery time before 10 am the next day after posting).[8]

In December 2013, the company inaugurated its second hybrid mail production center in Santa Catarina. The new facility near Florianópolis will serve the south and the states of Ceará and Bahia. It has the ability to scan and produce 2.7 million items each month, a little smaller than the Brasilia plant's 4.5 m capacity, which was opened in August of that year. At the moment, the two plants together are producing about 2.5 m mailpieces a month, including communications for the Ministry of Health and notifications for the Federal Highway Police and the Judiciary. The company is also planning to open a facility in São Paulo later this year, while next year facilities will be opened in Belém, Salvador and Belo Horizonte as the company's hybrid mail capabilities expand.[9]

In February 2014, it was reported that Correios has inked an agreement with its Italian counterpart Poste Italiane to launch a mobile virtual network operator (MVNO) in Brazil. Until then Brazil had two MVNOs, Portoseguro and Datora.[10] In October of that year National Presort Inc. has won a $11 mln contract to upgrade sorting technology, which will see the replacement of controlled electronics, barcode readers and software within existing sorting machinery of Correios.

In October 2019, a Decree was published including the Empresa Brasileira de Correios e Telégrafos (ECT) in the Investment Partnership Program (PPI), enabling studies to be conducted and alternatives for partnership with the private initiative to be evaluated.[11]

In March 2021, the ECT was included in the National Privatization Program (PND), the inclusion of which was recommended by the Investment Partnerships Program Council (CPPI).[12] During the first studies the council opted for the total sale of the company.[13] In-depth studies were conducted by the National Bank for Economic and Social Development (BNDES) and the bill was approved by the Chamber of Deputies, according to the approved text, the National Telecommunications Agency (Anatel) will regulate the sector, changing its name to 'National Agency of Telecommunications and Postal Services' (Anatel).[14] The proposal still has to be approved by the Federal Senate and sanctioned by the President before being evaluated by the Federal Court of Accounts (TCU).[15]

In June 2022, the company's president Floriano Peixoto, spoke about the changes implemented in recent years during the radio program A Voz do Brasil. According to the president, radical actions were taken to accelerate the investigation of irregularities and strengthen governance, in addition, they sought to rationalize its resources, getting rid of unused and unserviceable assets. The alienation of 50 buildings yielded R$ 41 million and R$ 80 million from vehicles. Changes in the Collective Labor Agreement (ACT) generated annual savings of R$ 500 million (around US$97 million). The company is present in all 5,570 municipalities with 11,000 service units.[4][3]

Logo history

[edit]

Before 1970, Correios used governmental insignia to identify itself. In 1970, Correios utilized a logo designed by architectural student Eduardo J. Rodrigues during a public competition. A new 1990 logo added the name of the company and incorporated a new colour scheme. To celebrate its 350th anniversary, Correios requested the agency CDA to design a new logo, which takes inspiration from the original design by Rodrigues; this has been in-use since May 2014.[citation needed]

  • Emblem 19th century
    Emblem 19th century
  • Emblem 1932-1969
    Emblem 1932-1969
  • Logo 1970-1990
    Logo 1970-1990
  • Logo 1990-2014
    Logo 1990-2014
  • Logo 2014-present
    Logo 2014-present

Sponsorship

[edit]

Correios was one of the sponsors of the Jordan Grand Prix team in the 1994 Formula One World Championship season, when brazilian driver Rubens Barrichello was competing for the team.

References

[edit]
[edit]
Revisions and contributorsEdit on WikipediaRead on Wikipedia

Correios

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Empresa Brasileira de Correios e Telégrafos (ECT), commonly known as Correios, is Brazil's state-owned postal service provider, operating as a public enterprise responsible for national mail delivery, logistics, and ancillary services.
Tracing its origins to 1663 with the establishment of early postal roles, the modern ECT was formed in 1969 by decree to consolidate and expand postal and telegraph operations previously managed by the Department of Correios and Telégrafos.
Correios holds a constitutional monopoly on the delivery of letters, postcards, and similar items, while competing in parcel and express services against private operators, and maintains an extensive network of over 12,000 post offices covering all Brazilian municipalities, including remote areas.
As one of Latin America's leading postal operators, it has historically ranked first regionally for service quality and innovation, including strategic partnerships for financial and digital services, though traditional mail volumes have declined amid e-commerce growth favoring competitors.
The company employs around 85,000 to 100,000 personnel and has faced mounting financial pressures, posting net losses of R$4.37 billion in the first half of 2025—surpassing its full-year 2024 deficit—prompting restructuring plans, loan requests from the Treasury, and calls for operational overhaul to address inefficiencies and revenue drops exceeding 10% year-over-year.
Privatization initiatives advanced under President Jair Bolsonaro, culminating in congressional approval for a full sale in 2021 to curb perceived corruption and fiscal burdens, were halted by President Luiz Inácio Lula da Silva upon taking office in 2023, reigniting debates on the viability of maintaining Correios as a subsidized public monopoly amid persistent losses and competition.

History

Colonial and Imperial Origins

Postal communications in colonial Brazil initially relied on private and ad hoc arrangements, with the earliest formal contract being the 1606 Da Matta Postmaster agreement, which facilitated mail handling. The first recorded transatlantic mail from Brazil dates to 1641, involving a Jesuit letter from Bahia to Portugal transported in private hands. By the late 17th century, official postal activity began when the Portuguese Crown established the Correio-Mor, responsible for overseeing mail transport across the colony. The Correio-Mor system operated through contracted couriers, handling royal dispatches and limited civilian mail, as evidenced by documents carried by successive Correios-Mores from the 1660s onward, such as a 1665 royal letter to Maranhão's . This privatized model persisted until 1797, when Queen Maria I nationalized postal services, ending the Correio-Mor contracts. In 1798, a under Maria I formalized regular postal lines in , setting an 80 réis rate and organizing networks around hubs like and Rio de Janeiro, marking the first structured maritime and land services between and . Following Brazil's independence in , the imperial government reorganized postal operations to support . Between 1829 and 1844, key institutional reforms included the creation of the General Post Office and the introduction of uniform postage rates, involving collaboration between private entrepreneurs and statesmen to expand internal routes. These measures laid the foundation for a centralized national postal system, transitioning from colonial dependencies to imperial infrastructure that integrated disparate provinces through reliable communication networks.

Republican Era and Modernization

Following the proclamation of the Republic on November 15, 1889, postal and telegraph services were initially subordinated to the Ministry of Public Instruction, Posts, and Telegraphs, marking a shift from imperial structures to republican administration. In the same year, the first Brazilian Postal Museum was established to preserve relics of postal operations, reflecting early efforts to institutionalize the service's heritage. By 1890, Decree No. 368-A of May 1 reformed the postal system, aiming to adapt it to the new republican framework under the Diretoria-Geral dos Correios, which oversaw direction and fiscalization until 1931. During the Old Republic (1889–1930), the postal network experienced expansion, particularly in telegraph , with expeditions led by Marshal extending lines into Brazil's interior to connect remote regions. However, the period was characterized by operational inefficiencies and lack of centralized planning, limiting overall service reliability and coverage. In 1894, oversight transferred to the Ministry of Industry, Transport, and , aligning postal services more closely with development. The rise of in 1930 initiated significant modernization through centralization. In 1931, Decree No. 19.951 of May 4 and subsequent measures fused the Diretoria-Geral dos Correios with the Repartição Geral dos Telégrafos, establishing the Departamento de Correios e Telégrafos (DCT) to unify postal and telegraph operations under a single bureaucratic entity. This reform, formalized by Decree No. 20.859 of December 26, 1931, enhanced administrative efficiency by integrating services, reducing redundancies, and supporting Vargas's broader state-building agenda during the Estado Novo period (1937–1945). Post-World War II, the DCT continued expansions, though persistent challenges in rural coverage and technological adoption highlighted ongoing needs for further reform.

Post-1980s Reforms and Expansion

Following the in in the mid-1980s, the Empresa Brasileira de Correios e Telégrafos (ECT) initiated a strategic reorientation towards and market responsiveness, departing from its traditional bureaucratic model to address declining mail volumes and competition from emerging technologies like and . By the late 1980s, ECT emphasized client needs, launching aggressive marketing initiatives and over 2,000 new agency branches to broaden access in underserved areas, thereby expanding its operational footprint while introducing diversified revenue streams such as tax collection and services. In parallel, ECT developed new product lines to capture growth in parcels and data services, including SEDEX for express domestic delivery, Hybrid Data Interchange for electronic-mail integration, and specialized "Industrial Parcel" options for bulk shipments, which collectively processed approximately 4.8 billion items annually by the mid-1990s with improved reliability through barcode tracking and electronic sorting systems. These efforts aligned with broader economic liberalization under the 1994 , enabling ECT to invest in technological upgrades and compete more effectively in a globalizing market. A pivotal modernization drive came with the 1995 launch of the PASTE (Programa de Aperfeiçoamento da Estrutura Tecnológica dos Correios) initiative, a R$3.9 billion investment program spanning –2003 that funded enhancements, including automated sorting facilities, centers, and network automation to boost efficiency and amid rising parcel demand. Complementing this, 1997 administrative reforms granted ECT greater autonomy under the Ministry of Communications, transitioning employee contracts to performance-based terms without tenure to foster accountability and operational flexibility. By the late , restructuring proposals advanced further commercialization, envisioning a rename to Correios do Brasil S.A. with provisions for partial private while maintaining federal oversight, alongside gradual monopoly erosion through a proposed National Postal Service Law and regulatory body (ANAPOST). Expansion into ancillary sectors accelerated with 2000 pilots for postal banking in partnership with , leveraging ECT's extensive network of over 10,000 outlets to offer services, and enhanced e-commerce logistics capabilities with real-time tracking. These reforms positioned ECT for revenue diversification, with parcels and commercial services emerging as key growth drivers by the early 2000s.

21st Century Challenges

In the early , Correios encountered initial financial pressures from rising operational costs and the erosion of its monopoly in lucrative segments, exacerbated by the 2005 Mensalão corruption scandal that originated within the company and involved contracts worth nearly R$60 million with airlines for mail transport, leading to political fallout and heightened scrutiny of governance. By the , bad investments between 2011 and 2016 contributed to structural deficits, while intensified from private couriers such as Mercado Envios and , which captured high-margin urban e-commerce routes amid a booming online retail sector. These factors, combined with outdated technology and legal liabilities, resulted in declining revenues—totaling R$8.9 billion in the first half of 2025, down 9.5% year-over-year—and persistent losses, including R$4.37 billion for the same period. Labor disputes have compounded operational instability, with frequent strikes driven by union resistance to cost-cutting and efforts; for instance, a month-long strike in 2020 over unilateral termination of agreements ended only after a labor imposed daily fines of R$100,000 for non-compliance. High workforce costs, including benefits and pensions, alongside inefficiencies from state-owned status, have fueled a cycle of 12 consecutive quarters of losses by 2025, prompting the company to seek bank loans totaling over R$2.35 billion since late 2024 at interest rates up to 21.99%. Privatization emerged as a proposed solution during Jair Bolsonaro's administration, with a 2021 bill authorizing an auction passing the by a 286-173 vote, though it stalled amid union opposition citing constitutional protections for public . Under Luiz Inácio Lula da Silva's return in 2023, efforts shifted to government intervention, including a requested R$20 billion Treasury-backed loan in 2025 to avert collapse, despite analyst calls for overhaul to address dependency on subsidies and market competition. This ongoing tension reflects broader challenges of adapting a legacy monopoly to digital without fiscal bailouts, as private competitors erode viability in non-universal service areas.

Organizational Structure and Governance

The Empresa Brasileira de Correios e Telégrafos (ECT), commonly known as Correios, operates as a federal public enterprise with private-law personality, fully owned by the Union and classified as a closed-capital public company. Established by Decree-Law No. 509 of May 21, 1969, which transformed the prior Department of Posts and Telegraphs into an autonomous entity linked to the Ministry of Communications (now the Ministry of Science, Technology, Innovations, and Communications), ECT is governed by its corporate statute approved in assembly on September 15, 2022, and subject to federal oversight. Its legal framework emphasizes universal service obligations, including nationwide coverage regardless of profitability, while allowing diversification into competitive sectors like parcels. Correios holds exclusive monopoly rights over specific postal services, as enshrined in Article 21, XII of the 1988 Federal Constitution, which reserves to the Union the exploitation of postal services, and operationalized through No. 6.538 of June 22, 1978. This legislation grants ECT sole authority for the reception, transportation, and delivery of letters and postcards across national territory (including export), handling of grouped correspondence, and the manufacture and issuance of postage stamps. The monopoly covers letters up to 50 grams and postcards up to 20 grams, excluding internal business correspondence or occasional non-commercial transport, with violations subject to penalties including seizure. Telegram services, though largely obsolete, remain similarly reserved. These rights do not extend to parcels or express deliveries, where private competitors operate freely, enabling ECT to cross-subsidize universal obligations from higher-margin activities. Challenges to the monopoly persist, including antitrust probes for alleged overreach (e.g., restricting express delivery of items like checkbooks) and legislative efforts to liberalize the sector, such as Bill 591/2021 and recent commission approvals in 2025 for phased transitions. However, as of October 2025, judicial rulings and Decree No. 12.464 of May 21, 2025, have upheld core exclusivities, reinforcing ECT's role amid debates.

Management and Oversight

The management of Empresa Brasileira de Correios e Telégrafos () is structured around a collegiate Board of Administration (Conselho de Administração) and an Executive Directorate (Diretoria Executiva), with appointments heavily influenced by federal government ministries. The Board of Administration, comprising seven members, serves as the primary strategic oversight body, responsible for directing operations, ensuring service reliability and efficiency in line with ministerial standards, promoting transparency and legality in decision-making, safeguarding company assets, and optimizing investment returns. Members are elected by the General Assembly, with four nominated by the Ministry of Communications (the supervising authority), one by the Ministry of Management and Innovation in Public Services, one as the Correios president, and one as an employee representative, in accordance with Law No. 12.353/2010 governing state-owned enterprises. As of October 2025, the board is chaired by Emmanoel Schmidt Rondon, appointed on September 29, 2025, following approval by the board on September 19, 2025; other members include independent and ministry-indicated figures such as Juliana Nunes Escórcio Lima Moura and Gil Pinto Loja Neto, with mandates extending to 2027. The Executive Directorate, consisting of seven members including a president and six specialized directors, handles day-to-day operational execution and reports to the Board of Administration. These positions are elected by the board but nominated primarily by the Ministry of Communications, ensuring alignment with government priorities; the current president, Emmanoel Schmidt Rondon, assumed the role on September 29, 2025, overseeing directors responsible for areas such as and strategy (Juliana Picoli Agatte), economic-financial matters (Loiane de Carvalho Bezerra de Macedo), and operations (Sérgio Kennedy Soares Freitas). This structure emphasizes accountability through internal mechanisms like the Fiscal Council (Conselho Fiscal) for financial auditing, an unit, and an (Ouvidoria) for handling complaints and ethical concerns. Oversight extends beyond internal bodies to external government supervision, primarily by the Ministry of Communications, which sets policy directives and influences to fulfill the universal obligation. As a federal , Correios is subject to audits by the Tribunal de Contas da União (TCU), Brazil's federal court of accounts, which evaluates public fund management, holds officials accountable for irregularities, and conducts performance reviews to ensure fiscal responsibility and compliance with legal mandates. The company's framework, formalized in its Governance Policy, integrates principles of , accountability, and risk management, drawing from broader Brazilian guidelines assessed in international reviews for alignment with best practices. This multi-layered approach aims to balance operational autonomy with public accountability, though recent financial restructuring efforts highlight ongoing tensions between managerial decisions and fiscal oversight by the National Treasury.

Workforce and Operations Network

Correios employs approximately 87,000 direct workers, encompassing roles in mail delivery, , administration, and support functions, with a dedicated cadre of around 46,700 mail carriers as of early 2024. The workforce operates under agreements influenced by major unions, such as the National Federation of Postal Workers (Fentect), which has led multiple strikes over wages, working conditions, and resistance to reforms; notable actions include a 35-day nationwide strike in 2020 protesting cost-cutting measures and a indefinite strike announced in August 2024 demanding salary adjustments. Labor disputes have periodically disrupted operations, prompting court interventions, as in 2020 when Brazil's Superior Labor Court ordered workers back under penalty of fines. The operations network spans Brazil's 5,570 municipalities, fulfilling a obligation that ensures coverage even in remote and underserved regions, supported by over 10,000 agencies, more than 8,000 operational units including sorting and distribution centers, and a fleet exceeding 23,000 vehicles. Key hubs feature automated sorting systems installed in major cities like , , and Rio de Janeiro since the early 2000s, processing parcels and mail via high-volume machinery from suppliers such as and . For enhanced tracking, Correios has deployed RFID technology since 2022, with over 2,000 readers at entry/exit points of sorting centers and terminals nationwide, enabling real-time monitoring of containers holding hundreds of packages. This infrastructure, combined with franchises and community agents, totals around 12,000 access points, though full-time owned post offices number about 6,000, prioritizing urban density while extending to rural areas via partnerships.

Services and Operations

Traditional Mail Services

Correios provides traditional mail services, including the collection, sorting, distribution, and delivery of letters, postcards, and printed matter, fulfilling its obligation to connect all Brazilian addresses. These services operate under a legal monopoly for correspondence such as letters and postcards, excluding heavier parcels or express items, as established by Brazilian postal law reserving such carriage exclusively to the state-owned entity. The core offerings consist of Carta Simples for standard, non-trackable letters and postcards, suitable for personal or low-value communications, and Carta Registrada for items requiring proof of posting, delivery confirmation, and optional against loss or . Printed , including newspapers and magazines (Impresso Simples or Registrado), is also handled, often at reduced rates to support information dissemination. Collection occurs via street mailboxes, agency drops, and direct submissions at approximately 6,000 owned post offices and additional franchised units, forming a nationwide network that reaches urban centers daily and rural areas up to five times weekly. Delivery performance targets up to 7 working days for simple and registered letters/postcards, with 91.5% of items meeting this standard from January to September 2025, slightly below the 93% goal; for printed matter, the target extends to 15 days, achieving 91.93% compliance. Coverage extends to all 5,570 municipalities and 10,027 districts with populations over 500, though rural and remote deliveries may exceed targets due to logistical challenges. Volumes of traditional correspondence have plummeted amid digital substitution, with mirroring global trends: a 70% decline in letter postings over the past two decades, and localized drops like 47% in in 2023 alone. Despite this, Correios processed substantial quantities in 2023, representing about 87% of its volume in direct costs, underscoring the subsidized nature of these operations amid revenue erosion from and .

Parcel and Logistics Delivery

Correios operates parcel delivery services primarily through its SEDEX and PAC modalities, which cater to both domestic and international shipments. SEDEX provides express delivery options with guaranteed timelines, real-time tracking via the Correios app or , and features such as coverage up to certain values, targeting time-sensitive and needs. PAC, in contrast, offers a more economical standard service with delivery times typically ranging from 3 to 15 days depending on , suitable for less urgent parcels, and includes basic tracking. Both services support packages up to 100 kg and 105 cm in combined dimensions, with pricing determined by weight, dimensions, and origin-destination zones via CEP codes, calculated individually through the official online simulator that also considers posting date; no fixed freight tables are published for future years like 2026, as prices update periodically—the last adjustment occurred in April 2025 with an average increase of up to 9.6% for PAC services—and estimates for specific routes, such as packages up to 500g from São Paulo to Minas Gerais, require using the simulator. The company's operations leverage an extensive network of over 6,000 owned facilities and thousands of franchise points, facilitating last-mile delivery even in remote Amazonian and rural areas where private competitors face higher costs. In courier, express, and parcel (CEP) market, Correios maintains a dominant position with approximately 47% in parcel volumes, particularly in fulfillment, driven by its obligation and scale advantages. Parcel volumes surged more than 45% in 2021 amid expansion, contributing to a 20% revenue increase, though growth has moderated amid from entities like Mercado Libre's arm. To address rising demands from Brazil's sector, projected to exceed $50 billion annually, Correios has pursued logistics enhancements, including tenders for AI and integration to optimize routing, inventory management, and transparency as of March 2025. These initiatives aim to reduce delays in high-volume hubs like , which accounts for 42% of national parcel traffic, while supporting for returns—a critical component. Despite operational efficiencies, challenges persist from private entrants eroding margins in urban express segments.

Ancillary Financial and Digital Services

Correios offers primarily through Banco Postal, a network established in partnership with private banks to extend basic banking access to underserved populations via its extensive infrastructure. Launched in with Bradesco as the initial partner, the service transitioned to an exclusive arrangement with , which provides account opening, deposits, withdrawals, transfers, and payment processing, all regulated by Brazil's central bank to promote among the . This model leverages Correios' 6,000-plus agency network to handle transactions without requiring full banking branches, generating ancillary revenue streams alongside core postal operations. Additional financial offerings include Boleto bill payment collection, a widespread Brazilian payment instrument processed at Correios counters, enabling utility, invoice, and vendor payments for customers lacking digital banking access. These services have historically supplemented postal income, though their scale has faced competition from fintech alternatives in recent years. On the digital front, Correios provides tools like the official Super App, launched for mobile users to handle package tracking, postage calculation, agency location, CEP code lookup, and service requests in one interface, enhancing user convenience beyond physical mail handling. Complementary offerings encompass digital certificates (Certificado Digital) for secure electronic transactions and signatures, alongside developer APIs for e-commerce integration, including freight quotes and logistics APIs. A May 2025 decree further authorized expanded digital postal services, such as digitalization, electronic signatures, and marketing digital tools, aiming to adapt to online commerce demands. Correios also supports logistics, including e-fulfillment platforms where retailers store inventory in Correios warehouses for picking, packing, and last-mile delivery, reducing costs for small sellers by up to 47% through integrated storage and handling. Partnerships, such as with since 2014, facilitate cross-border fulfillment, while internal platforms like Mais Correios enable direct for select products. These digital extensions position Correios as a hybrid postal- provider amid rising parcel volumes from growth.

Financial Performance and Economic Impact

Throughout the , Correios incurred significant net losses, attributed to operational inefficiencies, declining mail volumes, and rising labor costs amid Brazil's economic . In 2015, the company reported a net loss of R$2.1 billion, followed by R$1.4 billion in 2016, reflecting challenges from reduced traditional correspondence and in parcels. A turnaround occurred during the late under cost-cutting measures, including workforce reductions and expansion. Net profit reached R$1.53 billion in 2020, driven by pandemic-related parcel demand surges. This peaked in 2021 with a record net profit of R$3.7 billion (or R$2.3 billion in some adjusted operational metrics), marking the highest in the company's history and a 101% increase from 2020. Profitability reversed in 2022 with a net loss of R$767 million, amid reverting labor policies and softening growth. Losses escalated thereafter: approximately R$1-2 billion in 2023, R$2.5 billion in 2024, and R$4.3 billion in the first half of 2025 alone, exceeding the prior year's full-year deficit and signaling structural vulnerabilities.
YearNet Profit/Loss (R$ billions)
2015-2.1
2016-1.4
2020+1.53
2021+3.7
2022-0.767
2024-2.5
This table summarizes key audited net results, highlighting the shift from chronic deficits to brief profitability before renewed losses, influenced by external demand cycles and internal governance changes.

Recent Losses and Restructuring Efforts

In 2021, Correios achieved a record profit of R3billion,butthecompanyshiftedtolossesstartingin2022withadeficitofR 3 billion, but the company shifted to losses starting in 2022 with a deficit of R 767 million, followed by R600millionin2023,R 600 million in 2023, R 2.6 billion in 2024, and R4.37billioninthefirsthalfof2025alone—afigurethattripledtheR 4.37 billion in the first half of 2025 alone—a figure that tripled the R 1.36 billion loss from the same period in 2024. This marked 12 consecutive quarters of deficits since early 2022, driven by declining revenues from traditional mail and parcels amid competition from private logistics firms, elevated personnel and pension costs for an aging workforce, rising legal liabilities, and an outdated operational model ill-suited to demands. Cash reserves eroded sharply from R2.9billionattheendof2023toR 2.9 billion at the end of 2023 to R 126 million by mid-2025, prompting delays in supplier payments and operational constraints. To address the crisis, Correios unveiled the first phase of an operational and financial restructuring plan on October 15, 2025, emphasizing , modernization, and restored competitiveness while aiming to stabilize stakeholder relations. Key measures include a new program (PDV) targeting underperforming sectors to reduce pressures, the sale of idle assets such as unused properties (e.g., a Salvador building with an expected yield of R109–145million),andrenegotiationofcontractswithmajorsuppliersforimprovedterms.[](https://agenciagov.ebc.com.br/noticias/202510/correios−anuncia−primeira−fase−do−plano−de−reestruturacao−para−garantir−sustentabilidade−e−modernizacao−da−empresa)[](https://www.cnnbrasil.com.br/economia/macroeconomia/com−r−20−bi−em−emprestimos−correios−anunciam−plano−de−reestruturacao/)Financially,theplaninvolvesnegotiatingaR 109–145 million), and renegotiation of contracts with major suppliers for improved terms.[](https://agenciagov.ebc.com.br/noticias/202510/correios-anuncia-primeira-fase-do-plano-de-reestruturacao-para-garantir-sustentabilidade-e-modernizacao-da-empresa)[](https://www.cnnbrasil.com.br/economia/macroeconomia/com-r-20-bi-em-emprestimos-correios-anunciam-plano-de-reestruturacao/) Financially, the plan involves negotiating a R 20 billion from public and private banks—potentially backed by guarantees—to cover needs through 2026, alongside efforts to diversify revenues via re-engagement with large clients and expanded . Approval by the is pending, with subsequent phases contingent on initial progress toward profitability, projected no earlier than 2027. Analysts have welcomed the initiative as a necessary step but caution that it addresses symptoms rather than root causes like entrenched high costs and structural inefficiencies, with short-term relief unlikely amid ongoing revenue declines and competitive pressures. A prior cost-cutting effort targeted R$ 1.5 billion in savings by end-2025, yet escalating losses suggest deeper reforms, potentially including private capital infusion or reevaluation of obligations, may be required for viability. The Treasury's potential involvement in loan guarantees has raised fiscal concerns, given Correios' history of management issues and the risk of taxpayer burden without fundamental overhaul.

Comparisons to Private Competitors

In the parcel and logistics segments, where competition is open, private operators such as , , UPS, and domestic firms like Jadlog and Loggi have increasingly challenged Correios' dominance, capturing growth in deliveries through specialized express services. Correios retains over 50% market share in Brazil's , express, and parcel (CEP) sector, benefiting from its extensive infrastructure, but private competitors have expanded rapidly amid the market's projected growth from USD 5.82 billion in 2025 to USD 7.63 billion by 2030 at a 5.56% CAGR. Private firms typically outperform Correios in urban delivery speed and technological integration, such as real-time tracking and automated sorting, enabling 1-2 day express options in high-density areas, compared to Correios' standard parcel times that often exceed three days due to centralized processing and mandates covering remote regions. Government benchmarks require Correios to achieve 95% letter delivery within five working days and 90% within two, yet parcel reliability falls short in competitive audits, with private operators reporting higher on-time rates in benchmarks driven by flexible routing and lower fixed costs. Cost structures highlight disparities: Correios offers lower base rates for standard shipments—averaging 20-30% below private express equivalents—subsidized by its scale and monopoly on mail, but incurs higher per-unit operational expenses from a bloated of over 80,000 employees and rigid labor agreements, contributing to recent losses of R$4.3 billion in the first half of 2025 alone. Private competitors, unburdened by rural universality, maintain leaner operations and profitability in profitable urban corridors, adapting quickly to demand surges via outsourced last-mile networks. Customer satisfaction metrics, though fragmented, indicate private express services edge out Correios in reliability for time-sensitive parcels, with users citing fewer delays and better responsiveness, while Correios excels in affordability and nationwide reach but struggles with complaints over lost items and service disruptions amid financial strain. Analysts attribute Correios' competitive lag to state-driven inefficiencies, including delayed tech adoption, contrasting with private firms' market-responsive models that prioritize cost control and .

Controversies and Scandals

Corruption Scandals Involving Politicians

The , Brazil's largest political corruption case prior to , originated from allegations of graft within Correios in 2005. Maurício Marinho, president of the Correios employees' union, publicly denounced irregularities in advertising contracts awarded to agencies linked to political interests, including overpricing and kickbacks totaling millions of reais. These revelations prompted the creation of the Joint Parliamentary Commission of Inquiry on Correios (CPMI dos Correios) on June 28, 2005, initially tasked with probing procurement fraud but expanding to uncover a broader vote-buying scheme orchestrated by the (PT) government under President . During the inquiry, deputy Roberto Jefferson alleged that PT operatives paid monthly bribes of R$30,000 to over 70 federal lawmakers from allied parties to secure legislative support for government bills between 2003 and 2005. Funds for the scheme were allegedly laundered through public advertising contracts at Correios and state banks like , with agencies such as SMP&B receiving inflated payments that funneled cash to politicians. The CPMI's final report in March 2006 confirmed the existence of systematic monthly payments (mensalão) for political loyalty, implicating high-level PT figures in corruption, , and , though it stopped short of directly indicting Lula due to insufficient evidence of his personal involvement. In a landmark 2012 trial by Brazil's , 25 defendants, including politicians and PT operatives, were convicted on charges of , , and forming a criminal . Key figures such as José Dirceu, Lula's former , received a sentence of 10 years and 10 months for active and ; Delúbio Soares, PT treasurer, was sentenced to 8 years and 11 months for similar offenses; and Roberto Jefferson himself faced 7 years for passive , despite his whistleblower role. The convictions, upheld on appeal, marked the first time Brazil's highest court held senior politicians accountable for systemic graft, recovering approximately R$100 million in diverted funds and exposing how state enterprises like Correios served as conduits for partisan financing. Subsequent probes revealed no major new scandals directly tying politicians to Correios on the scale of Mensalão, though the enterprise has faced recurring accusations of politicized contracts under various administrations.

Operational and Labor Disputes

Correios has experienced frequent labor disputes, often escalating into strikes by its approximately employees, centered on demands for increases, preservation of benefits, improved working conditions, and resistance to structural reforms including proposals. These conflicts have periodically disrupted postal operations nationwide, leading to and parcel backlogs, delayed deliveries, and economic repercussions for businesses reliant on timely service. A prominent example is the 2020 strike, which began in mid-August and lasted 35 days until late September, involving widespread participation against government-backed efforts under President and proposed 5% reductions despite the company's reported profitability of R$1.3 billion the prior year. Unions framed the action as a defense against benefit cuts and , but ended the strike following internal divisions and pressure, resulting in the forfeiture of 50 of 79 clauses from the prior , including some on and health benefits. The Tribunal Superior do Trabalho (TST) later ruled the strike non-abusive in 2021, fulfilling legal requirements under Brazil's strike law, and mandated a 2.6% adjustment. In August 2024, workers in at least nine states initiated an indefinite strike on August 8, halting , delivery, and administrative functions in over stalled negotiations on salaries and operational demands, which TST mediation resolved on August 23 through a mediated agreement restoring services. Similar operational halts occurred in a 2011 strike lasting 23 days from mid-September, where regional unions rejected a mediated pay compromise, exacerbating delivery delays across . A 2017 strike of 11 days similarly caused measurable business losses, with one retail manager reporting a 15% sales decline due to undelivered invoices and parcels. Amid Correios' reported net losses exceeding R$4 billion in the first half of 2025, management proposed cost-cutting measures in May 2025, including reduced work hours with proportional pay cuts, suspension of 2025 vacations, and elimination of options, prompting union calls for dialogue to avert escalation rather than immediate strikes. TST interventions have consistently emphasized legal compliance, as in a July 2025 ruling barring punishment of a worker for participating in a peaceful strike, underscoring judicial limits on employer retaliation while prioritizing service continuity. These disputes highlight tensions between fiscal pressures from declining mail volumes and competition, and union priorities for employment stability in a state-owned entity.

Monopoly Abuses and Service Failures

Correios, holding a statutory monopoly on the delivery of correspondence weighing up to 50 grams within , has been accused of leveraging this position to impede in adjacent parcel and express delivery markets. 's Administrative for Economic Defense (CADE) initiated investigations into practices such as filing repeated lawsuits and seeking judicial injunctions against private couriers attempting to deliver items like magnetic cards, checkbooks, and other non-monopolized via express or services, actions deemed as of dominant position. In 2016, CADE formally probed these tactics as efforts to unlawfully extend monopoly protections into competitive segments, including predatory litigation that delayed rivals' operations and raised their costs. Correios settled a related dominance case in 2019 without admitting fault, agreeing to cease such interferences. Further scrutiny arose from allegations of discriminatory refusal to provide transport services to competitors, violating antitrust norms under Brazil's Law 12.529/2011, which prohibits dominant firms from leveraging across segments. These behaviors, rooted in Correios' exclusive rights granted by Decree-Law 5095/1967, have drawn criticism for stifling and in , as private entrants like and faced legal barriers to scaling operations. Service reliability has markedly declined amid operational mismanagement and financial strain, exacerbating monopoly-induced complacency. By 2025, after 362 years of uninterrupted monopoly, Correios routinely failed to meet its historical standard of 72-hour nationwide delivery for standard , contributing to widespread dissatisfaction. Complaints to agencies spiked in May 2025, with delays in parcel delivery and undelivered items comprising the majority of grievances, reflecting broader deterioration in network performance. Critical infrastructure lapses compounded these issues; on June 4, 2025, Brazil's National Civil Aviation Agency (ANAC) grounded all operations indefinitely due to unresolved violations, including inadequate and compliance failures in its fleet, halting aerial and parcel nationwide. Earlier, in March 2025, unpaid subcontractors—responsible for last-mile deliveries—threatened mass service stoppages after weeks of delayed payments totaling millions of reais, risking widespread disruptions in urban and rural areas. These failures, absent competitive pressures, underscore systemic inefficiencies, with service metrics lagging behind private firms that achieve faster, more traceable deliveries.

Privatization Debates

Economic Arguments for Privatization

Correios has incurred substantial financial losses in recent years, with a deficit of R$4.37 billion recorded in the first semester of 2025 alone, surpassing the full-year loss of R$2.6 billion in 2024 and marking 12 consecutive quarters of deficits since 2022. These ongoing shortfalls, driven by declining revenues from traditional mail services amid shifts and rising operational expenses, impose a direct fiscal burden on the Brazilian government through required loans and implicit guarantees, heightening public debt risks. proponents argue that divesting the would eliminate this taxpayer exposure, enabling private capital to absorb losses and fund turnaround efforts without recurrent public subsidies. A key economic rationale centers on enhancing , as Correios' status fosters rigidities such as inability to abandon unprofitable routes, excessive personnel costs, and an aging fleet, which have eroded its market position against private logistics firms capturing over 90% of express parcel volumes in competitive segments. Private competitors like Loggi and emerging partnerships such as Uber-Loggi demonstrate superior adaptability through technology integration and domiciliary pickups, serving high-volume urban areas more effectively while Correios grapples with obligations costing an estimated R$6 billion annually in subsidized remote deliveries. Transferring ownership to profit-oriented entities could incentivize cost reductions, route optimization, and labor reforms, mirroring gains in liberalized postal markets where drives and lowers unit costs without compromising core services via targeted public-private partnerships. Privatization could also generate immediate fiscal relief through asset sale proceeds, projected at R$1-3 billion, which could offset public debt and fund transitions, while long-term benefits include reduced interference and access to private for modernization. Empirical precedents, such as Germany's , illustrate how partial from 1989 onward transformed a state postal operator into a global leader by fostering mergers, technological upgrades, and market expansion, yielding sustained profitability and service enhancements. In Brazil's context, where Correios' patrimony has deteriorated from R$2.9 billion positive in 2021 to R$8.7 billion negative by 2025 due to mismanagement and lack of competitive pressures, such reforms would align incentives toward value creation rather than political .

Social and Accessibility Concerns Against Privatization

Opponents of privatizing Correios emphasize its statutory obligation, which requires nationwide coverage across Brazil's 8.5 million square kilometers, including remote rural areas, Amazonian river communities, and isolated small towns where deliveries are inherently unprofitable. This mandate ensures that postal services remain accessible regardless of geographic or economic viability, a commitment that private operators might abandon to prioritize lucrative urban routes, potentially leaving millions in underserved regions without reliable mail, parcels, or essential government correspondence. Labor unions and critics argue that such selective service would disproportionately harm low-income populations dependent on affordable postal access for remittances, medications, and official documents. Correios operates over 6,000 post offices and agency points, many in economically marginal areas, facilitating social inclusion by integrating with government programs for the needy, such as benefit distributions and services. advocates for involvement, as proposed in Draft Law 591/2021, could erode this network, leading to agency closures in low-volume locales and higher tariffs subsidized by taxpayers or consumers to maintain any residual universal obligations. Opponents, including groups, contend that this would amplify barriers for vulnerable groups, echoing experiences in other nations where postal resulted in rural surcharges and service gaps. Social concerns also center on employment impacts, with Correios employing around 80,000 workers whose jobs could face cuts under private management focused on cost efficiencies, exacerbating amid Brazil's economic challenges. Unions highlight risks of precarious labor practices, reduced worker protections, and diminished support for small businesses reliant on Correios for low-cost of modest shipments, which private entities might deprioritize. Critics further warn of price hikes, estimating that could inflate costs for basic services, straining household budgets in a context where Correios currently handles high-volume, affordable for the broader . These arguments underscore fears that market-driven operations would prioritize profitability over equitable access, potentially deepening regional disparities.

Policy Developments and Government Stances

In January 2023, shortly after assuming office, President Luiz Inácio Lula da Silva's administration removed Correios from Brazil's National Privatization Program, halting efforts initiated under the previous government and aligning with Lula's stated policy of strengthening state-owned enterprises rather than divesting them. Under the Jair Bolsonaro administration (2019–2022), Correios achieved record profits, including R$1.5 billion in 2020 and R$3.7 billion in 2021, amid pandemic-driven e-commerce growth, while advancing privatization studies that culminated in a July 2021 decision to pursue full divestiture of the postal service. However, financial challenges emerged in mid-2022, marking the onset of consecutive quarterly losses that persisted into the subsequent administration. The Lula government has prioritized operational restructuring over , announcing a comprehensive cost-cutting plan in May 2025 following a R$2.6 billion loss in 2024, which included measures to address inefficiencies amid declining revenues from traditional mail services. In response to escalating deficits—reaching R$4.3 billion in the first half of 2025—federal authorities negotiated a -backed R$20 billion loan with banks in October 2025 to provide , despite concerns over guarantees and long-term dependency. This intervention reflects a stance favoring public recapitalization, as evidenced by Correios' earlier 2023 request for R$7 billion in subsidies through 2026, which the resisted to avoid entrenching fiscal reliance. A October 2025 judicial ruling further supported Correios' state role by mandating preferential status in federal contracting, potentially bolstering revenues but raising questions about competitive fairness in public procurement. Despite a 22% reduction in annual losses during 2023's initial post-privatization halt phase, the company's structural challenges— including outdated operations and competition from private —have prompted ongoing government scrutiny without reverting to divestiture proposals.

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