An Post said it has repaid in full - and on schedule - a €30m loan advanced by the Government in 2017 to support the first phase of the company's transformation.
The money was loaned to An Post to invest in a new strategy for financial services, its national and international Ecommerce parcels businesses and the purchase of its first tranche of electric delivery vehicles.
An Post said that after coming through the challenges of the pandemic, it was now in a position to repay this loan on schedule.
It also said it did not need the available 12-month extension on the loan.
An Post chief executive David McRedmond said that after returning to growth and positive cash-flow after the Covid pandemic, and having sold its interest in the National Lottery licence, it has repaid in full this Government loan.
Mr McRedmond said that An Post has now completed moving its headquarters to the EXO building in Dublin.
It has also concluded a transformation deal with employees, implemented a new pensions deal, driven growth in its retail business to achieve a second year of profit and secured new ecommerce parcel contracts with Irish and global brands.
"We've also developed the world's first trackable digital stamp and steadily reduced our carbon emissions," the CEO said.
"The company is well set to move to a new phase of transformation thanks to the foresight and hard work of officials across Government in providing this loan in 2017, now fully repaid," he added.
