Thursday, June 1, 2023

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Poste Italiane, Group records increasing profits in 2023 and presents new corporate strategies

2023 opened under the banner of a conspicuous increase in profit for Poste Italiane . In a press release , the Group highlighted the “ solid financial performance in the first quarter of 2023 ”, which is configured “ broadly in line with the achievement of the guidance for the year ”. From the quarterly report we learn how the net profit recorded in the first quarter of the current year reached 540 million euros , by virtue of an increase of 9.4% compared to the same period of 2022 . The operating result, on the other hand, settled at 767 million euros (in relation to the same period of time), compared with “ a growth of 11.2% y/y thanks to the positive contribution of all businesses ”.

Data by product segments

The Chief Executive Officer and General Manager of Poste Italiane, Matteo Del Fante , explained how " commercial trends were favorable in all business lines ", supporting the growth recorded by the Group's activities during the first three months of 2023 In particular, the volumes of parcels in the B2C sector increasedin the context of a stable market ”; at the same time, “ mail revenues improved thanks to repricing actions and higher value-added services ”. As far as financial services are concerned, “ the dynamics of interest rates favored the increase in the recurring interest margin ”, explained Del Fante.

Insurance services are also growing; as a result of the adoption of IFRS17, Poste Italiane benefited from positive net inflows of just over €2 billion , with a redemption rate of less than 4%. “ Double-digit ” growth also for the Payments and Mobile segments , thanks to an 18% increase in the value of transactions .

Strategies for the future

As disclosed in the press release published by , on 30 March the Group presented the update relating to the strategies for 2023 to the financial community . At the same time, the Strategic Business Unit was revised, " improving the dividend policy for the years 2022 and 2023 ". At the same time, the Group confirmed its propensity towards " a diversified and integrated business model " , oriented towards the transformation of Poste Italiane into "a 360-degree logistics operator". This growth perspective includes the acquisition of Plurima, functional to the specialization in hospital logistics, the five-year renewal of the partnership with Amazon and the new collaboration agreement with DHL, " which confirms the Group's commitment to business development international" , as stated in the press release.

Furthermore, Poste Italiane announces that it will continue to modulate its offer and the costs of services to users " managing the structural decline linked to e-substitution ". From this point of view, efforts will continue to implement the digital transformation of the activities and services provided by the Group (the acquisitions of Sourcesense and Agile Lab last year also fall within this perspective). The process has already involved numerous 'basic' postal products, also made available in digital/telematic format; this is the case, for example, of the telegram , which can be sent online – instead of on paper – using the special tool on the Poste Italiane website or via a specialized portal such as . The same evolution has also affected the sending of registered letters and some express delivery services (such as Posta 1 and Posta 4).

Furthermore, within the framework of the measures envisaged by the PNRR, Poste Italiane will also invest in the implementation of POLIS , a strategic social cohesion project – involving thousands of municipalities with less than 15,000 inhabitants – which envisages the transformation of local post offices into a "house of digital services of the public administration ”. Investments will also continue to achieve carbon neutrality by 2023 , through strategic initiatives such as the renewal of the company fleet and the installation of photovoltaic systems for the energy supply of buildings.

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The article Poste Italiane, Group records rising profits in 2023 and presents the new business strategies comes from Scenari Economici .

This is a machine translation of a post published on Scenari Economici at the URL on Wed, 24 May 2023 22:01:49 +0000.