Poste Italiane confirms strong results in 2Q18 and 1H18

Net profit at €735m in 1H18 up 44% vs 1H17. Deliver 2022 key initiatives well on track.

In Rome, 2 August 2018, the Board of Directors of Poste Italiane S.p.A (or “the Group”) approved First Half 2018 financial results underpinned by a continued positive progression towards Deliver 2022, the five-year strategic plan aimed at unlocking the value of the Group’s unique distribution network capabilities.

Commenting on the results, Matteo Del Fante, Poste Italiane’s Chief Executive Officer and Managing Director said: “Poste Italiane is solidly progressing in line with our Deliver 2022 targets. The second quarter results confirm the early positive impact of the plan’s execution. I am very pleased with the early results of the roll-out of the Joint Delivery Model, characterized by a flawless implementation. We offer, amongst other, evening and weekend deliveries. We are efficient and competitive in the eCommerce space with a range of products for B2C customers, that is why Amazon chose us as a long-term partner. I am proud to have partnered with FIT1 in order to further enhance eCommerce penetration in Italy with the reach of their points of sale allowing us to keep a solid grip on our market position. We are building on the fact that 1 in 3 parcels in Italy are delivered by Poste Italiane, whilst 1 in 4 purchases on line are paid with Postepay cards. Our leadership in eCommerce is positioned to further strengthen with Deliver 2022, with B2C volumes increasing by 40% in the first half of the year including international packets.

We are also seeing very positive results in our group-wide digital vision which is accelerating with our e-money institution due to go-live by the end of the year.

People are key to our strategy and we will offer 20 million training hours over the plan for all our colleagues, and we are also in the process of hiring 500 university graduates for Customer Relationship Manager roles across our unique 12,800 strong branch network.

We have signed successful third party asset management and loans/mortgages distribution agreements with positive results leveraging our trusted, extensive branch network reaching all Italian municipalities, be they large or small. Our controlled open platform and distribution model is up and running with a focus on IT systems and staff training.

Deliver 2022 execution and monitoring is our daily focus. We will continue to aim high, making sure to provide quality products and services that meet our customers’ evolving needs.

Our 2018 targets are confirmed for both the group and each business unit.”



Source: Poste Italiane

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