Poste Italiane's profitable growth thanks to parcels and digital
The results for the first half year exceed analysts' expectations both in terms of revenues and profit. The group's perspective is to grow further in the logistics sector and at the same time to become increasingly digital as a service model
Italian post reaps the benefits of the business diversification strategy launched some years ago and closes the first half of 2023 with results decidedly above analysts' expectations both in terms of revenues (6.1 billion, +8.3 per cent compared to the same period of 2022) and profit (1.1 billion, +16 per cent). “The market and time proved us right – said the CEO Matthew Del Fante – our strategic choices were correct. Now we have another three years ahead of us and we are already working hard on the next plan”. The perspective of the Poste group, which is one of the five involved in the rescue of the Eurovita company, is of grow further in the logistics sector and at the same time become increasingly digital as a service modelbut taking into account the needs of a varied user.
In reconstructing the growth path followed so far, Del Fante mentioned the positioning in the parcel handling sector (very competitive, considering how consumption models linked to ecommerce are evolving) and in digital payments: "We have become the largest operator in the country, think that almost 40 percent of online payments in Italy are made with a Postepay". An objective that cannot be taken for granted considering where Poste Italiane started from before the listing on the Stock Exchange in 2015 which required a more managerial and results-oriented management. “We are transforming Poste Italiane into an increasingly digital and customer-centric company, an operationally efficient company, with a clear path to profitable growth”, observed the CEO thus confirming "great confidence in the guidance for 2023". And the analysts of Equita also agree on the group's rosy prospects, according to which Poste Italiane's results for the first half-year are solid even net of the positive effect linked to the revaluation of the stake held in the logistics company Sennder Technologies. Even without considering this capital gain, the accounts would still have been above market estimates.
