Poste Italiane’s total revenue in H1 2016 grew by 10.9% year-on-year to €17.7bn, with the increase largely driven by its Insurance Services and Asset Management division, which had revenues of €12.9bn (+14.5% year-on-year). Operating profit increased by 32.1% to €843m, thanks to significant improvements in all three of its divisions: Financial Services, Insurance Services and Postal and Business Services.
The Postal and Business Services division reported an operating profit of €74m in H1 2016, up from a loss of €89m in H1 2015. While the segment’s external revenues fell by 2.5% to €1,884m, mainly thanks to mail volumes falling by 10.3%, inter-segment revenues were up by 8.1% to €2,440m, largely on account of distribution services provided to sister entity BancoPosta. Total revenue increased by 3.2% to €4,324m.
Within the Postal and Business Services segment, the express delivery, logistics and parcel business registered revenues of €314m, up by 7.1% year-on-year. Parcel volumes increased by 14.0% to 46m, thanks to growing e-commerce volumes.
Looking ahead, Poste Italiane has stated that it will be “further improving its competitive position in the express delivery and parcel markets, where there will be continued attention for B2C, a growing segment driven by e‐commerce.”
Source: Poste Italiane