Strong growth in B2C parcel volumes helped Poste Italiane to a 9.9% increase in EBIT in the second quarter of the financial year compared to Q2, 2022.
Poste Italiane’s EBIT grew to €799m compared to the same period in 2022 when it took €727m. Revenues were up 8.5% in the same period to €3.007bn. Speaking of the overall results, CEO Matteo del Fante said, “Once again, we have delivered a solid quarter and ended the first half of the year on a highly positive note.”
B2C parcel volumes were up 9.2% compared to Q2, 2022, to 44m pieces in the quarter, whilst B2C parcel revenue grew by 5.2% to €183m.
Overall parcel volumes grew 3.6%, although revenues fell by 1.2%, in part impacted by a drop in B2B volumes of 11.1%. Even so, Del Fante said of the Mail, Parcels & Distribution segment, “Revenues remain resilient thanks to repricing actions.”
International parcel revenues grew by 17.6% compared to Q2, 2022, led by a new partnership between Poste Italiane and DHL eCommerce Solutions signed in March. Under the agreement, DHL Group handles international parcel road freight from Italy to the rest of Europe. Poste Italiane delivers the final mile of DHL eCommerce Solution’s parcels to Italian addresses. As part of the agreement, in the coming years, DHL Group will install parcel lockers for Poste Italiane across the country, improving first time delivery rates and helping reduce carbon emissions per parcel.
In July this year, Poste Italiane and Italian digital freight forwarder company Sennder agreed a 10-year extension of their existing agreement. The digital freight forwarder enables Poste Italiane to send FTL shipments by small haulage companies while having full visibility of the consignments in the process.
As a whole, Del Fante is confident in the future for the postal operator that has seen strong revenue and profit growth even amidst the economic uncertainties that have beset so many other European postal operators. He concluded, “I continue to see a bright future for Poste Italiane, thanks to our investments aimed at further improving our capabilities across technology, products, people: we are uniquely positioned to capture opportunities ahead”.
Author: Richard Shrubb
Source: Poste Italiane
