La Poste Group announce 2022 half-year results

La Poste has released its 2022 half-year financial results. The company reported revenues of €17.5bn, up 3.7% and 1.4% at constant scope and exchange rates in comparison to H1 2021. Operating profits decreased to €0.4bn, vs €1.1bn in H1 2021. Net profit increased to 0.9bn from 0.5bn last year.

The company reported the continued fall of mail volumes, down by 6.1% vs the end of June 2021. The removal of the restrictions related to the health crisis in several countries led to a 5.2% decrease in parcel volumes compared to an exceptional first half of 2021.

The company stated it is looking to make significant investment efforts by 2025, driven by its ‘La Poste 2030, committed for you’ strategic plan. This includes €600m dedicated to doubling the number of electric vehicles, and €800m dedicated to the modernisation of the omnichannel distribution network of the Retail Customers and Digital Services business unit and to accelerating its digital transformation.           

GeoPost, the group’s international division, reported that total volumes were down slightly in H1 2022 compared to H1 2021, with 1bn parcels delivered worldwide (-2% compared to in H1 2021). However, despite facing challenging conditions in 2022, such as the war in Ukraine, a slowdown in consumption, rising inflation, energy cost increase and drivers’ shortage, revenue increased by 4.5% y-o-y to €7.5bn. This is largely due to B2B volumes and revenue growing and exceeding pre-Covid levels, whilst B2C decreases.

Throughout the first half of 2022, GeoPost/DPDgroup has been pursuing its’ Together and Beyond’ development strategy. This has included expanding its out-of-home delivery services, continuing to roll out its food services, as well as finalising the acquisition of CitySprint, a UK based Same Day Delivery Network.

Source: La Poste