For the year ending December 31, 2020, La Poste’s revenue totalled €31.2bn, up by 20.0% y-o-y. This significant increase has been linked to the success of the Parcel and Express businesses as e-commerce boomed during the pandemic. Operating profit increased by 254.2% to €3.1bn from €889 in 2019, the operating margin was 10.1%.
Revenues for the Services-Mail-Parcels branch totalled €12.2bn, a decrease of 1.8% y-o-y. The segment also saw operating profit fall to -€1.1bn from €410m in 2019. The Parcel business (Colissimo) recorded strong revenue growth of 20.1% to €2.3bn, linked to a boom in e-commerce since April, resulting in strong growth (+28.8%) in the volumes of parcels processed, resulting in 471m items being delivered. With regard to operating profit, Parcels strong performance led to strong growth in operating profit (+37.2%), to €236m, thanks to the reinforcement of the network which enabled it to cope with the strong growth in volumes. Lastly, the operating profit of the Subsidiaries stood at €53m, an increase of €49m, due to Asendia’s performance.
GeoPost’s revenue rose sharply to €11.0bn (up 42.1%) as did operating profit to €793m, an increase of 109.2% compared to 2019, as a result of the volume effect of +23.6%. Overall, GeoPost delivered 1,868m parcels over the period, driven by the explosion in e-commerce observed since April due to the health crisis, and the resulting boom in the B2C segment (55.2% of volumes in 2020 vs. 45.2% in 2019). Most countries delivered higher organic operating revenue (+37.7% in the United Kingdom, +37.0% in Benelux, +28.9% in Russia, +25.6% in Poland, +19.0% in Spain and +13.7% in Germany). Operating revenue from New Urban Services amounted to €74m, an increase of 39.5%, due in particular to the activity of Stuart (express urban delivery operator).
The year 2021 will be a year of uncertainties, given the persistence of the health crisis, fraught with macroeconomic impacts and contrasting effects on the group’s activities. In this context, the group is set to continue its efforts and the savings-plan implemented in 2020, in order to limit the impact on its future results.
Source: Le Groupe La Poste
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