Poste Italiane presents the new Strategic Plan “2024 Sustain & Innovate”. After consolidating the results of the previous Deliver 22 plan, Matteo Del Fante - CEO of Poste Italiane - presents analysts with new strategies for the next four years, with a further predominance of logistics and a financial focus on the growth of insurance and consultancy services to savings. Goals: Net income to 1,6 billion in 2024 (+33% compared to 2020), revenues to 12,7 billion (with an annual growth rate of 3%), Operating income equal to 2,2 billion (in 2020 it was equal to 1,5 billion) and growth of coupon equal to 35% over the period of the plan.
The group expects the "Mail, Parcels and Distribution" segment to post a profit in 2025 and revenues of 3,9 billion in 2024 (in 2020 they were 3,2 billion). THE parcel revenue they should reach 1,8 billion (from 1,16 in 2020), offsetting the drop in mail.
The plan also provides for a constant growth of insurance services, with Life products at the heart of the group's wealth management, and growth in the non-life business. The sustainability coefficient is expected to exceed 200%.
Poste also aims to "develop the telco business in a unique way with the intention of providing customers with higher value-added services, including the energy supply which will start from the beginning of 2022”.
Finally, Poste Italiane plans to become a net-zero company by 2030: "The complete redesign and renewal of the postman fleet will allow for a 40% reduction in emissions, enabled by the introduction of hybrid and all-electric vehicles", reads the note.
“With our 2024 Sustain & Innovate Plan we are able to build and grow on the solid foundation laid by the Deliver22 plan, with targets achievable in all four of our business divisions – comments Matthew Del Fante, managing director and general manager of the group – Revenue will grow steadily throughout the plan period, with operating income and net income up 5% and 6% respectively (CAGR), generating incremental growth inEBIT between 2019 and 2024 equal to 0,4 billion euros. After a 14% increase in 2021, the dividend per share will benefit from 6% annual growth. In addition, the transformation of the Mail and Parcels segment is in full swing, and it will be the first time that parcels will have a higher impact on revenue than mail”.
In financial and insurance services, "the priority is to become the main point of reference for all customer needs, from savings to insurance and loans, thanks to data-driven consultancy services, through all Poste Italiane's distribution channels - he continues the manager – We will leverage cross-selling and up-selling skills in the Payments and Mobile segment, confirming our leadership in digital payments, introducing the broadband connection offer and entering the energy market in 2022, with a fair, competitive and easy to understand offer”.
Del Fante then announced that 25% of Poste Italiane's workforce will be renewed by 2024.
Il stock on the stock exchange of the group gained 1,24% at the beginning of the afternoon, to 10,585 euros.
