Poste Italiane is Italy's largest service infrastructure and its services play an important role in society. We operate in three lines of business, in all of which we lead the market:
Post and parcel sector, a business that has benefited from the rise of e-commerce and the dynamic nature of the parcels market;
Financial Services, through BancoPosta;
Insurance, where we lead the life market in Italy, and asset management, an area in which we are expanding.
Our purpose: Grow responsibly thanks to the decisive contribution of its people to the sustainable success, innovation, digitisation and social cohesion of the country.
Poste Italiane has issued shares listed on the Mercato Telematico Azionario (Electronic Stock Exchange - MTA) organised and managed by Borsa Italiana SpA as of 27 October 2015. At 31 December 2022, the Company is 29.26% owned by the Ministry of the Economy and Finance (MEF) and 35% owned by Cassa Depositi e Prestiti SpA (CDP), also controlled by the MEF. The remaining shares are held by institutional and retail investors. A total of 33.9%2 of the shares held by institutional investors of Poste Italiane SpA belong to investors who follow ESG (Environment, Social, Governance) criteria in their investment choices.
Since May 2023, Silvia Maria Rovere is the Company’s Chairwoman. Since April 2017 Matteo Del Fante is Chief Executive Officer and General Manager. Giuseppe Lasco was appointed Co-General Manager in May 2020.
Poste Italiane constitutes the largest service distribution network in Italy, covering activities that range from logistics, letter and parcel delivery and financial and insurance services to payment systems and telecommunications.
The Group’s recent entry into the energy market confirms the Company as a reference point for satisfying the needs of Italian families, no longer only related to savings, investment, financing, fixed and mobile telephony and fibre, but also linked to electricity and gas.
Besides it is an integral part of the Country’s economic, social and production fabric and is a unique entity in Italy in terms of
size, recognisability and widespread coverage. The Company’s activities therefore generate significant impacts throughout the
territory, also with a view to achieving the Sustainable Development Goals (SDGs).
The Company plays an important role in the country, making a strong contribution to the production chain and the national economy: by investing and operating together with other operators in its value chain, it generates positive results not only through its own business, but also by generating externalities through the activation of a local supply chain.
In 2022, the Poste Italiane Group generated impacts on the country in terms of Gross Domestic Product (GDP) totalling €12.9 billion, as well as supporting around a total 181 thousand jobs and contributing to Public Administration revenues with around €2.1 billion in terms of tax revenue. In addition, it is possible to estimate that Poste Italiane has directly and indirectly contributed to the distribution of income to workers for a total of € 7 billion. The creation of value by Poste Italiane is based on the contribution that the Group’s individuals make through their work and daily commitment. In 2022, each individual at Poste Italiane contributed to the creation of economic impacts for the territory equal to € 107 thousand of GDP, € 58 thousand of income for families, € 11.6 thousand of tax contributions and the employment of 1.5 people.
Matteo Del Fante, Poste Italiane Chief Executive Officer and General Manager commented 2022 results: “Poste Italiane reported solid results with a record high 2022 EBIT, more than doubling compared to 2017. All segments contributed to underlying operating profitability progression, confirming once again robust foundations for future growth.
Our transformation programme, based on 'Deliver22', our first Strategic Plan, has now been fully implemented with all key targets achieved.
We are evolving from a traditional logistics operator into an omnichannel distribution platform leveraging our strategic investments in technology and data driven capabilities. Our people have made and continue to make a significant difference. We have hired 26 thousand FTE, invested in training, upskilling and reskilling with value added per FTE up 25% since 2017.
In the past 5 years, we have faced several challenges, such as those presented during the Covid-19 pandemic, as well as a turbulent macro-environment.
These factors have had a significant impact on both the economy and our customers. Poste Italiane’s anti-fragile approach, as a response, has enabled the effective delivery of all commitments towards stakeholders.
It is with this in mind that we have carried out a comprehensive assessment to make 2022 a very visible baseline for the new strategic plan we will be presenting later this year.
We are aware of our role as a strategic pillar for Italy as an integral part of the country for over 160 years and we launched the Polis project to support the country and local communities. Polis will provide a new way to access a range of Public Administration services, enabling cross-selling opportunities as well as supporting our service-model transformation in the future. Looking ahead to 2023 we see supportive business trends more than offsetting cost inflation. We see our targets achievable under different market conditions and supported by the strong commercial progress registered year-to-date.
Based on our overperformance, we are increasing our dividend for 2022 and 2023, compared to our original targets, proposing a DPS of 65 cents on 2022 results, an increase of 10% compared to last year level, and we are setting an upgraded target DPS of 71 cents on 2023 results next year, up 9% on yearly basis”.
Sustainability at the heart of the Company’s strategy
Over recent years, Poste Italiane has embarked on an important sustainability path, with a view to turning market challenges into opportunities for the creation of shared value for the benefit of Italy's economic growth. The Company has drawn up an ESG (Environmental, Social, Governance) plan, including all the Company’s specific quantitative and qualitative sustainability goals. The ESG plan forms an integral part of the 2024 Sustain & Innovate (24SI) Business Plan and is based on eight pillars that coincide with the ESG aspects relevant to the Group:
- Integrity and Transparency,
- People Development,
- Diversity and Inclusion,
- Value for Local Communities,
- Customer Experience,
- Green Transition
- Sustainable Finance.
The multiple recognitions obtained, nationally and internationally, from the most prestigious rating agencies confirm the effectiveness and far-sightedness of the sustainable strategies undertaken by the Group in recent years.
In continuity with 2021, in 2022, Poste Italiane confirmed its presence in the Dow Jones Sustainability World Index, a prestigious sustainability index which incorporates the best companies in the world in terms of the sustainable management of their business, and within the more selective Europe segment.
In addition, the Group was not only reconfirmed as a leader in the fight against climate change by CDP (formerly the Carbon Disclosure Project), being placing for the third consecutive year in the “Leadership” bracket of the international rankings with an A- rating, but was also ranked by Sustainalytics as a top ESG performer from a panel of more than 15,000 companies
assessed globally, achieving an ESG Risk Rating of 12.7 (Low Risk).
These prestigious awards are followed by further confirmations in equally important indices, such as Bloomberg Gender-Equality Index (GEI), FTSE4GOOD, MIB ESG and Euronext Vigeo-Eiris World 120.
With regard to the latter, we are proud to report that the Company was again ranked first among out of 5,000 companies evaluated on the basis of sustainability performance. In addition to being included again this year in the 2023 edition of S&P Global’s Sustainability Yearbook, ranked in the Top 5% S&P Global ESG Score 2022, the Group also earned the “AA” rating from MSCI, for the significant progress it has made with regard to the social sphere, improving its corporate sustainability performance and leadership in the sector.
Our Corporate Governance
The Corporate Governance structure reflects the provisions under Italian Legislative Decree No. 58 of 24 February 1998 (TUF – Consolidated Law on Finance), where applicable, the Supervisory Provisions issued by the Bank of Italy applicable to Poste Italiane concerning business conducted through the BancoPosta Ring-Fenced Capital, the regulations applicable to electronic payment institutions for activities performed by Poste Italiane in execution of the agreements signed with PostePay – ring-fenced EMI, as well as the recommendations of the Corporate Governance Code (that came into effect on 1 January 2021, replacing the previous Corporate Governance Code issued by Borsa Italiana and applicable up until 31 December 2020).
Poste Italiane has adopted a traditional governance model, separating the roles of the Board of Directors and the Board of Statutory Auditors.
The Company’s accounts are audited by an independent auditing firm. Poste Italiane’s financial management is overseen by the Italian Court of Auditors (Law 259 of 21 March 1958); the relevant controls are conducted by a Magistrate appointed by the Court of Auditors, who attends meetings of the Board of Directors and the Board of Statutory Auditors.