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With its 158-year history, a network of more than 12,800 post offices, a workforce of approximately 130 thousand, total financial assets of €536 billion and 35 million customers, Poste Italiane is an integral part of Italy’s economic, social and productive fabric, occupying an unparalleled position in the country in terms of size, recognisability, reach and customer loyalty.

Listed on the Milan Stock Exchange since 2015, Poste Italiane’s free float accounts for approximately 35% of its share capital, of which around 10% is held by retail shareholders, with the remainder held by some of the world’s most important institutional funds. In addition, 65% of the Company's shares are held by the Ministry of the Economy, with a 29.26% stake, and Cassa Depositi e Prestiti, with a 35% interest.

Poste Italiane is now the largest logistics operator in Italy, and is a leading player in the financial, insurance and payment services sector. 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.

With a turnover of over €11 billion, the Group’s activities generate significant impacts on the country in terms of Gross Domestic Product, tax revenues, employment and household income. These impacts are the effect of the involvement of many local companies - many of them small and medium-sized - in the supply chain and investment activities in Italian companies and government bonds. Supporting both public and private actors, Poste Italiane contributes to the development of the entire national economy.


The capacity to generate value 
the Deliver 2022 strategic plan has the aim of maximizing the value of the largest distribution network in Italy, responding to the ever-changing needs of customers and seizing new business opportunities towards digitisation. The Plan will make it possible to fully capitalise on the strengths that make Poste Italiane’s network which consists of more than 12,800 Post Offices.

The driving force behind this value-creation process over time is a business model which, by making the most of all the capitals on which the Company is based, allows achieving the objectives that the Group has set for each operating sector in an integrated Strategic Plan with ESG objectives. Thanks to a sustainable business model, it becomes possible to face the new challenges offered by increasingly changing and competitive scenarios not only by reacting to risks, but by seizing all opportunities without ignoring their social implications.

Poste Italiane has proven to be capable of transforming its operating structures and its products and services, through continuous investments in technology and know-how, transforming market challenges into opportunities for the creation of shared value.
the strategy is based on different types of capital in which Poste Italiane invests and which are an integral part of its business model: financial, physical-structural, intellectual, human, social-relational and natural. The use of this capital allows Poste Italiane to offer products and services on the market and create economic, environmental and social impacts.

The correct management of capital also from an ESG perspective is part of our vision of a “sustainable company” and the path taken over the last three years is made up of many stages representative of this vision that have involved strategy, governance and reporting systems and have led to important evolutionary transformations that in a short time, have led the Company to achieve many goals in 2019.

The effort that Poste Italiane has made to achieve a structured sustainability path that is fully consistent with its business objectives has led the Group to achieve major awards during the year. First in order of time, was the entry in the Dow Jones Sustainability Index, the most prestigious sustainability index that includes only the companies considered the best in the world in the sustainable management of their business. Being admitted both in the “World” segment and in the more restrictive “Europe” segment is an additional reason of pride for the Group. This was followed by other entries in equally important indexes: Bloomberg Gender-Equality Index (GEI), Euronext Vigeo-Eiris World 120, FTSE4GOOD and the RobecoSAM Sustainability Yearbook 2020 as “Industry Mover”.
 
Mail, parcels and distribution
These activities, which include mail delivery, logistics, parcels and express delivery, have always been a key part of Poste Italiane’s identity and also include Italy’s Universal Postal Service. We provide these services via a unique network, consisting of 27 thousand postmen and women and 1,543 distribution centres. In 2019, we handled approximately 2.7 billion items of mail and 148 million parcels, putting Poste Italiane in a particularly strong position to benefit from the opportunities linked to the growth in ecommerce, thanks also to our extensive payments and digital expertise.

Payments, Mobile and Digital
Poste Italiane is one of Italy’s leading payment system providers, exploiting the Group’s integrated multichannel distribution platform based on its physical post office network and latest-generation digital infrastructure. At 31 December 2019, Poste Italiane had 4 issued 28.7 payment cards, with the number of Postepay Evolution cards in circulation up 15% compared with 2018 to 7.2 million.

In 2019, 20.8 million customers were registered with digital channels (the website and Apps), whilst the number of Poste IDs created had reached 4.1 million at 31 December 2019 and Poste Italiane’s Apps were downloaded more than 30.8 million times. 2 million people now visit the website or use our Apps each day.
 
Financial and insurance products
Poste Italiane plays a leading role in the distribution of savings and loan products, thanks to our distribution network and the brand’s long-standing reputation for dependability. We are the sole distributor on behalf of Cassa Depositi e Prestiti of postal savings products – Savings Books and Interest-bearing Postal Certificates – and offer our customers current account services, as well as asset management, insurance and third-party consumer credit products.

Insurance services are provided by the Poste Vita group, which offers customers a range of solutions designed to meet demand for supplementary pensions, personal and property protection and asset management. The group is the leading Italian life insurance provider, generating revenue of €1.669 billion in 2019, a 13.5% increase on 2018, and having technical provisions in excess of €140 billion. In the life insurance segment, Poste Italiane has focused on diversification, encouraging the transition from capital protection to multiclass products, which now account for 35% of new policies written. Moreover, during the year the Company stepped up development of P&C products, which registered revenue of €158 million in 2019, marking an increase of 17.4%, in line with the process of diversifying the Group's insurance offering envisaged in the Deliver 2022 plan. At 31 December 2019, the Poste Vita group’s solvency (Solvency II) ratio was 276%.
 
Poste Italiane's ESG Plan
Over the last three years, Poste Italiane has embarked on an important sustainability path, with a view to promoting the distinctive elements of its corporate strategy and turning market challenges into opportunities for the creation of shared value for the benefit of Italy's economic growth. The Company has set out its sustainability objectives in an ESG (Environmental, Social, Governance) plan, which is included in the Deliver 2022 Strategic Plan. We have also undertaken specific actions, such as joining the United Nations Global Compact (UNCG), with the aim of promoting a corporate culture geared towards sustainability along the entire value chain.
 
Innovation and digitalisation
For Poste Italiane, innovation and digitalisation are core drivers of change and vital tools for accompanying our customers through the digital transformation journey. As part of this process, the Company is committed to adopting a highly inclusive approach, aimed at facilitating access to new technological tools for all our customers.
 
Diversity and inclusion
With women accounting for more than half of its workforce (69,000, or 55% of the workforce), Poste Italiane has a key role in supporting equal opportunities throughout the Italian economy. 59% of post offices are managed by a woman, and women make up 44% of the members of the Company's Board of Directors, as well as holding 34% of leadership positions and 22% of executive roles.

Among cross-cutting initiatives, as part of our welfare and social inclusion policies, Poste Italiane has established the People Care and Diversity Management function within the Human Resources and Organisation department, with the aim of identifying and resolving the issues that prevent people with any type of diversity or disability from accessing employment, whilst improving work placement processes and enhancing skills.
 
Integrity and transparency
Ethics and transparency represent the key values around which Poste Italiane has built its identity. These basic principles form the basis for the way we conduct our business which, by its nature, depends on creating trust and on the responsible management of relations with all our stakeholders. The Company therefore recognises the strategic importance of compliance with internal and external regulations and codes of conduct, as well as respect for rules and absolute fairness, avoiding conflicts between corporate and personal interests. The Company confirmed its "legality rating" in 2019, with Poste Italiane being once again awarded the highest three-star rating by Italy’s Antitrust Authority, putting us among the 6% of companies that have achieved this level of performance.

Our Corporate Governance
Poste Italiane has issued shares listed on the Mercato Telematico Azionario (the MTA, an electronic stock exchange) organised and managed by Borsa Italiana SpA as of 27 October 2015. At 31 December 2019, the Company is 29.3% 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.

The Corporate Governance structure reflects the provisions of Legislative Decree no. 58, 24 February 1998 (the Consolidated Law on Finance), where applicable, the Supervisory Standards issued by the Bank of Italy and applicable to Poste Italiane in view of the unbundled activities conducted by BancoPosta RFC (BancoPosta RFC), the legislation applicable to electronic money institutions as regards the activities carried out by Poste Italiane in implementation of the agreements entered into with PostePay – the ring-fenced EMI, and the recommendations of the Corporate Governance Code for listed companies endorsed by Borsa Italiana in force as of 31 December 2019.

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 firm of auditors.

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.
 

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© Poste Italiane 2020 - VAT registration number: 01114601006

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