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.
Listed on the Milan Stock Exchange since 2015, Poste Italiane’s free float accounts for approximately 35% of the shares in issue; around 65% of the shares are held by the Ministry of the Economy and Finance, with a 29.26% stake, and Cassa Depositi e Prestiti, with a 35% interest. Since April 2017, Maria Bianca Farina has been the Company’s Chairwoman and Matteo Del Fante its Chief Executive Officer and General Manager. Giuseppe Lasco was appointed Co-General Manager in May 2020.
From the date of listing on the stock exchange (27 October 2015) to 31 December 2021, Poste Italiane’s share price increased by 71% (while the FTSEMIB index increased by 20.8% in the same period), guaranteeing an overall return for shareholders (TSR) of +137% while the main Italian stock exchange index recorded an increase of 47%.
During 2021, Poste Italiane shares increased by 38.3% on the stock market, from €8.34 at the beginning of the year to €11.54 at the end of December. The stock reached an all-time high since it was listed at €12.675 in October 2021. Over the same period, the FTSEMIB increased 22.5%.
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 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 2021, the Poste Italiane Group generated impacts on the country in terms of Gross Domestic Product (GDP) totalling €12.5 billion, as well as supporting around a total 183 thousand jobs and contributing to Public Administration revenues with around €2 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 € 7.3 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 2021, each individual at Poste Italiane contributed to the creation of economic impacts for the territory equal to € 105 thousand of GDP, € 62 thousand of income for households, € 17 thousand of tax contributions and the employment of 1.5 people.
Commenting on the plan, march 23, 2022, Matteo Del Fante, Poste Italiane Chief Executive Officer and General Manager: “We are rolling out an anti-fragile strategy to successfully adapt to challenging times, overperforming our 2021 targets in terms of revenues, EBIT and net profit. Poste Italiane reported solid results increasing both versus 2020 and 2019. Furthermore, looking at the last 5 years, we have constantly overachieved strategic plan targets, with 2021 net profit almost doubled versus 2017.
The industrial transformation started with the “Deliver 2022” plan and continued with “24SI” has now shifted the company to the next level, building on the Group’s integrated omnichannel distribution platform.
Building on our parcel results, we are now diversifying our business to become a fully-fledged logistics operator, also through inorganic options such as the acquisition of Plurima, focused on the new fast growing hospital logistics niche market.
Our digitally enabled new channels and B2B2C networks support solid new revenues’ growth. We have reached a significant 20 million average daily interactions, mainly coming from our new channels, including the PuntoPoste network, highlighting the great value generation potential embedded in our customer-base going forward.
We recently launched new strategic initiatives, enabling us to revise upwards our 2022 targets. We have signed an agreement to acquire 100% of LIS to consolidate our growth in the proximity payment business and strengthen the acquiring and SME product offering, in line with the integrated omnichannel strategy at the heart of our Plan.
We have successfully proven to face and overcome stress scenarios and we are in a better shape than many to navigate the current situation.
With these remarkable results, we are proposing an increase of the dividend from €0.486 per share in the previous year to €0.59 per share this year, anticipating the dividend per share originally envisaged for 2022 and upgrading our generous dividend policy.
In May of this year, Poste Italiane will celebrate its 160th anniversary. Our unique heritage has always allowed us to address today's challenges and guide the future of our communities. We are a platform company, with a resilient and sustainable business for all stakeholders and we were, are and will be always present for communities across Italy.”
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.
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.