In 2018, the Group’s activities involving the production and delivery of goods and services generated direct, indirect and induced impacts on the Italian economy amounting to approximately €12 billion in terms of GDP, employed a total of approximately 184 thousand workers and resulted in the distribution of income amounting to approximately €8 billion to workers.
Listed on the Milan Stock Exchange since 2015, Poste Italiane’s leading shareholders include 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.
The Poste Italiane Group constitutes the largest service distribution network in Italy. Its activities range from letter and parcel delivery to financial and insurance services, payment systems and mobile telecommunications.
The ability to create value
In the first year in which the 2022 Plan was fully implemented, Poste Italiane achieved all its financial targets at both Group level and across all areas of business, delivering an improvement in operating profit. The results for 2018 confirmed the Group’s ability to generate earnings, provide quality services to our customers and, at the same time, create value for our shareholders and employees.
The results achieved enabled poste Italiane to confirm the dividend policy set out in the Deliver 2022 Plan, which has targeted an annual 5% increase through to 2020 and a minimum 60% payout from 2021. The Annual General Meeting of shareholders approved payment of a dividend of €0.441 per share for 2018.
Sustainability at the heart of the Company’s strategy
In 2018, Poste Italiane devised a new Sustainability Strategy that, by bringing financial and operating objectives together within a clear vision of environmental, social and governance issues, aims to deliver sustainable performance over time, reduce the risk profile and act in line with the principles of integrity and transparency.
To implement our sustainability policies, the Company has drawn up an ESG (Environmental, Social and Governance) Strategic Plan, setting out sustainability goals in keeping with the business strategies set out in the “Deliver 2022” plan and with our concrete commitment to deliver on a series of quantitative and qualitative targets within established time-scales.
The objectives regard six key areas: integrity and transparency, people development, support for local communities and the country, customer experience, the decarbonisation of real estate and logistics and sustainable finance.
These objectives form the pillars on which the Plan is based and have been set on the basis of both national and international social and environmental development targets, corresponding with the United Nations Sustainable Development Goals, and the contribution that Poste Italiane can make to their achievement.
The process of integrating ESG principles
The process of integrating the ESG principles within the Group’s organisation regarded a series of business processes and had led us to strengthen or introduce new ESG procedures within the various areas of the Group.
Among the initiatives adopted, Poste Italiane has signed up to the United Nations Principles for Responsible Investments (PRI) and the Principles for Sustainable Insurance (PSI), which aim to drive the adoption of sustainable investment and insurance policies.
In this way, the Company has begun an organic process that aims to integrate ESG principles at all levels: in its strategy, governance and business processes.
We have also initiated the process of introducing ESG principles into our stakeholder relations, with particular regard to suppliers, as part of efforts to promote sustainable management of the Group’s entire supply chain.
We have also boosted our Anti-corruption System, becoming the first Italian company in the financial and communications sector to obtain ISO 37000:2016 certification.
Environmental sustainability policies
Poste Italiane’s environmental sustainability policies aim to reduce the impact of our activities, above all in relation to the use of real estate and transport and logistics.
The Company has for some time adopted energy saving initiatives in its buildings, with a positive impact on the habits of employees in terms of energy and water use and their approach to waste. 96% of the electricity used by Poste Italiane is also generated from renewable sources, as certified under the GO (Guarantee of Origin) scheme, with a small proportion produced from the Company’s own photovoltaic plants.
Poste Italiane is the country’s largest employer. Over the duration of the Deliver 2022 Strategic Plan, the Company expects to provide over 20 million hours of staff training. The Company has also launched programmes for talented young staff within the Group, made use of mentoring and coaching to support personnel development and adopted flexible and remote forms of working with the aim of improving the work-life balance.
Poste Italiane is also committed to promoting equal opportunities and boosting the number of women in management positions: 44% of the members of the Board of Directors are women, whilst 45% of the Company’s middle and senior managers are women (figures for 2018).
This situation has been made possible in part by the implementation of a number of welfare initiatives, such as the provision of crèches, the introduction of flexible forms of working and the launch of innovative training initiatives, such as Maam U, which has transformed the birth of a child into an opportunity to develop skills that are useful during both motherhood and at work. Maternity pay at Poste Italiane is also higher than required by law, both during the initial period of leave and during the first six months of the child’s life.
Also in line with the Company's objective of ensuring a work-life balance, Poste Italiane has set up its own national football team, aimed in to use sport as a means to creating a sense of unity and belonging among employees.
The plan is to extend this initiative to other forms of sport.
Our Corporate Governance
Poste Italiane’s shares are listed on the Mercato Telematico Azionario (the MTA, an electronic stock exchange) organised and managed by Borsa Italiana SpA. The Company is controlled by the Ministry of the Economy and Finance (MEF), which holds 64.26% of the share capital, including a direct 29.26% interest and an indirect 35% interest through Cassa depositi e prestiti SpA (CDP), itself controlled by the MEF. (at 31 December 2018)
The corporate governance structure reflects the recommendations in the Corporate Governance Code for listed companies published by Borsa Italiana, the provisions of Legislative Decree 58 of 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 (Patrimonio destinato BancoPosta), and 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.
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.