Announced at the end of February 2018, the Deliver 2022 strategic plan will enable us to fully capitalise on the unique strengths of the Poste Italiane network. Our distribution platform is the largest and most widespread in Italy, with 12,800 post offices located across the entire nation. What’s more, we are widely recognised as the safest and most reliable distribution service provider in the country.
The plan sets out:
The plan sets out:
- financial targets based on realistic assumptions, with a low execution risk;
- a company transformation programme;
- an overriding focus on evolution in customer needs;
- sustainable growth in dividends, in line with Group’s improving operational performance.
FINANCIAL TARGETS
- Forecast 2022 consolidated revenues: €11.2 billion, with a compound annual growth rate (CAGR) of 1%;
- Forecast 2022 operating profit: €1.8 billion, with a CAGR of 10%;
- Forecast 2022 net profit: €1.2 billion, with a CAGR of 13%;
- 2022 Return On Equity (ROE): 13% (+3.4 p.p.);
- Customer’s Total Financial Assets: €581 billion (2017: €506 billion)
- 2018–2022 capital investments: €2.8 billion of capex to support the digitalisation, automation and reorganisation of the service model;
- Net financial position of the Mail, Parcel and Distribution business: €1.7 billion (€0.8 billion in 2017);
- dividend policy : 2017 baseline of €0.42 per share, increasing by 5% per annum up to 2020, with a minimum payout of 60% from 2021 onwards.
KEY CONSOLIDATED FINANCIAL TARGETS
€ bn unless otherwise stated2017 | 2018 | 2020 | 2022 | CAGR 17 - 22 | |
---|---|---|---|---|---|
Revenue | 10.6 | 10.7 | 10.9 | 11.2 | + 1% |
EBIT EBIT Margin % |
1.1 11% |
1.4 13% |
1.6 15% |
1.8 16% |
+ 10% |
Net Profit ROE %* |
0.7 10% |
1.0 13% |
1.1 13% |
1.2 13% |
+ 13% |
18-20 | 21-22 | ||||
Dividend (€/share) | 0.42 | + 5% Per Annum | Minimum Payout 60% |
*Group Equity net of fair value and cash flow hedge reserves and including goodwill on investments.
- Shareholders: clear growth in dividends.
- Poste Italiane people: cooperation with trade unions to encourage workforce renewal.
- Customers: an operating model able to meet the changing needs of Italians.
- The Country: support the digital transformation in Italy, offering digital solutions through the widespread reach of the distribution network and services.
Transformation of our Business Areas
To roll-out our strategic vision, we have completed the reorganisation of our operating divisions. Each business area has specific targets, and the gradual progress made will combine to form a great leap forward for Poste Italiane.
The new Payments, Mobile & Digital segment has been established thanks to the combination of PosteMobile and the Payments business. Asset management shifts to Financial Services and Mail, Parcel is now called Mail, Parcel & Distribution.
The new Payments, Mobile & Digital segment has been established thanks to the combination of PosteMobile and the Payments business. Asset management shifts to Financial Services and Mail, Parcel is now called Mail, Parcel & Distribution.

Learn more about the market environment of the business area.
- Revenues: €3.5 billion (2017: €3.6 billion), with growth in Parcel revenues and a slowdown in the decline in Mail revenues.
- Parcel revenues: €1.2 billion (2017: €0.7 billion).
- EBIT: the division will approach its operating breakeven point (€-0.1 billion)
- Implementation of the new delivery model.
- Parcels delivered by delivery personnel: over 100 million (2017: 35 million).
- B2C parcel market share: 40% (2017: 30%).

Learn more about the competitive and regulatory framework of the business area.
- Revenues: €0.8 billion (2017: €0.6 billion).
- Payment Card revenues: €0.4 billion (2017: €0.2 billion).
- EBITDA: €0.2 billion (2017: €0.2 billion), with a CAGR of 1%.
- Postepay total portfolio to reach 18.3 million cards issued.
- Card transactions to rise by 12% CAGR to €1.6 billion.

Learn more about the sector.
- Revenues: €4.9 billion (2017: €5.0 billion), maintaining stable revenue while reducing the reliance on capital gains (to fall from over €0.5 billion in 2017 to zero in 2022).
- EBIT: €0.7 billion (2017: €0.6 billion).
- Total financial assets: to rise to €581 billion from €506 billion in 2017, in line with market growth, with improved penetration of life insurance products and mutual funds.
- Over 12 million products (2017: 8 million).
- Customers covered by a relationship manager: 45–55% (2017: 7%).

Learn more about the market environment of the business area.
- Revenues: €1.9 billion (2017: €1.5 billion), led by constant growth in the segment.
- EBIT: €0.9 billion (2017: €0.8 billion).
- Net profit: CAGR of 4% over the period 2017–2022.
- Gross written premiums: €20.7 billion (2017: €20.3 billion).
- Casualty policy distribution: over 2 million new contracts per annum (2017: €0.4 million), driven by a smart distribution model to complete the range of insurance products offered.
Our People
Poste Italiane is the biggest employer in Italy. Over 53% of our current workforce (138,000 headcount in 2017) will retire over the next ten years, which will enable the recruitment of new skilled professionals and young talent.
- Forecast headcount in 2022: 123,000 employees
- Training: 20 million hours planned over the plan horizon
- Redeployment of personnel: 4,500 employees to be redeployed to the commercial frontline
- New hires: 10,000 skilled workers, including 5,000 finance and insurance specialists.