Poste Italiane responds to the harsh phase of the pandemic by accelerating growth. The group led by Matteo Del Fante has approved the new 2021-2024 industrial plan in which it revises the dividend policy upwards and increases the commitment to investments, which in the four years will amount to 3.1 billion, favoring sustainability and innovation. The group’s goal is to achieve net zero C02 emissions by 2030. Among the novelties, the group’s debut in energy: there will be an offer of energy services using fintech.
Coupon up 6 percent per year
The coupon will continue to grow over the period by 6 per cent per year (against the 5% envisaged by the previous plan). The largest increase is expected for this year: the dividend per share will be guaranteed and equal to 0.55 euros, up 14 percent compared to 2019 (the payout remains at 60 percent).
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Parcels, by 2025 will account for 50% of the revenues from correspondence
Among the important goals that the company aims to achieve is that of riding the wave of growth in the parcel market marked last year, with the record figure of 210 million pieces delivered in 12 months (with peaks of over 1 million per day). By 2025, more than 50% of the revenues of the correspondence and parcels sector will have to be generated by the latter business, against a share of 20% in 2017. To give a concrete example: today these revenues total 3.2 billion. . In 2024, the share of parcels is expected to rise from 1.12 billion in 2020 to 1.8 billion, against total revenues from the correspondence sector that rise from 3.2 to 3.9 billion. The segment’s operating result will remain stable or slightly down (0.7 billion) due to higher costs to support development.
Net profit and margins up 6%
The targets for 2024 envisage the group’s total revenues to increase by 3 per cent in the period, and equal to 12.7 billion at the end of the plan. The operating result is set to rise by 5 per cent, to 2.2 billion. Net profit will increase by 6% to reach 1.6 billion. Total financial assets will amount to 615 billion (569 billion in 2020). In the financial services sector, revenues will rise to 5.9 billion in 2024. Among the novelties, in wealth management the focus on ESG sustainability criteria will be increased. In the insurance sector, revenues are destined to rise from 1.64 to 2.7 billion, with premium income in the Life business which will rise from 16.7 to 26.5 billion.
In the payments sector, the sale of energy is taking place
Another rapidly expanding sector is that of digital payments and mobile telephony. Here the group foreshadows expansion into a new business, that of energy. Reference is made to a new offer of energy services, leveraging an energy-fintech approach. Revenues will rise from 0.74 to 1.6 billion. The portfolio of cards issued is expected to rise to 29.6 million (10.7 million digital e-wallets). During the period, staff redundancy incentives of 100 million are also envisaged at group level.