Poste Italiane suffers less than expected in Q1

Thanks in part down to the particularly hard pandemic crisis in the country, Poste Italiane saw first quarter (Q1) revenues drop by 3% to €2.755 billion compared to the same period in 2019.

Parcel revenues at Poste Italiane grew significantly with volumes similar to those of Black Friday and the Christmas period. Imports through its network from China doubled as against the norm.

Matteo Del Fante, CEO and General Manager of Poste Italiane, commented: “In extraordinary periods like this, my thoughts go to the communities and people affected by COVID-19. Thanks to the commitment and sense of duty shown by our employees, Poste Italiane quickly adjusted its operations, to guarantee essential services to our customers and provide the widest support to the country, in line with its role as a strategic backbone for Italy.

“Although the performance of 2020 was impacted by the lockdown, recent events have accelerated key emerging trends and confirmed the strategic direction of the Deliver 2022 Plan. Poste Italiane has faced the crisis with a robust financial profile, with a solid balance sheet and strong capacity to generate liquidity thanks to our profitable business.

“During this unprecedented situation, we protected our employees, sanitised corporate buildings and fleets, provided personal protective equipment and reduced physical presence in post offices, sorting and distribution centers. Agile work has been activated for most of the headquarters staff, reaping the benefits of our past IT investments.

“Our loyal customers continued to benefit from uninterrupted services. We have taken important measures to protect them, taking advantage of our exclusive multichannel distribution model, consisting of post offices, third party networks and our digital platform.â€In this way, we continue to involve customers in different but complementary ways in all the segments in which we operate. We have supported our communities, also with dedicated social initiatives, by collaborating with institutions. Throughout its history, Poste Italiane has always been present for its customers and for the community. During this crisis, we continued to support all our stakeholders, strengthening our reputation. Poste is a system operator; our role has become more important and this will translate into a stronger and more sustainable business. Together, we will be up to the challenge.”