La Poste withstood its first decline in parcel deliveries in 2022, with net profit up 11%. However, the group anticipates a “more difficult” year 2023 and wants to grow in digital and local services. “The year 2022 was characterized by a very difficult economic environment with the slowdown in growth, the war in Ukraine, the increase in energy prices and general inflation”, detailed the CEO, Philippe Wahl, during of the presentation of the results for the past year, Thursday 23 February.
However, “we are seeing strong resistance in the group’s activity and results,” he said. Turnover increased by 2.3% compared to 2021 to 35.4 billion euros, as did net income (11%).
Fall of traditional mail
For the first time, parcel transport marked time in 2022, with 2.6 billion parcels distributed (–3% over one year) after an exceptional year in 2021. In France, Colissimo volumes are down sharply, by 10%, and even Geopost (express parcels, including Chronopost in France) shows a 1% drop in volumes due to the sluggish market in Germany and the United Kingdom. United.
The subsidiary’s turnover has nevertheless increased, approaching 15.6 billion euros (6%) thanks to price increases. The parcel business now represents more than half of La Poste’s turnover, while traditional mail continues to fall, with a decline of 8% in 2022.
La Banque Postale, the group’s banking subsidiary, reported a 66% increase in its net profit, to 1.06 billion euros, in particular thanks to the 100% integration of CNP Insurance.
As a result of these positive results, “the incentive will be the highest ever granted”, announced Philippe Wahl. It will amount to 958 euros per employee, compared to 592 euros last year. The La Poste group employs 238,000 people, including 184,000 in France.
Medicines and meals
If 2023 promises to be a complicated year, according to Mr. Wahl, he insisted on two vectors of growth: digital, “which will experience an acceleration in its uses”, and new local services.
Digital represents 900 million euros in turnover and covers digital safe and cloud activities. In December 2022, Mr. Wahl revealed his ambition to increase the turnover of this activity to “several billions in the years to come”.
The personal services sector weighs for its part 700 million euros in turnover. With the progressive aging of the population and what Mr. Wahl calls “the housing shift in old age policy”, there is “considerable ground” to be conquered. La Poste is “progressing in the delivery of medicines” and is already “leader in the delivery of meals”, he welcomed. “We delivered 3 million meals last year to an addressable market of 40 million,” he insisted.
La Poste already offers personal assistance or home visit services such as the “Watch over my parents” activity, which will therefore be developed.