Italian Post Office unveils 3-year targets

The board of directors of the Italian post office, Poste Italiane, has been presented with the organization’s development plan for 2006-2008. Its targets include a 3.5 per cent rise in consolidated turnover, to 10.38bn, 10 per cent growth in Ebit, to 1.2bn euros, and an Ebitda up 5 per cent, at 2.2bn euros, over the three-year period. More generally, Poste Italiane is aiming to develop its financial services to the point where its BancoPosta subsidiary becomes Italy’s biggest ‘bank’ by customer numbers and to increase its share of Italy’s express parcel service market. While unveiling the three-year plan yesterday, Poste Italiane’s managing director, Massimo Sarmi, said that the Bank of Italy has ordered his organization to keep separate accounts for its BancoPosta business, on the one hand, and its postal services, on the other. He also pointed out that Poste Italiane has only a 1.4 per cent share of Italy’s 30.2bn-euro market for parcel services, compared with 18.2 per cent for Deutsche Post World Net and 12.2 per cent for TNT.