La Poste Chairman: Some of our subsidiaries’ operations have encountered significant difficulties

La Poste Chairman: Some of our subsidiaries’ operations have encountered significant difficulties

Last week the Board of Directors of La Poste approved the group’s consolidated financial statements for the year 2023.

La Poste, a mission-led company, also presented its non-financial performance. Philippe Wahl, Chairman, said: “Today we are presenting our non-financial performance indicators for the first time. Our CSR leadership is a strong marker of our commitment to society, and our development in this area must be both profitable and responsible. Our group was a pioneer in reducing the carbon emissions of its operations, and is now aiming for “net zero emissions” by 2040, ten years ahead of the targets set in the Paris Agreement.”

Philippe Wahl went on to say: “In 2023, La Poste Groupe’s businesses faced a particularly difficult economic climate, having to cope with a number of shocks: high inflation, high interest rates weighing on our banking business, and a slowdown in consumer spending, which put the brakes on the boom in e-commerce and therefore on growth in the volume of parcels shipped,
particularly internationally. Some of our subsidiaries’ operations have encountered significant difficulties, and we have demonstrated our collective ability to tackle these with
realism and determination, by identifying the problems, dealing with them, and solving them.

La Poste Groupe managed to limit the impact of this adverse environment on its financial results, with revenue coming in at €34.1 billion and net profit totalling €514 million. This
resilience of our activity and financial performance testifies to the solidity of La Poste’s strategic model. This strategic model has undergone a transformation as mail now only
accounts for 16% of our revenue. These results are the outcome of the dedicated work and achievements of all of our people, which is why every La Poste Groupe employee will be
receiving a profit-sharing bonus.

In 2023, parcels represented 53% of the group’s revenue, with a mixed picture across our operating countries. Volumes continued to increase for Colissimo in France and for
Geopost in Italy, France, Spain and Ireland. In financial services, thanks to its diversification into insurance, La Banque Postale saw an increase in its results. In local services (meal
delivery, Log’issimo, energy performance certificates), diversification continued, with revenue topping €800 million. And in digital services, Docaposte’s revenue amounted to
€955 million.

La Poste Groupe also strengthened its historic business activities and public service missions with the signature of the new 2023-2027 public service agreement with the French State, and the sixth regional postal coverage agreement signed with the Association of French Mayors and the State.

Backed by its shareholders – Caisse des Dépôts and the French State – La Poste Groupe is continuing to grow and change, so that it can make a positive impact on the transformational shifts currently taking place in society, with a view to supporting millions of customers, offering ever-more services, and being ever-more useful to everyone, everywhere.”

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