Le Groupe La Poste reports H1 2016 results
Le Groupe La Poste has reported a “moderate” 2.2% increase in revenue for the first half (Q1) of 2016. Operating revenue for the six-month period was €11,770m.
Operating profit was €852m, up 38.3% and 11.2% excluding one-offs.
In a statement issued today (28 July), the group said that the commercial performance “varied from business to business”.
According to Le Groupe La Poste: “The Services-Mail-Parcels business unit has delivered stable growth despite declining mail volumes.
“GeoPost has taken full advantage of the e-commerce boom and innovative last mile solutions rolled out.
“La Banque Postale has been impacted by an environment with historically low interest rates.
“The Digital Services business unit is developing in the growing digital transformation market. Close attention to cost control in each business unit thanks to the commitment of all employees contributed to improving operating profit, which nevertheless includes one-offs.”
“The first half of the year was characterised by several major projects coming to fruition: the written driver’s license exam being administered in postal sites, launching evening parcel delivery in cities with more than 50,000 people, getting a foothold in the Silver economy market via the creation of La Poste Silver, positioning the Group in the fresh products delivery market with the roll-out of Chronofresh in France, and consolidating the Group and business units’ headquarters with the goal of developing synergies between business units and reducing costs.”
Going into more details on the financial for the post and parcel businesses, the company statement added: “Revenue for the Services-Mail-Parcels business unit was almost stable, with varying trends among the different businesses.
“The Services-Mail business recorded a small decline in revenue (-0.6% at €4,956m), affected by a decrease in addressed mail volumes (-5.3%) which was partially offset by a favourable working-day effect (+1.9%), a price increase which took effect on 1 January 2016 (+3.8% on average) and growth in international revenue.”
The group also reported that new services “grew significantly”, up 43.4% to €19.5m.
“Subsidiaries positioned in the logistics market (Viapost Services) and the unaddressed advertising mail delivery market (Mediapost), recorded a 3.4% increase in revenue, to €264m,” added Le Groupe La Post.
“Revenue for the Parcels business rose 2.7% to €791m, driven by a volume effect (+6.2%13), which was partially mitigated by changes in price and customer mix (increase in BtoC and key accounts).”