Tag: Italy

Italian trade unions have warned that the 2006-2008 industrial plan of state-owned postal services company Poste Italiane places at risk 9,000 workers, local financial daily Il Sole 24 Ore reported on November 3, 2005. The reorganisation of the delivery service places at risk some 6,000 postmen and another 3,000 jobs may be cut following closures of dispatch centres, according to the article in the newspaper. Future problems with overstaff will be solved by the company’s internal restructuring programme, Poste Italiane CEO Massimo Sarmi said.

Italy’s state-owned postal services company Poste Italiane ended the first half of 2005 with a consolidated revenue of 4.8 bln euro (USD5.737 bln), up 6.5 pct year-on-year, the company said on October 3, 2005. Consolidated operating profit stood at 412 mln euro (USD492.5 mln) and earnings before interest, tax, depreciation and amortisation (EBITDA) increased 18.3 pct. The company’s investments amounted to over 200 mln euro (USD239.1 mln). Poste Italiane expects to post a turnover of 9.0 bln euro (USD10.758 bln) for 2005.

The chief executive of Italian postal operator Poste Italiane, Massimo Sarmi, said yesterday that the group could also exceed its 2005 targets. Poste’s half-year results, to be released on October 3, indicate a growth trend, he said. Mr Sarmi confirmed the group’s target of annual revenue growth of 3.5 per cent in 2006-2008, accompanied by 5 per cent annual growth in EBITDA and 10 per cent in operating profit. The group also announced a five-year contract to provide correspondence managemet to Italy’s financial police force.