Tag: Poste Italiane

Poste Italiane signs air cargo deal with Italian employers

Posted by | Oct 5, 2007 | |

Poste Italiane has signed an agreement with the influential Italian employers’ association Confindustria with the objective of winning more air express business.

Under the deal, the postal operator has guaranteed that its airline subsidiary Mistral Air will provide cargo transportation “at particularly competitive rates” and in accordance with the different types of freight and customer wishes.

Mistral Air currently operates with three B737-300 Quick Change aircraft for main routes and two chartered BA 146-200 QT planes for smaller destinations. The airline, which transports shipments of Poste Italiane and its express unit SDA, aims to carry 8,750 tonnes this year.

Poste Italiane chairman Massimo Sarmi added that the deal confirmed the strategic role that the postal group could play in providing logistics services and to support the success of products “Made in Italy” at an international level.

Poste Italiane last year signed an agreement with UPS, under which the US express and parcels giant will transport the post office’s international shipments and use its domestic Italian network for local distribution.

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Poste Italiane Net Profit Up 18.1 Pct Y/Y H1 2007

Posted by | Sep 25, 2007 | |

Italian state-owned postal services company Poste Italiane closed the first six months of 2007 with a net profit of 448 mln euro (USD 630.8 mln), up 18.1 pct compared to the first half of 2006.

The operating profit marked an increase of 8.3 pct to 959 mln euro (USD 1.35 bln).

Poste Italiane generated a revenue of 9.5 bln euro (USD 13.376 bln), a rise of 8.6 pct. The revenue from traditional activities amounted to 2.8 bln euro (USD 3.9 bln), up 3.4 pct. The revenue from financial services went up 4.5 pct and the revenue from insurance services grew by 15.6 pct.

The number of current accounts of Italian bank BancoPosta, a unit of Poste Italiane, stood at 5.1 million in June 2007, up from 4.9 million in December 2006.

The number of pre-paid Postepay cards increased to 3.3 million in June 2007 from 2.8 million in December 2006. The number of debit cards issued rose to 5.9 million in June 2007 from 5.6 million at the end of 2006.

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Poste Italiane faces competition probe

Posted by | Aug 8, 2007 | |

Italian competition regulator Autorita Garante della Concorrenza e del Mercato (Antitrust) has opened an investigation into possible abuse of a dominant market position by the country’s leading postal services operator, Poste Italiane. The investigation relates to liberalised services and services that are due to be liberalised in the next six years, and covers supply contracts made by Poste Italiane between December 2000 and January 2007. These contracts are thought to have been weighted in the state-owned group’s favour, and to have contained clauses that restricted competition.

Poste Italiane CEO Massimo Sarmi said that he was confident about the outcome of the inquiry, which should be revealed before the end of May next year, because the company had ‘always respected market regulations, competition, and consumer rights’.

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Italian government to revamp publishing sector subsidies

Posted by | Aug 5, 2007 | |

The Italian government has given the preliminary go-ahead to a revamp of subsidies for publishing companies, including hikes in value added tax and less postal benefits, said the Corriere della Sera, citing government officials.

The revamp follows an Italy antitrust authority fact-finding study which recently found subsidies of nearly 500 mln eur for the sectors. Analysts had said they didn’t expect changes to the aid.

In its Saturday edition, the newspaper said Friday’s ministerial meeting approved an increase in VAT to 20 pct for some add-on products sold with publications, from the current 4 pct rate.

The increased VAT will not be applied to add-on books, DVDs and CDs, the newspaper said. The antitrust authority said DVDs and cassettes normally pay 20 pct tax when sold separately.

Another government change is for publishers to pay the full postal tariff on publications sent by post, instead of a reduced rate, with this change being introduced in 2011, it said.

The antitrust authority said these benefits amounted to 299 mln eur in 2006, against 303 mln in 2005, including 174 mln for profit-making companies.

In 2005, Arnoldo Mondadori Editore SpA received 18.9 mln eur, Il Sole 24 Ore SpA, which plans a bourse listing, 17.8 mln, RCS MediaGroup SpA 13.8 mln, and Editoriale L’Espresso SpA 4.7 mln.

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