In over 160 years of history, Poste Italiane has accompanied the country’s development: for decades our postal offices were the main physical network in the country. Over time, we have shifted from distributing our products exclusively through the post office network towards expanding the market for these products through our proprietary digital channel, selling third-party products through our own channels, and using third-party networks and diversified distribution partners as well.
Today, our business model is widely diversified and unique. Besides being a logistics and postal operator, we also offer financial, insurance, payments, telephone and energy services through a network characterised by strong integration between physical and digital channels: 12,755 post offices nationwide, a third-party network boasting 51,000 contact points and our increasingly important digital channels. In 2023, through all our channels we saw 23 million interactions per day.
For us, innovation and digitalisation are two central drivers of strategic process and value creation and enable us to guarantee our customers innovative technological solutions, also through the integration of our own products and services with those of third parties.
We are therefore truly one-of-a-kind in Italy in terms of size, recognition and capillarity, a fundamental element of the country's social, economic and productive landscape.
The value creation process
Our business model is presented below, characterised by the interactions between the main forms of capital used by Poste Italiane to create value, our governance, integrated strategy, business areas and outputs and outcomes for the Group and the country.
Today, our business model is widely diversified and unique. Besides being a logistics and postal operator, we also offer financial, insurance, payments, telephone and energy services through a network characterised by strong integration between physical and digital channels: 12,755 post offices nationwide, a third-party network boasting 51,000 contact points and our increasingly important digital channels. In 2023, through all our channels we saw 23 million interactions per day.
For us, innovation and digitalisation are two central drivers of strategic process and value creation and enable us to guarantee our customers innovative technological solutions, also through the integration of our own products and services with those of third parties.
We are therefore truly one-of-a-kind in Italy in terms of size, recognition and capillarity, a fundamental element of the country's social, economic and productive landscape.
The value creation process
Our business model is presented below, characterised by the interactions between the main forms of capital used by Poste Italiane to create value, our governance, integrated strategy, business areas and outputs and outcomes for the Group and the country.
KEY INPUTS
- share capital (owned, floating,)
- debt capital
- expense of the universal postal service
- postal savings and deposits
- insurance premiums
- properties, post offices, branches and ATMs
- logistics network
- hardware IT infrastructure
- IT software systems
- integrity and managerial skills
- corporate governance system
- intellectual property rights
- talent
- specialist and managerial skills
- experience
- integrity
- health and safety
- relations with entities and institutions
- union relations
- relations with other stakeholders
- renewable energy
- fossil energy
- materials
INCOME
Mail, Parcels and Distribution Services
- Universal postal service
- Delivery of mail and parcels
- Delivery of e-commerce products
- Electronic communications
Financial Services
- Collection and management of postal savings
- Asset Management
- Collection and payment service
- Placement and distribution of financial products
ECONOMIC VALUE
Payments and Mobile
- Payments service
- Mobile telephony
- Digital services for the public administration
- Digital services for the Group
- Energy offer
Insurance Services
- Protection of person, property and animals
- Funding protection
- Enterprise multi-risk
- Guaranteed savings and asset management
- Welfare
SUSTAINABLE FINANCE
INTEGRITY AND TRANSPARENCY
PEOPLE DEVELOPMENT
DIVERSITY AND INCLUSION
CREATING VALUE FOR THE COUNTRY
CUSTOMER EXPERIENCE
INNOVATION
GREEN TRANSITION
OUTCOME
OUTCOMES
- revenue
- assets
- EBIT
- territorial capillarity
- digitisation
- accessibility and availability of services
- reputation
- compliance
- innovation
- talent
- specialist and managerial skills
- experience
- integrity
- health and safety
- partnerships and collaborations
- collaborative business climate
- stakeholder engagement
- emissions
- waste
Impact generated by the Group
Through our leadership in logistics, financial, insurance and payment services, we play a key role in the creation of economic value both for stakeholders directly impacted by our business activities and for the country as a whole.
Our activities generate impacts on Gross Domestic Product (GDP), personal income, employment and contributions to the public sector. These impacts can be broken down into:
- Direct impacts: generated by the direct operations of Poste Italiane
- Indirect impacts: generated along the value chain as a result of Poste Italiane's spending on goods and services (€3.8 billion in 2023) from Italian suppliers
- Induced impacts: generated by consumer spending through the income of workers employed directly and indirectly by the Group.
The process of creating poste italiane's economic value
DIRECT IMPACTS
Poste Group
Contributions closely related to the Group's operations in the country
PURCHASES FROM SUPPLIERS IN ITALY
INDIRECT IMPACTS
Suppliers
Contributions generated by businesses thanks to the Group's spending on goods and services
CONSUMER SPENDING IN ITALY
INDUCED IMPACTS
Businesses
Contributions due to the consumer spending thanks to the income earned by the workers employed by the Group. This consists of:
- EMPLOYMENT INCOME
- CONTRIBUTIONS TO PA
- GDP
- EMPLOYMENT
In 2023, our Group generated impacts on the country in terms of GDP worth a total of €13.7 billion, as well as supporting a total of around 197,000 jobs and contributing around €2.7 billion in tax revenues to the public sector. Furthermore, it is possible to estimate that Poste Italiane contributed €7.3 billion directly and indirectly to the distribution of income to workers.
Poste Italiane's value creation is based on the contribution that the Group's individual people make through their daily work and commitment. Indeed, during 2023, each Poste Italiane employee contributed to the creation of economic impacts for the wider community amounting to €114,000 in terms of GDP, €61,000 of income for families, €22,000 of tax contributions and the employment of 1.6 people.
X3
one euro spent by Poste Italiane for the purchase of goods and services generates an economic value for the country system of €3 in terms of production value.
POSTE ITALIANE'S CONTRIBUTION TO GROSS DOMESTIC PRODUCT - 2023
| GDP | €mln |
|---|---|
| Direct GDP | 8,891 |
| Indirect and induced GDP | 4,813 |
| Total GDP | 13,704 |
Each person at Poste Italiane, through their daily work and committment, has contributed to the generation of €114 thousand in GDP in 2023
POSTE ITALIANE'S CONTRIBUTION TO EMPLOYMENT INCOME - 2023
| Employment income | €mln |
|---|---|
| Direct employment income | 5,170 |
| Indirect and induced employment income | 2,142 |
| Total employment income | 7,312 |
Each person at Poste Italiane, through their dally work and commitment, has contributed to the distribution of 661thousand to familles during 2023
POSTE ITALIANE'S CONTRIBUTION TO THE PUBLIC ADMINISTRATION - 2023
| Contribuition to PA | €mln |
|---|---|
| Direct contribuition to PA | 1,149 |
| Indirect and induced contribuition to PA | 1,507 |
| Total contribuition to PA | 2,656 |
Each porson at Poste Italiane, through their daily work and commitment, has contributed to the generation of a tax revenue of €22 thousand during 2023
POSTE ITALIANE'S CONTRIBUTION TO EMPLOYMENT - 2023
| Employment | €mln |
|---|---|
| Direct employment | 120,155 |
| Indirect and induced employment | 77,118 |
| Total employment | 197,273 |
Each porson at Poste Italiane, through their daily work and commitment, has contributed to the employment of 1.6 people in 2023
Creating value for shareholders and employees
Our activities allow us to create value for our shareholders through dividends investing in Poste Italiane means investing in the largest service distribution network in Italy.For our employees, we create value not only through employment, but also through our many initiatives to develop human capital
2023 highlights:
- Poste Italiane is Top employer for the 5th year running
- 2023 performance bonus up by 4% compared with 2022
- Strengthening of the corporate welfare platform, which has 28,000 members
- 6.5 million hours of training delivered
- Enhancement of coaching activities and evolution of the Mentoring programme