La Poste reports H1 results with revenue increases |

La Poste

Over the first half of 2020, La Poste saw operating revenue increased by 13.3% to €14.5bn, compared to H1 2019. Service-Mail-Parcels operating revenue fell by 10.0%, GeoPost saw revenues rise to €5.1bn, up 35.6% on H1 2019. La Banque Postale revenues also grew by 33.1% and Digital Services rose by 8.9% whilst Other Segments’ revenue fell by 4.4%.

GeoPost’s operating revenue rose sharply to €5,057m (up 35.6%). At the end of June, GeoPost had delivered 850m parcels compared to the same period of the previous year, driven by the unexpected boom in e-commerce which began in April in countries affected by the Covid-19 health crisis, and the ensuing surge in the B2C segment (53.4% of volumes at the end of June 2020 vs 43.2% at the end of June 2019). Most countries delivered higher operating revenue (up 23.2% in the United Kingdom, up 7.8% in Germany, up 10.8% in Spain, up 35.8% in Benelux and up 26.0% in Russia). Operating revenue from New Urban Services saw organic growth of 9.1% (€2m), primarily driven by the activity of Stuart.

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Operating revenue also rose from €572m in 2019 to €2.6bn in 2020. GeoPost generated operating profit of €351m, up a remarkable 81.7% compared to the end of June 2019, against a backdrop of strong e-commerce growth from April which demonstrates its ability to adapt. Adjusted for positive scope and exchange rate effects of €44m, the operating profit delivered organic growth of €114m (up 59.5%), despite the additional costs linked to the management of the health crisis.

In the first half of the year, the group experienced an unprecedented health crisis. Despite the potential for future viral attacks, coupled with an ongoing adverse macroeconomic context, the group expects its various business units to return to more nominal activity levels. The group is planning to implement an ambitious cost-savings plan to mitigate the long term impacts of the crisis and is committed to ensuring that the balance of the Universal Postal Service is sustainable.

Source: Le Groupe La Poste

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