Despite an uneven economic context, La Poste Group posted encouraging results in 2010. The Group’s revenue increased by 2% and the operating profit is up, while complying with its public service missions and commitments relating to the recovery plan. Its improved reduction in debt also plays a part in further consolidating its financial situation.
Breakdown of revenue for La Poste Group
Breakdown of operating profit
Breakdown of revenue by Business lines
Parcels-Express
The Parcels-Express segment recorded revenue of €4.841 billion, up 6.3% at constant structure and exchange rates.
In the French and European Express segment, GeoPost generated revenue of €3.398 billion, up 7.3% at constant structure and exchange rates in a highly competitive market. The impact of the 9.8% increase in volumes (mainly in Germany, the United Kingdom and France) was softened by an average negative price effect of –3.9%. ColiPoste’s revenue was €1.443 billion in 2010, up 4% compared to 2009. Volumes grew 2.7%, mainly due to the upturn in mail order house activity. Revenue from e-commerce was up 11% on the previous year.
The Mail sector and its subsidiaries generated revenue of €11,538 million, down by 1.2% at a constant structure and exchange rates.
The decrease in Mail volume remains significant but did slow in 2010 (economic volumes down 3.5%, compared with a 5% decline in 2009). This average figure reflects contrasting trends across the various mail segments (–6.7% for private mail, –4% for the press, –0.8% for registered letters and advertising mail). The Sofipost holding company increased revenue by 4% over the previous year, to €938 million (up 2.6% at constant structure and exchange rates). In 2010, the advertising sales agency Mediapost Publicité was created as part of Sofipost. The year also saw the acquisition of Sogec.
La Banque Postale
La Banque Postale continued to grow in 2010, currently boasting more than
10 million active customers, and reported consolidated net banking income of
€5.215 billion. The increase in credit outstanding exceeded €6.1 billion at the end of December, with more than €10 billion of home loan issuance, and consumer loans distributed for the first time in 2010. Customer funds in savings and sight deposit accounts were up by €6.2 billion at the end of December, as withdrawals from Livret A and LEP savings accounts were offset by positive new money collection for home ownership savings, life insurance and sight deposit accounts. Net banking income was up 3.9% (4.9% excluding extraordinary items). This increase resulted from the strength of household lending activity and the continued rise in the number of products per customer. La Banque Postale also remains the cheapest bank on the market.
