France’s La Poste is targeting higher revenues and operating profits along with a 3-4% profitmargin in 2012 despite the uncertain economic outlook in France and the rest of Europe.
The 2012 budget, approved by the group’s board of directors in late December, confirms the ‘robustness’ of the group’s multi-business model and falls within the scope of the medium-termstrategy ‘Ambition 2015’ even though the economic climate has worsened since the strategy wasestablished in 2010, the company said.
La Poste is aiming for revenues of €21 billion in 2012 and will continue its policy of costcontrols. The group is targeting an operating profit at least in line with the original target forthis year and an operating profit between 3% and 4%.
In comparison, in 2010 the group had turnover of €20.9 billion, an operating profit of €784million and an operating margin of 3.7%. For 2011 it budgeted for stable revenues and an operatingprofit margin of 3%. In the first half-year its turnover rose 1.9% and the operating profit marginreached 4.7% but the company was expecting weaker results in the second half of 2011.
Under the Ambition 2015 strategy, which was presented in April 2010, La Poste aims to increasegroup revenues to about €22 billion and to achieve an operating profit margin of about 8% by 2015.Growth would be driven by the express & parcels business while mail profits should be keptstable despite an expected 30% drop in volumes.
La Poste stressed that the 2012 budget supported its values of ‘responsible performance’,including a social model putting staff at the heart of the strategic plan along with social andenvironmental responsibility, and also reflected its aim to become a European leader for ‘localpostal and financial services’ by 2015.
