Dec 12 2013
Philippe Wahl1, the new CEO of The workstation2, will enter the heart of the matter. On Thursday, the former banker has at its Board of Directors the estimated budget for the group for the year 2014. The prospects are not rosy: according to our information, it provides a fall in operating income of 22%. A change in the line performance in 2013. The 2014 budget, however, takes into account the fresh air provided by tax credit for Competitiveness and Employment (Cice3). Between 2013 and 2015, La Poste should collect more than 700 million euros for this purpose.
But this public support will not stem the continued decline of mail, gradually undermining the economic balance of the group. 2014, Philippe Wahl provides for a reduction in volumes of 5% to 6%. This fall will cost nearly 500 million income group. It will be only partially offset by price increases, which should revolve around 3% in 2014. Mail center is expected to fall in the red very soon, as soon next year.
Since this year, Mail4 activity had already lost its position as the leading contributor to the Group's operating result. In the first half, it was for the first time exceeded by the postale5 Bank.
Philippe Wahl, who led the banking subsidiary until this summer, is convinced of the potential in terms of growth drivers of La Banque Postale. And intends to rapidly improve its profitability. In late June, the operating La Banque Postale coefficient – which measures the ratio of operating expenses to net banking income – reached 83 guaranteed online personal loans.2%, compared with 54.8% of Crédit Agricole Regional Banks.
The first budget of Philippe Wahl La Poste was expected because interpreted as an introduction to its strategic plan, which will be unveiled in late January. This plan, which already bûchait's predecessor Philippe Wahl, Jean-Paul Bailly, La Poste must project to 2018. At that time, mail volumes vary between 10 and 12 billion folds exchanged against 18 billion in 2008. Faced with this cliff, the leader seems yet to have little cards.
Flexibility determined by its principal shareholder, the State seems close. The maturity of the municipal elections in 2014 and prohibits questioning the short term, the "universal postal service", or mail delivery six days a week throughout the French territory. A service that decided to forgo Wednesday, for example, the Canadian position for budgetary reasons. In social terms, La Poste also faces a complex situation. Since 2010, enrollment has declined by an average of 5,000 employees per year due to attrition. Under the Cice, La Poste has yet committed to recruiting 15,000 people between 2012 and 2014.
In this troubled context, trade unions – CGT, SUD, FO, CFDT, CGC-UNSA, CFTC – Thursday organized a demonstration to protest against the proposed closure of sorting mail, which could, according to them, threatening 2,000 jobs .A standard feature of life insurance quotes is a set of written terms and conditions which set out whether the policy being sought is a term policy or a permanent one.