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The sole shareholder of San Marino Post has approved the final balance sheet for 2023: this balance sheet reflects the decisive organizational and management transformation that began in 2021, with the drafting of the company’s first industrial plan and its transformation into a diversified service company.
The overall operating performance of San Marino Post is very positive, in fact, even better than predicted a few months ago, with profits expected to reach 1,065,154 euros in 2023, an increase of more than 300,000 euros compared to 2019. In 2022, it is exactly 761,710 euros.
Gross operating profit (EBIDTA) in 2023 amounted to nearly 1.268 billion euros and the company’s turnover exceeded 8.8 million euros, compared to approximately 8.3 million euros in the previous year.
The overall results are achieved through two different management areas, the Postal/Services Area and the Philatelic/Numismatic Area.
Postal and service industries
As is happening around the world, the postal sector is also severely affected by the inevitable decline in the volume of paper letters, due to the digital transformation that allows new and more direct forms of communication. Despite this, the profit and loss account of the Postal and Services sector continues to improve significantly, thanks to the diversification of the company’s turnover and important spending review activities. The final figures recorded for the Postal/Services sector at the end of the year show a deficit of €123,387, compared to almost €900,000 in 2020, a reduction of more than €750,000 in losses over three years.
Philatelic and Numismatic Department
In the second year of management of San Marino Postal Services, the philatelic and numismatic division’s operating profit grew to nearly €1,200,000. The company’s turnover increased from €4.4 million to €4.6 million, marking an increase in product sales in 2023.
Strategy
The Congress, represented by General Manager Gian Luca Amici, presented the initiatives that were essential to achieving results: company restructuring, acquisition of new activities and new service offerings, research and creation of new products.
“The Postal Board”, we finally read in a note from the company, “composed of the President Sergio Casadei, the Vice-President Andrea Ciavatta and the Directors Marino Albani, Nicolò Angelini and Pier Paolo Donati, thanks the Managing Directors for their decisive commitment and for their deep conviction that the progressive and revolutionary transformation towards a multifunctional service company has yielded concrete and encouraging results and has laid the foundations for new, ambitious objectives for the near future.”
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