26-02-2026

Good performance in bancassurance and resilience in industrial activities.

Driven by the Group's multi-activity model, net income attributable to the Group reached €1,160 million, representing organic growth of €279 million excluding non-recurring items. In 2025, the Group implemented cost control measures across all business lines. Regarding ESG (Environmental, Social, and Governance), the Group reduced its greenhouse gas (GHG) emissions by 3.8% compared to 2024 and is on track to meet its near-term SBTi (Sustainable Development, Tax, and Tax) trajectory.

Foreword by Marie-Ange Debon, Chairwoman and CEO of the La Poste Group

In 2025, the La Poste group shows good resilience in a context of heightened competition and a disrupted economic environment.

This performance is primarily due to the commitment of the group's employees, who, each in their respective roles, ensured strong sales momentum, adaptability, transformation, and innovation. I also want to emphasize the significant efforts made across all departments to control costs.

Taking up my duties as CEO on October 22, 2025 of a group that has already undergone significant transformation, I felt the energy of the teams; it is a considerable strength.

I remember from this year 2025 the successful implementation of La Banque Postale's transformation plan and the performance of CNP Assurances, supported in France in particular by the commercial dynamism of the post office network and internationally by the quality of its strategic partnerships.

I also note the increase in parcel volumes delivered worldwide by the group (2.7 billion), with a particularly strong growth for Geopost (+5%). By 2025, the parcel business, driven by Colissimo and Geopost's commercial brands (Chronopost, DPD, etc.), will contribute 53.6% to the group's revenue, but the sector is suffering from significant pressure on its margins, particularly due to the growth of new players and the out-of-home market.

Mail volumes continue their structural decline (-8.1%), and I want to emphasize the significant efforts made to adapt the organization to this ongoing erosion. Mail operations now contribute only 15% of the group's revenue.

2025 is a year of consolidation for our new digital services and human proximity activities which reach 1.6 billion euros in revenue.

The La Poste Group continues its ambition to be sustainably profitable and responsible. This year, we have further reduced our greenhouse gas emissions by 3.8% across all our business lines, reinforcing our adherence to our near-term SBTi trajectory and our CDP List A rating. As a purpose-driven company, La Poste's societal contribution remains significant: 419,000 jobs are supported by the Group's activities in France. As a responsible employer, the Group continues its initiatives for the health and safety of its employees, training, and diversity, and this is a priority for me.

The La Poste group is moving forward and I am determined to support it in the continuation of its transformation, reconciling our roots, our commitment to our public service missions and our business dynamics, with quality of service and performance at the heart of our collective actions. 

Financial performance

La Poste Group's revenue amounted to €34.4 billion (-0.5% and -0.2% at constant scope and exchange rates vs 2024), marked by the recovery of banking activities, the robust performance of insurance activities, strong competitive pressure on Parcels and the continued decline in Mail.

  • Parcels  : volumes increased by +3.7%, to 2,721M vs 2024, driven by the growth in Geopost volumes (+5.0% vs 2024, to 2,244M) while those of Colissimo declined slightly (-2.1% vs 2024, to 477M) in very competitive markets; Parcels represent 53.6% of the group's revenue (vs 53.0% in 2024);
  • Mail: volumes continued their structural decline to 5,160 million letters distributed vs 2024 (-8.1%), partially offset by price increases; Mail represents 15.0% of the group's revenue (vs 15.8% in 2024);
  • Bancassurance activities: In a favorable interest rate environment, banking activities are recovering, driven by a sharp increase in net interest margin (€327 million vs. 2024) and cost control; CNP Assurances is maintaining a high level of performance. Bancassurance activities represent 22.4% of the Group's revenue (vs. 21.7% in 2024).

The group's results are resilient, supported by the group's multi-activity model and the cost control efforts provided by all business lines:

  • Operating income amounted to €2,517 million (-14.7% and -7.8% at constant exchange rates compared to 2024), supported in particular by the increased contribution from bancassurance activities (+€177 million) despite the structural decline in Mail and pressure on Parcel margins. Efforts to control operating expenses were undertaken across all business lines. The Group's operating income, excluding significant non-recurring items, was €2,430 million, an increase of €140 million (+6.3% compared to 2024) at constant scope and exchange rates.
  • Net income attributable to the Group amounted to €1,160 million (-17.7% and -4.4% at constant exchange rates compared to 2024, the latter figure including the €500 million capital gain from the sale of La Poste Telecom in 2024). Net income attributable to the Group, excluding significant non-recurring items, was €1,233 million, an increase of €279 million (+30.5% compared to 2024) at constant scope and exchange rates.

The group has maintained its efforts regarding financial structure:

  • Free cash flow is positive at +€547M (vs +€1,124M¹ in 2024);
  • Investments and net external growth from disposals (excluding LBP branch) ² amount to €1,174 million (vs €911 million in 2024 less the effect of the sale of La Poste Telecom of €496 million), marked by a high selectivity of investment and external growth choices;
  • Net debt decreased by -€845M (-8.0%) to €9,756M.

Extra-financial performance³
The La Poste Group aims to be a sustainably profitable and responsible company. It focuses its actions on 10 key ESG issues⁴ derived from a dual materiality analysis.

These challenges correspond to 3 performance levers that contribute to its impact as a mission-driven company.

Environmental performance (Taking action for the planet)

The group reduced its GHG emissions by -3.8% (3.99 MteqCO2 or -158,472 teqCO2 vs 2024) and reinforces compliance with its SBTi trajectory.

  • Continued electrification of the delivery fleet (more than 35,000 electric vehicles in service in Europe⁵ ) and decarbonisation of medium and long distance transport ;
  • Regarding the Parcel activity, a further decrease in GHG emissions in absolute value , in a context of increasing volumes;
  •  The group has defined its first medium-term climate plan recognized by the CDP List A rating and its first climate change adaptation plan ;
  •  Sustained development of bancassurance activities in sustainable finance : ESG investments by La Banque Postale and its subsidiaries amount to €389 billion and represent 80% of total investments.

Social performance (Taking action for employees)

Robust social performance thanks to the commitment of all employees and to ongoing, constructive social dialogue.

  • New employee representative bodies (CSE) and signing of several majority agreements by La Poste and trade union organizations in connection with key ESG issues;
  • A caring company: the group is taking action globally to improve the quality of life and working conditions for all employees, particularly those with disabilities, whose share is increasing to 5.6% ⁶ (vs 5.0% in 2024);
  • Qualifying company  : 84.3% of the group's employees were trained during the year;
  • Committed company : the group promotes diversity, inclusion and equal opportunities. Equal pay, achieved at the level of La Poste SA⁷ , is progressing globally for the group with a gap between women and men of -4.1% (vs -4.2% in 2024).

Societal performance (Acting for society and for the future of territories)

The group supports transitions and promotes the development and cohesion of territories.

  • Increase in the production of credit to clients in the public sector and social economy of +17.4% to €13.8 billion;
  • The group develops ethical, sovereign and inclusive digital services . The number of active Digiposte customers is 14 million; the number of La Poste Digital Identity users is 8 million, positioning the group as the number 1 provider of digital identity services in France;
  • In France, the group supports 419,000 jobs in local areas (1.4% of employment) directly or through its purchases from the local economy (€15.3 billion).

¹ Including €1,000 million exceptional dividend paid by La Banque Postale (LBP).
² excluding LBP, Internal investments, excluding disposals and external growth and net financial assets, including disposals.
³ The work of verification by the auditors of the sustainability indicators presented in this press release is being finalized.
⁴ 1. Support the fight against climate change, 2. Improve air quality, 3. Develop the circular economy, 4. Improve quality of life and working conditions, 5. Develop employability, 6. Promote diversity, inclusion and equal opportunities, 7. Sustainably develop customer preference, 8. Promote ethical, sovereign and inclusive digital technology, 9. Support the development of territories and create social cohesion, 10. Develop responsible relationships.
⁵ Including vehicles of Geopost's subcontractors.
⁶ Standardized CSRD rate on the group scope (different from the French BOE rate previously communicated).
⁷ Excluding civil servants.

Perspectives
In a context of rising geopolitical tensions and the rules of the commercial game evolving almost continuously, the World Bank anticipates a slight slowdown in global growth, projected at 2.6% in 2026. In Europe, growth forecasts remain weak (1.2% according to the ECB), particularly in France (1% according to the Bank of France).

Source: La Poste Groupe