SEPI Sociedad Estatal de Participaciones Industriales

• The Plan proposes more than 130 specific actions which will promote that the Group focuses on its customers and the efficiency, flexibility and sustainability of the state-owned post service
• It includes short, medium and long-term initiatives aimed at strengthening its presence in the traditional post business, packaging and digitalization services, and for maximizing the commercial muscle of its network, which is made up by over 2,300 offices

The Chairperson of Grupo CORREOS, Mr. Javier Cuesta Nuin, has made public the Action Plan 100-300-1.500, which stipulates the specific actions which the Group is going to apply in order to achieve the strategic goal of transforming the Company into the best provider of physical and electronic communication services in the Spanish market.

That goal includes providing the Universal Postal Service at a competitive cost, under criteria of efficiency, quality and sustainable profitability, as well as maximizing the commercial muscle of the more than 2,300 post offices, in order to turn it into the best services network, and which will act as the citizens’ link with the Public Administration and the enterprises.

The presentation took place before more than 500 of the Company’s managers and middle-managers, besides of representatives from the Ministry of Public Works and the Ministry of Finance and of SEPI. The place chosen was IFEMA’s South Auditorium. In the act also intervened the Manager in charge of strategy and business development, Mr. Óscar Medina, and the Commercial and Marketing Manager, Mr. David Muntañola.

SEPI’s Chairperson, Mr. Ramón Aguirre, welcomed all those attending the act and highlighted the importance which has had CORREOS’ arrival to the state-owned corporate holding 'since it has shown the will which exists of introducing a new way of working, based on the required reorganization of the state-owned corporate sector and the control of public spending'. In this sense, Mr. Aguirre showed his satisfaction with both the process for integrating CORREOS within SEPI’s scope and with the different initiatives which this company is applying for promoting its activity.

CORREOS Action Plan is going to attract a number of opportunities, which will act as a turning point for facing the market difficulties, the new competitors and the electronic world. In relation with all these threats, CORREOS keeps the strength of being a great brand in the telecommunications market and of being one of the most advanced companies regarding its technological systems', he stressed. Finally, SEPI’s Chairperson warned that “CORREOS’ future is linked to this Action Plan, as it is the product of the thinking, its employees’ contributions and the unity which prevails within Grupo CORREOS'.

During the meeting the audience was introduced to three examples of comprehensive solutions which CORREOS has provided to big customer companies, thus contributing with solutions which are both innovative and adapted to their needs of succeeding in their business.

PLAN 100-300-1.500

“This Plan faces two challenges: Setting lines of work for giving shape tomorrow’s CORREOS with a new business model, and specifying short-term actions which have a positive impact on our loss and profit account, that is, on today’s CORREOS”, emphasized Mr. Javier Cuesta. “With this Plan, the customer becomes our reason for existing and the focus of our activities, and this will be determinant for the Plan’s success and the Company’s future”.

That is why the Plan includes a number of priority initiatives which will have immediate results within a 100-day period; initiatives which will entail a significant transformation within a 300-day period, and others which will guide the Group’s activities within a 1,500-day period, in order to compete successfully in a market which is totally liberalized and in a state of flux.

The design of this Plan, in which took part more than 200 persons from the Company, takes as its starting point the current strengths of the Company – size, geographical coverage, capillarity, technological capacity – and the values which citizens have traditionally linked to CORREOS, such as guarantee, proximity and trust.

The strategic ambition is to promote a deep transformational process in the Company which will finally orient it towards the customer, helps it to take advantage of the business opportunities, and to create new ones, and foster a new corporate culture based on flexibility, team work, efficiency and, of course, on the professionalism and the commitment of its more than 55,000 employees.

MORE THAN 130 ACTIONS FOR TRANSFORMING CORREOS

This transformation of the Company is based on four strategic lines; the effective diversification of CORREOS’ business lines in order to overcome its excessive dependence on the traditional postal business; the commercial efficiency, the operating optimization in order to take as much advantage as possible from the great strength which constitutes the capillarity of the network of offices and distribution owned by the post company, and the development of an internal organizational model which results in a faster process for taking decisions and which promotes the quick application and follow-up of those decisions.

Based on the three basic principles of the post service profitability, efficiency and sustainability, the Plan contemplates more than 130 actions organized around seven action axes which span both the Company’s current business lines and those for the future, as well as the internal organization processes.

Among them are the renewal of the traditional postal business through new products oriented towards direct marketing and the management of databases; promoting packaging, with added-value solutions which are specific for ecommerce; positioning itself in the electronic business and digital services; the definition of a comprehensive solutions portfolio for customers, promoting the commercial capacity of the offices network and opening new businesses, such as proximity services and the internationalization. All of them based on a deep transformation of the internal culture and which promotes the efficiency and value creation for the customer.

In its effort for achieving the above goals, Grupo CORREOS will exploit the synergies which result from the combined activity of the four companies which make it up: the parent company, Correos, and the affiliated companies Chronoexprés, Correos Telecom and Nexea.

In this regard, several of the actions included in the Plan are focused on the design of a joint portfolio of packaging products for CORREOS and Chronoexprés, and more coordination between both companies. Equally, it is envisaged to offer a product which integrates the solutions in the management of documents which Nexea offers regarding the design and print of large-scale communications with the capacity for distributing and validating the efficacy of the campaigns on the part of CORREOS.

CORREOS’ Chairperson, Mr. Javier Cuesta Nuin, finished stressing the transformational capacity contained in this Plan and the need of achieving the commitment of every employee of the Company: “The Plan which we present today clearly shows that we know where we have to go and that we know how we are going to do it. I am convinced that CORREOS has a successful future ahead and that, among all, we are going to be able to make the transformation required for building it.”