Stabilize the turnover of The Post in 2010, despite declining mail. That is the goal of President Jean-Paul Bailly, who surrendered Thursday at conservative projections. 2010 is a key year for the group, became a company limited by shares on 1 March in anticipation of a capital increase of 2.7 billion euros, funded by the State and the Caisse des Depots.
The past year has finally been better than expected. Jean-Paul Bailly talks about a "beautiful resistance group in a rather difficult year." The Post has achieved 395 million euros of savings and leaving only three have been replaced. The financial structure remained "almost stable", even if it is "extremely fragile", with net debt of 5.5 billion euros to 4.1 billion euros of equity.The State has hit 105 million euros in dividends, and postal workers have been entitled to 221 euro bonus incentive.
For 2010, "the situation remains fragile," says Jean-Paul Bailly. The situation of the post, which represents 53.8% of sales group, will not improve. Last year, the volume decline (- 5.3%) has accelerated, and 2010 will be the same vein. "We continue to believe that the decline is structural, perhaps with the exception of a small part that is direct marketing," warned the president of La Poste unsecured personal loans .He offset this decline with the development of La Banque Postale and recovery of the parcel and express services.
Mailbox Secure
To learn more, it was not until the next board meeting in mid-April, and the presentation of what management calls its "financial trajectory. It is the strategic plan of The Post in 2015. It will support the recovery of the group before the arrival of the Deposit capital. One thing is certain: The Post must find new sources of growth. She is preparing to launch an offer for mobile phone (our editions of Wednesday), in partnership with a telecommunications operator to limit investment.Jean-Paul Bailly has announced yesterday the launch of Digiposte a secure mailbox on the Internet, where the goal is to eventually receive all their mail management (invoice, bank statement, pay slip …). In late March, The Post Bank will also launch in the consumer credit. "2010 will be a very important year in terms of innovation," promises Jean-Paul Bailly, in all trades.
The online banks will have to convince the French still reluctant. A BVA survey conducted for the Dutch bank ING Direct, four out of five French are not ready to transfer all or part of their funds in a bank online.
Requires close
The first reason given for their refusal is the need for closeness (89% of responses). Even if they are not all satisfied with their current bank, the French chose an institution primarily because it is easy to reach from home or workplace. Then (74%), fear of having no one to contact if problems or unexpected. Finally, the desire to maintain a customized report with a counselor is paramount for 68% of the 736 respondents with an internet connection … and 73% of them feel just as consultants online banks are unreachable.More surprisingly, the French fear the formalities of transfer of accounts and especially the closing costs from their current institution. But the closure of checking accounts are paying more since 2005!
Fresh lean
Yet the French recognize the qualities of online banks. Some like their fee policy on current operations or the free cards are recognized strengths. 35% of respondents spoke as a major factor in choosing a bank. The hourly range is also appreciated. That leaves working on customer relationship … ING, which currently has 750,000 customers in France, with 500,000 more expected within 6 months.
"See the BVA survey for ING Direct
"Online banking: Boursorama wants to" accelerate "
"It is first on the Internet that we follow his accounts
Lefigaro.fr / Jdf.com: In just under ten years, DreamNex has become the European champion of the Internet charming. What were the secrets of your success?
Patrice Macar: First, DreamNex was the first company to spell Internet with a quality, positioned on the high end, which addresses the general adult audience, namely men, women, and couples. In addition, there is no doubt that the sector is in vogue. Sexuality is no longer taboo. It is even likely. Sexy lingerie and sex toys have democratized, as evidenced by the series Sex and the City or the corner Toys Chics at Galeries Lafayette. Even M6 Boutique spent a night broadcast on its new range of sex toys.
Besides selling products, we developed our site Sexyavenue.com entertainment activity, with a video service (VOD), which has seriously accelerated with the spread of broadband. Again, DreamNex has cornered the French market. And the branch meetings has also had some success with its service Eden Flirt "for naughty games and free in a supervised environment.
In acquiring the Belgian Enjoy DreamNex early 2008 that declared its leadership at European level through its service XCAM, a kind of phone sex on webcams, where thousands of independent filmmakers around the world offer discussions erotic home.Buying Enjoy, for just over 40 million euros has been possible thanks to the IPO of DreamNex on Euronext (Compartment C) in March 2007, which then helped raise 15 million euros.
In recent years you've been very aggressive in the market by finalizing purchase of several companies. And you do not stop here …
We have no reason to stop there! Not only is DreamNex leader, but he is always alone on the European market very fragmented. In addition, we have the necessary cash to make acquisitions of our choice. In fact, since the IPO, DreamNex still has as much cash as all previous acquisitions have allowed a return on investment as we have been able to pay shareholders, while bailing out our cases.
In 2009, however, we took a break after four acquisitions in 18 months to restructure the group and maximize the new resources. It has centralized teams, we recruited new managers … But in 2010, one starts to hunt for great opportunities. It focuses on three areas that we know well. For now, DreamNex is strong in France, Belgium, Spain and Italy. We look for companies already well established, why not in Germany. We have two issues being discussed, but nothing is certain yet.
In 2009, your sales totaled 67.3 million euros, down 4.2% on a pro forma basis. What are your goals for 2010?
DreamNex activity, partly due to the vagaries of the consumer has finally stood up well in 2009. Surely it is because people are a little more at home and at restaurant or cinema.It does, they need to entertain. But it is true that we have found that the average basket of purchases on our site is a little less than before Payday Advance . Customers buy on average four products now rather than five.
Anyway, last year was pivotal. It was time to reorganize. The effects are already felt. Even if I never give targets usually I can tell you that the operating profitability of the group will win at least 5 points between the first and second half of 2009, reaching over 25% on the second part of the year .
You've decided to start a business of gaming. Is it not make too much diversification?
We realized that poker players, casinos, paris sports, etc..online customers and the Internet are actually charming in a hearing fairly close. DreamNex has the ability to generate audience. We can then exploit it and add another string to our bow. We will not incur massive investment in this activity. We will call for a turnkey solution for platform games through companies specializing in the field. The challenge now is to comply with legal constraints and heavy comply with specific regulations in force in different European countries.
By launching your own brand, have you played the card of profitability or is it rather a fun little marketing?
Both. It was first launched lingerie SexyAvenue. Now half of our products are sold to our brand. Since June 2009, we sell sextoys SexyAvenue.Note that sextoys now represent half of our total sales. For our sextoys, we chose 15 products that sold best on our site, we went to China, and we asked the same to our sign. Ultimately, the price is a little cheaper and our products SexyAvenue reap a gross profit of at least 70%. Value today, the brand recorded 27% of sales. We aim 30 to 35% in the short term.
What, ten years ago, you had the idea and the courage to get started in this business?
In fact, my ambition was to be undertaken on the Internet. I felt the revolution. I told myself that I must be part of this incredible movement. I wondered what kind of business I was targeting. I quickly noticed the United States, the adult business was going well. Meanwhile, in Europe, there was almost nothing, apart from sites in Pigalle …So I chose this niche, but with a real professional approach.
You must have had a hard time build your credibility at the beginning …
It is true that banks and other partners looked at me wrong at first. It was ten years ago and attitudes were different. There are still some people who are uncomfortable with the activity of DreamNex, but overall it's much more relaxed than before. Especially now that DreamNex is listed on the stock market and managed to get a good picture, relations are much easier.
Interview by Marine Rabreau.
ALSO READ:
"DreamNex: Gilbert Dupont initiates coverage has in optimism
2007: DreamNex, an introduction very 'sexy' to come
The priority project to reform the finance chair of Obama might derail in Congress. Supposed to address the causes of the banking crisis that has triggered a global recession, this reform presented in June by Treasury Secretary Tim Geithner, was nevertheless well on in the House of Representatives. In the Senate, however, as in the case of health reform, things get complicated.
The chairman of the Banking Committee of the Upper House, Democrat Christopher Dodd has introduced a very different text of the draft Administration and Obama much more radical. His project, no Republicans rally seems further divide the Democrats the majority. The objective of Barack Obama to enact a law by Christmas is compromised because the vast open debate by Chris Dodd could drag on for months.The Senate and House of Representatives, each on its own agenda, must agree on a common text.
Dodd, Senator from Connecticut, neighboring state of New York resident and where many Wall Street professionals, wants to give the dish any system of regulation of American finance. His most controversial proposal is to remove the Federal Reserve full competence in supervising banks. The Fed does not deal more than monetary policy, what Barack Obama wants to avoid. Dodd calls for consolidation into a new super agency to monitor banks, functions now split between four agencies.
Two points of agreement
The senator vowed Tuesday that he did not seek in any way to "punish the Fed, even if it was a" complete failure "in its mission of regulating banks.Chris Dodd also said he was not attacking "individuals or personalities, but the system architecture. A precision is useful when Ben Bernanke, the Fed governor, will testify before Congress at the end of the month for renewal of its mandate.
The blueprint also provides for federal regulation of insurance companies. So far these are the U.S. states regulate insurers. For prevention of systemic risks, he proposed a new agency specializing in surveillance of the largest banks. It would, in retrospect, these establishments to fund the eventual rescue of one of them.But to better ensure that the taxpayer is requested, the rival project of the House, instead stating that a fund maintained by these banks too big to fail accumulates in advance the resources needed for a rescue.
Two points of agreement exist however between the Obama Administration and the powerful senator. The first is the creation of a new agency that specializes in the regulation of financial products distributed to the general public, such as mortgages or credit cards. A proposal was however rejected by the Republican camp. In addition, Chris Dodd accepts the principles of management salaries and bonuses for bankers posed by the White House. It is forcing banks to greater transparency and allow shareholders to vote on remuneration issues.
But the boards would retain the discretion to overrule.However regulators may prohibit any compensation deemed "excessive." Finally the most senior officials of banks would be forced to surrender their salaries awarded in the event of subsequent review of company performance.
Christopher Dodd, a key player "Ron Paul, the Republican who calls for an audit of the Fed's" The insoluble problem of the size of banks