sennder and Poste Italiane Extend Their Joint Venture

sennder Technologies GmbH (“sennder”), the leading digital freight forwarder in Europe, and Poste Italiane S.p.a. (“Poste Italiane”), the largest postal and logistics company in Italy, have announced the extension of their joint venture agreement, sennder Italia S.l.r., for up to 10 years. Furthermore, sennder and Poste Italiane are announcing the completion of a strategic partnership with the potential to generate approximately 2.3 billion euros for the joint venture over a period of up to 10 years.

(Berlin/Rome) Together, the two leading logistics companies are leveraging sennder’s technology to enhance the efficiency of the entire Full Truck Load network, or FTL, in road freight transport, transporting packages and mail between all sorting and distribution centers of the leading Italian postal service.

In 2019, sennder opened an office in Milan and established the joint venture sennder Italia S.r.l. in collaboration with Poste Italiane. Since then, sennder Italia S.r.l. has developed into the leading digital player in the Italian Full Truck Load market. The joint venture is already profitable and achieved an EBITDA of 4.5 million euros in the fiscal year 2022. The success of the partnership is reflected in the growth of the joint venture, which has consistently maintained double-digit annual growth rates, accelerated by the expansion of network capacities and the number of customers.

Due to the positive business development, the joint venture will be extended for a period of up to 10 years and is expected to generate 2.3 billion euros in revenue for sennder Italia. With the signing of the new agreement, the early execution of conversion rights has been completed – sennder now holds 75% of sennder Italia S.l.r., while Poste Italiane holds 25%. At the same time, Poste Italiane is increasing its stake in sennder to approximately 10% on a fully diluted basis. With the expansion of the partnership, sennder will further integrate the entire Full Truck Load network in Italy into its European platform. Through this partnership, the two leading logistics companies will unlock further economies of scale and accelerate the digitization of road freight transport. Poste Italiane will continue to benefit from comprehensive GPS visibility of trucks, state-of-the-art automation technology, and optimization of transport capacity utilization. Additionally, the company can further reduce its CO2 emissions through vehicles powered by alternative fuels.

Benchmark for Future Partnerships

“The partnership between Poste Italiane and sennder is a prime example of the immense value that can be created by the merger of leading and established players with technology companies. Our partnership is a win-win for both sides: Poste Italiane benefits from significant cost savings, while our operations run more profitably, and we can further reduce CO2 emissions through the optimization of the transport network, and to a remarkable extent. The partnership is further evidence of the power of innovation and the potential of collaborations in the logistics industry. We are setting the benchmark for future partnerships. We are proud to be at the forefront and create tangible benefits for all industry participants,” said David Nothacker, CEO and co-founder of sennder.

Through advanced technology and the elimination of multi-layered subcontracting, sennder enables thousands of small carriers to transport loads from Poste Italiane efficiently and transparently, thereby optimizing the efficiency of their logistics processes. sennder’s platform aids in the digital tracking, monitoring, and management of loads, eliminating manual processes, reducing empty kilometers, and increasing efficiencies.

Foundation for sennCONTROL

The joint venture has laid the foundation for sennCONTROL, sennder’s innovative service model. sennCONTROL offers a digital end-to-end management of the entire Full Truck Load volume of its customers through a portal and an interface. This ensures control and transparency over transports for shippers and carriers through a single point of contact. The collaboration between sennder and Poste Italiane has paved the way for the expansion of sennCONTROL across Europe: Currently, 10 customers are already using sennCONTROL.

Photo: © sennder