German digital freight forwarder sennder is renewing its joint venture (JV) with Poste Italiane with the aim of generating 2.3 billion euros ($2.5 billion) in revenue over the next 10 years, sennder CEO David Nothacker said on Wednesday.
FRANKFURT, July 12 - German digital freight forwarder sennder is renewing its joint venture with Poste Italiane
The venture, known as sennder Italia, achieved earnings before interest, taxes, depreciation and amortisation of 4.5 million euros in 2022, cutting costs for Poste Italiane with its technology that reduces manual operations and unnecessary mileage for freight. The joint venture deal was struck in 2019, following a chance meeting in Italy, which led to the partnership with the Italian postal operator. The support of state-backed Poste Italiane's CEO was critical, Nothacker told Reuters.
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