The board of Poste Italiane, chaired by Silvia Maria Rovere, approved the financial data for the first nine months of 2024, showing performances above analysts' expectations. Thequarterly net profit recorded an increase of 48,9%, reaching 569 million euros, while the revenues reached 3,06 billion, marking a growth of 9,6% compared to the same period in 2023. In the first nine months of the year, theNet income increased to 1,6 billion euros, with an increase of 19,5%, while the total revenues reached 9,23 billion, up 8%. A result that was possible thanks to the excellent performance of the mail and parcels sector, with double-digit growth in parcel revenue and a stability in the correspondence. The adjusted operating result (Ebit) recorded a leap of 17,8%, reaching 2,3 billion euros in the first nine months, with a strong increase in the quarter (+46,4%).
Poste: solid financial position
La net financial position of Poste Italiane is positive for 5,63 billion euros at the end of September 2024, an improvement compared to 3,86 billion at the beginning of the year. Invested Financial Activities (AFI) reached 593 billion euros, with an increase of 12 billion compared to the beginning of the year. The increase is the result of a positive net collection of 3,9 billion in investment products, supported by successful commercial initiatives.
Poste Italiane: the results of the business sectors
- Correspondence, parcels and distributionThird-party revenues from this segment reached 2,8 billion in the first nine months, up 1,5% from the previous year.
- Financial servicesThey generated gross revenues of €4,7 billion, with a growth of 4,4% year-on-year, driven by a positive interest margin.
- Insurance servicesThird-party revenues grew by 7,3%, thanks to an improvement in net collections in the life insurance sector and the constant growth of the protection insurance sector.
- PostePay and digital servicesRevenues increased by 10,4%, driven by expansion in e-commerce and digital payments, consolidating leadership in the digital payments sector in Italy.
Growing Dividend: Interim Payment of 0,33 Euros per Share
Based on the solid results recorded in the first nine months, the management of Poste Italiane has proposed the distribution of a interim dividend 2025 relating to the 2024 financial year, for a amount of 0,33 euros for action, in del% increase 39 compared to last year. The interim dividend will be distributed to shareholders starting from November 20. The dividend policy has been updated to reflect the positive trend, with a full-year net profit forecast of around €2 billion.
Poste: guidance seen on the upside
In light of the results obtained, Poste Italiane has raised the guidance of Plan for adjusted EBIT at 2,8 billion euros by the end of the year, revising upwards the expectations already in July. The future strategy will focus on Consolidation of key business units, on the expansion of digital services and on increasing operational efficiency.
Del Fante: “Excellent results, robust performance”
“Today we have once again reported excellent results, further confirming the ability of our unparalleled platform company to generate solid and sustainable profitability and cash flows, with robust performance across all business sectors and positive trends confirmed in the third quarter of 2024. Cost rationalization remains a key priority, allowing us to effectively mitigate inflationary impacts while supporting business growth. As always, we remain focused on achieving new results, while advancing the execution of the “Connecting Platform” industrial plan. We are further strengthening our upwardly revised EBITDA guidance for FY2024 of €2,8 billion with net income guidance of €2 billion. Our strong and sustainable financial performance and cash generation enable us to generously reward our shareholders while maintaining a very strong capital position. As a result, we will pay an interim dividend of 33 cents per share, equivalent to €427 million, up 39% from last year, in line with our guidance of full-year 2024 net profit of €2 billion and the new pay-out-based dividend policy. Our greatest asset is our employees, whose commitment and professionalism are essential to the continued success we are seeing in 2024 and will continue to see in the future,” he commented. Matthew Of The Fante, CEO Poste Italiane.
Del Fante: “we are leaders in eCommerce deliveries, polis project is already well underway”
Del Fante, explained to TgPoste as in the third quarter of 2024 “we grew by 2023% compared to the third quarter of 24 in the world of parcels“. He recalled that “seven years ago we decided that this company had to enter the parcel market” and, with the 2024 results, “we are there”. Del Fante also highlighted the Logistics network transformation which today involves approximately 27.000 postmen, explaining: "40% of those parcels are delivered today by our postmen. From the industrial plan we will gradually grow, and in 2028 we will have over 2/3 of the parcels delivered by postmen". On Polis project, he then added: “The project is operational, we are ahead of what we had communicated to the market and the government”. Currently there are “almost 3.000 active offices, 25.000 practices already brought to the service of citizens”, with the passport service active in approximately 250 municipalities. “We are ahead and proudly happy” – concluded Del Fante – to have a great return of interest on the part of the Italians".
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