Poste Italiane closes on third quarter with turnover of 2,6 billion euros, up 0,8% year-on-year. In the former nine months, however, revenues stop at 7,7 billion, 5,2% less than in the January-September period of 2019. Net profit it is equal to 353 million between July and September (+10,3%) and 898 million between January and September (-17,1%).
"This quarter has shown clear signs of recovery, confirming the solidity of our business model in all sectors - comments the CEO of Poste Italiane, Matthew Del Fante – Our strategy proved to be correct and helped us successfully overcome this moment”.
The Covid-effect is also noticeable on the profitability front: in the quarter the operating result (EBIT) is equal to 479 million euro (+4,2%), while over the nine months it does not go beyond 1,244 billion (-19,2%). However, net of extraordinary expenses related to the pandemic, Ebit rose to 507 million between July and September (+10%) and to 1,325 billion between January and September.
“Our solid customer base – Del Fante said again – has also allowed us to achieve a record retail net inflows of €9,8 billion in the first nine months by 2020, helping to reach €556 billion in total financial assets”.
as to second wave of the pandemic, “we are more than ever prepared – assures the managing director – The operating activity is solid and our attention to cost discipline offers us further flexibility to face potential difficulties in revenues”.
Finally, the Poste Italiane Board of Directors has also given the go-ahead for the distribution of a interim dividend on the ordinary dividend expected for fiscal 2020, for an amount of 16,2 cents per share. The down payment will be paid from November 25th, with coupon detachment on the 23rd and record date on the 24th.
“The important business results achieved and the solid financial position allow us to confirm our dividend policy for 2020 - concludes Del Fante - with the distribution of the interim dividend in November, which incorporates the 5% annual growth expected in Deliver 2022 Strategic Plan”.
