Growth continues steadily Poste Italiane. The group led by Matteo Del Fante closed the first quarter of 2023 with revenues of 3 billion euro, up 8,1% compared to 2,8 billion in the first quarter of the previous year and a net profit of 540 million, up 9,4%. The payments and mobile segments drive the turnover. The group made it known in a note, adding that the operating result increased by 11,2%, to 767 million euros. While costs, in line with expectations, increased by 7%.
Of the infantryman commented: “The first quarter results are very strong and offer significant visibility into our 2023 guidance, with strong financial performance and profitability generation across all business lines while continuing to maintain a cost focus. . Commercial trends were favorable in all lines of business”.
Poste Italiane numbers for the first quarter of 2023
All the main budget items, approved by the board of directors, are growing. In particular, i revenues in the mail, parcels and distribution segment they amounted to 893 million (-0,9%); financial segment revenues of €1,4 billion, up 7,9%, supported by growth in net interest income; the revenues of the insurance segment amounted to 393 million, up by 5,5%. Strong revenue growth of payments and mobile segment they grew by 48,2% to 343 million, thanks to contributions from all product lines, the consolidation of LIS and the launch of the new energy offer.
On the profitability side, the operating result (EBIT) in the first quarter of 2023 amounted to 767 million euros, +11,2%.
As for invested financial assets, these reached €579 billion in the quarter, supported by net inflows of €0,8 billion and market value growth of €2,6 billion since December 2022. In the first quarter of 2023, net inflows were achieved positive of €0,5 billion in savings and investment products, thanks to positive inflows from insurance, deposits and mutual funds and the renewed commercial offer of postal savings.
I total costs in the first quarter of the year amounted to 2,3 billion euro, up 7% on the 2,1 billion of the previous year and in line with expectations. Excluding the impact of IFRS17 and the effect of the acquisitions, personnel costs were essentially stable, with the reduction in FTEs (number of full-time equivalent people) mitigating the increase in the salary component.
THENet income in the first quarter of 2023 it was equal to 540 million euros, up by 9,4% compared to the level of the previous year (494 million).
Lastly, Poste highlights the asset position Solid: Total capital ratio of BancoPosta at 23,7% (of which Cet1 ratio at 20,9%), Leverage ratio of BancoPosta at 3,1% and Solvency II ratio of the Poste Vita insurance group at 267%. well above managerial ambitions.
2023 guidance confirmed
“The solid results of the beginning of the year position us very well to reach our goals for 2023 – added the CEO -. Above all, we are committed to rewarding all our stakeholders with sustainable performance in 2023 and beyond, starting with the dividend balance of €0,44 per share to be paid on June 21st.”
