The quarterly season continues with Poste Italiane, which closed the third quarter of 2021 with revenues equal to 2,8 billion euros, up by 7% compared to the same period of the previous year, while in the nine months of the current year revenues reached 8,4 billion, up by 12% compared to the nine months of 2020.
In the three months from July to September, the Operating income it stood at 566 million (+16%), while from January to September it reached 1,6 billion (+30%). fly theNet income, which in the quarter rose by 14% to 401 million, while in the nine months it recorded an increase of 31% to 1,2 billion.
“We have achieved solid results, in the context of a continuous improvement of the Italian economy, with all our activities regaining even more momentum in growth compared to the phase before the pandemic, demonstrating the validity of our diversified business model. In this scenario, we remain focused on balancing cost efficiency and investments aimed at seizing growth opportunities”, commented Matteo Del Fante, CEO of Poste Italiane.
By virtue of the results obtained, Poste Italiane has revised increase the profitability targets for the full year, bringing ebit to 1,8 billion and profit to 1,3 billion. The company also confirmed the deployment of a interim dividend on 2021 results equal to 0,185 euro per share (+14% year on year).
The group will review its guidance on 2022 results in the first quarter of next year. “We will take the opportunity to upgrade some elements of the 24SI business plan which have taken a different direction from what we had in mind” explained Matteo Del Fante during the conference call with the analysts. Poste Italiane and Cdp, he then specified, are "in the last administrative aspects" on the renewal of the agreement for the placement of postal savings.
Poste Italiane underlines the growth achieved in all sectors of the parcel business, the recovery of mail revenues; the constant increase in payments and mobile, highlighting how financial and insurance services were supported "by the solid performance of the distribution network". In details, total financial assets they have reached 582 billion, above the objectives set for 2021. And speaking of objectives, among those of management, the note explains, the group highlights its intention to continue the path of evolution of the offer with entry into the energy market expected during 2022 and with the development of the strategic parcels, e-money and protection segments. Poste Italiane will also support the go to market of the new motor liability and ultra-broadband offers, to improve market penetration in the post-launch phase.
Returning to the numbers, in the third quarter, the revenues of the Mail, Parcels and Distribution sector rose by 9%, compared to the same period of 2020, reaching 849 million (+18,9% year on year to 2,7 billion in the nine months of 2021). As for the individual segments, in the third quarter of 2021 correspondence revenue increased by 9,7% to €497 million (+10,3% or €1,5 billion in the first nine months) with volumes up by 10,1% compared to the third quarter of 2020 (+12,6% compared to nine months of 2020). In quarter i parcel revenue grew by 7,8%, reaching 314 million (+33,2% to 1 billion in the nine months), other revenues increased by 9,4% to 38 million (+27% to 138 million in the nine months of 2021).
From July to September the volumes of the B2C sector rose by 7,4% to 38 million units (+33,9% compared to the nine months of 2020, equal to 130 million units), those of the B2B sector grew by 4,5% to 9 million units (+15,2% compared to the first nine months of 2020, at 31 million units), while the volumes of the C2X compartment marked a drop of 4,2% to 1,2 million units compared to the third quarter of 2020, during which particularly strong activity was recorded influenced by the lockdown (+8,2% compared to the nine months of 2020, 4,4 million units). Overall, in the nine months of 2021 almost managed one million parcels a day, with postmen delivering 55 million parcels, recording an increase of 3,9% compared to the first nine months of 2020. Finally, the distribution revenues they increased in the third quarter by 10,1% to 1,2 billion and in the nine months by 6% to 3,6 billion.
"We are recovering mail volumes as we return to normal, and parcels continue to grow in the direction of a new normal," says the CEO. Matteo del Fante -. Deposit growth was strong and our tax credit buyout offer resonated with a rapidly expanding client base, supporting net interest income despite low interest rates. In insurance services, we confirm our ambitious targets for 2021, with 66 per cent of gross life premiums coming from our multi-class offer. The start-up of the energy business, as part of our constantly growing digital and payments offer, is proceeding in line with the expected timescales", continues the manager who also underlines how "the success achieved in the implementation of the 24SI Plan” is “at the basis of the update of our guidance for 2021”.
On the renewal of the agreement for the placement of postal savings with CDP I am at the final stage of the “last administrative aspects”.
In Piazza Affari, after the presentation of the accounts, the title Poste Italiane it dropped more than 2% to 12,255 euros.
Last updated at 00:39 on Friday 12 November 2021.
