The Board of Directors of Poste approved the financial results for the third quarter of 2024

  • Record nine month group revenues, adjusted ebit and net profit
  • 9m-24 revenues  at €9.2bn, 8.0% y/y underlying  growth (€3.1bn in q3-24, +9.6% y/y) confirming the role as italy’s leading platform company
  • 9m-24 adjusted  ebit at €2.3bn, 17.8% y/y underlying2 growth (€789m in q3-24, +46.4% y/y), with effective cost discipline mitigating inflation impact, while supporting growth
  • 9m-24 net profit at €1.6bn (€569m in q3-24)
  • All business units contributing to revenue growth

The Board of Directors of Poste Italiane S.p.A. chaired by Silvia Maria Rovere, met today and approved the 9M-2024 Financial Results (unaudited).

Matteo Del Fante, Poste Italiane Chief Executive Officer commented: “Today we have  yet again reported another strong set of results, further demonstrating the ability of our unmatched platform company to deliver strong and sustainable profitability and cash generation, with solid performance across all segments and positive trends confirmed in Q3-24.

We’ve continued generating profitable growth year-to-date, with an Underlying revenue growth of 8% in the first nine months. Focusing on revenues, at €9.2 billion, they are the best nine-month revenue figure we have ever reported. Cost discipline remains a core focus as we continue to successfully mitigate inflationary impacts, while investing in business growth.

In the first nine months of 2024, both Adjusted EBIT and net profit are the highest we ever reported in the first nine months of a year at €2.3 billion and €1.6 billion, respectively, with a year-on-year Underlying growth of close to 20%.

Mail, Parcel & Distribution recorded nine-month revenues of €2.8 billion, driven by double-digit parcel volume growth and resilient mail revenues.

In Financial Services, revenues were at over €4 billion in the nine months, driven by strong NII and positive commercial trends across products.

Insurance Services revenues were up 8% in the quarter and 7% in the nine months, supported by a resilient Life business and a fast growing Protection business.

Postepay Services posted record top-line results for the nine months at €1.2 billion, bolstered by our e-commerce leadership consolidating the effectiveness of the Postepay everyday ecosystem.

As always, we remain focused on continuing to deliver, as we progress on the execution of the Connecting Platform business plan.

We are further strengthening our upgraded full-year 2024 Adjusted EBIT guidance of €2.8 billion with a net profit guidance of €2.0 billion. Our strong and sustainable financial performance and cash generation allow us to generously reward our shareholders while maintaining a rock-solid capital position. As a result, we will be paying an interim dividend of 33 cents per share, equivalent to €427 million euro which is up 39% on last year, in line with full-year 2024 Net Profit guidance of €2 billion and the new pay-out based dividend policy.

Our strongest asset is our dedicated employees with their invaluable contributions; their hard work and professionalism are essential to the continued success we are seeing in 2024 and we will be continue to see in the future.”