In Q3 Mail, Parcel & Distribution segment revenues came to €843m, slightly down y/y (-0.9%) compared to €851m in the third quarter of 2021 (-1.3% y/y to €2.6bn in 9M-22).
Mail revenues in Q3 were down 2.9% y/y to €483m (-0.6% y/y to €1.5bn in 9M-22), with volumes on higher margin products such as Integrated Services up, partially offsetting a decline in lower margin items such as unrecorded mail.
Mail volumes were down 5.8% y/y in the quarter to 560m items (-3.1% y/y to 1.8bn items in 9M-22) with average prices up 3% (+2.5% y/y in 9M-22), supported by repricing actions.
In the third quarter of 2022, Parcel revenues recovered to €328m, +4.5% y/y (-2.6% y/y to €991m in 9M-22), mainly as a result of higher B2C volumes, up 15.5% y/y to 44m items (-3.6% y/y to 125m items in 9M-22) – recording a growth of 24 p.p. compared to the same period of 2020 – with decreasing tariffs due to volumes’ mix effect. In the 9 months parcel tariffs are up 4% y/y. In Q3 B2B volumes were down 14.3% y/y to 8m items (-12.6% y/y to 27m items in 9M-22) and C2X volumes were down 7.6% y/y to 1.1m items (-20.1% y/y to 3.5m items in 9M-22).
In the third quarter of 2022, Distribution revenues were €1.2bn, -3.5% y/y (+2.5% y/y to €3.7bn in 9M-22).
In Q3-22 Segment EBIT was positive at €13m, decreasing by 83.4% compared to €79m in the third quarter of 2021, due to a different timing of active portfolio management. 9M-22 EBIT rose markedly to €155m from €-21m in 9M-21.