The Board of Directors of Poste Italiane S.p.A. (“Poste Italiane” or the “Group”), chaired by Maria Bianca Farina, approved 9M 2022 Financial Results (unaudited).
- Q3-22 Ebit at €663m, +17.1% y/y (+27.2% y/y to €2.1bn in 9m-22), above fy-22 original guidance, with positive contributions from all segments.
- Q3-22 net profit at €461m, +15.0% y/y (+21.4% y/y to €1.4bn in 9m-22).
- Strong net inflows of €5.9bn in 9m-22 on saving and investment products – TFAs to €562bn impacted by market effect for €25bn.
Matteo Del Fante, Poste Italiane CEO and General Manager, commented:
“Thanks to continued business momentum across all Group divisions and the successful implementation of 24SI Plus, Poste Italiane has delivered yet another solid financial performance in the third quarter, with revenues strongly rising year-on-year and a record EBIT for the nine months of the year, almost doubling that of 2017.
The key to our success relies on enabling growth engines within each business unit, combined with a continued cost discipline, providing additional flexibility to adapt to a changing macro context.
We are very proud of our achievements in the Mail, Parcel & Distribution division, where, in a challenging market environment, parcel volumes’ recovery in Q3 combined with lower costs contributed to positive EBIT for the third quarter in a row.
Financial Services revenues were stable in the quarter thanks to the recurring contribution from Net Interest Income, benefitting from the favourable interest rates environment.
Insurance Services revenues recorded a remarkable double-digit growth with solid contribution from both life and non-life products.
Payments & Mobile revenues strongly increased with double digit growth, supported by card payments with the Group already leveraging on LIS consolidating PostePay’s leadership within the payment business and accelerating Group omnichannel strategy.
On the basis of these solid results and confident that our ‘24SI’ Plan implementation is progressing, we upgraded our 2022 EBIT guidance.
We are now expecting operating profit for 2022 to reach €2.3 billion, compared to our original target of €2.0 billion, reflecting the strong performance year-to-date and enabling us to distribute an interim dividend of €0.21 per share. Our long-term vision is supported by the commitment of our employees and the successful execution of our 24SI Plan.
Poste Italiane is well positioned to continue to deliver, even in a complex market environment.”