Poste Italiane ended 2022 with record-breaking numbers, achieving an operating result (ebit) that increased by 24.1% to € 2.3 billion (an all-time high). The news was picked up and commented on by all the national newspapers.
The results of Poste in the press
Corriere della Sera reports in its headline the words with which Poste Italiane CEO Matteo Del Fante greeted the results: “Solid foundations for the future”. The article points out that net profit stands at 1.51 billion, down (-4.3%) from 2021, but up by 119% compared with 2017, when profits were EUR 689 million. Thanks to this comparison, it is possible to take stock of Del Fante’s two terms at the helm of Poste. That is why the 2022 budget summary shows the group’s progression compared to 2017: on the revenue side, it marks a 12.5% growth six years, with the operating margin increasing by 104%. According to Il Sole 24 Ore, the figures show growing revenues in all business segments, with the exception of the mail and parcel sector, which is affected by a slower growth in e-commerce than in the past two years. Total revenues are up by 6% to EUR 149 billion compared to the end of 2021. The operating result was EUR 2.29 billion, up 24.1% from the previous year (EUR 1.8 billion). The CEO, the business newspaper continued, was keen to point out that the Ebit was more than double that of 2017 and higher than the guidance of the strategic plan announced then, which forecast an Ebit of 2 billion at the end of 2022. La Repubblica, in an article entitled “Poste closes 2022 by raising its turnover and coupons”, specified how net profit doubled compared to 2017 and was affected by “a mix of factors that made taxation different and more penalising, in addition to the need to set aside 320 million on loans linked to the superbonus”.
The individual areas
Il Messaggero focused on the individual business areas: in the mail business, revenues were essentially stable at EUR 3.7 billion (-1.2%), “with the historical decline in mail” continuing to be partly offset by the growth in parcels. The segment closed the year with an increased loss to EUR 361 million. Financial service revenues, on the other hand, increased by 3.9% to EUR 5.8 billion, benefiting from the rise in interest rates, and net profit also rose (+12% to EUR 622 million). As for insurance services, Poste reported revenues up 15.7% to EUR 2.2 billion with a net profit of EUR 979 million (+19%). In the payments and mobile area, turnover jumped by 30% to EUR 1.1 billion, but profit fell by 36% to EUR 270 million.
The Poste coupons
La Stampa, too, emphasised the coupon increase in its headline, while the article reporting Matteo Del Fante’s statements for 2023: “we expect favourable business trends to outweigh the effect of inflation on costs. We believe that our targets are achievable under various market conditions, in light of the strong commercial progress to date”. In the Libero piece dedicated to the issue, we read instead how, in light of the excellent results achieved, the board proposed an upwardly revised dividend of EUR 0.65 (+10%), also supported by the great financial performance and greater visibility on 2023.
Poste Energia
Most of the press also devoted space to Poste Energia. Business newspaper Italia Oggi, in particular, pointed out that the new energy offer, which has been active with the public since January, is finding favour with customers, with 150,000 contracts signed at the end of March: it has contributed EUR 12.1 million to 2022 revenues, and will rise to EUR 200 million this year. Finally, Il Giornale emphasised the transformation of the group from a traditional logistics operator to an omnichannel distribution platform: mobile, payments, parcels and letters, financial services, insurance, energy.
