In Q1 Payments and Mobile segment revenues continued to grow by an impressive 48.2% y/y to €343m, with LIS generating €68m incremental contribution in Q1-23 and PostePay confirming the role played as leader in the fast-growing and evolving digital payments environment in Italy.

Card payments climbed to €162m up 35.2% y/y thanks to (i) increasing usage and transaction value, (ii) LIS consolidation contribution (+€23m additional revenues), (iii) continuing increase of higher recurring margin Evolution cards, whose total stock stands at the end of March at 9.6 million cards (up 11% y/y).

E-commerce transactions continued the upward trend in the first three months of the year to 166.2m from 140.2m, up 18.6% y/y.

In Q1 Other payments recorded a strong growth reaching €87m, more than doubled in the quarter y/y (€35m in Q1-22) mainly thanks to (i) payment transactions directly managed by PostePay as Payment Service Provider and (ii) LIS contribution (€46m additional incremental revenues).

Telco revenues were up 2.9% y/y to €79m in Q1, benefitting from a loyal customer base of 4.9 million users with a low churn rate in a competitive market.

The new energy offer, launched in June 2022 for Poste’s employees and retirees and now publicly available to market, contributed with €15m revenues in Q1-23 with a total number of about 200 thousand contracts signed as of today.

PosteID (Poste Italiane’s National Digital ID solution) in Q1-23 has now been adopted by 24.2m clients (+8% vs Q1-22).

In Q1 EBIT was up 14% y/y to €89m driven by revenue growth and LIS contribution more than offsetting energy business start-up costs, net of which EBIT reached the record high level of €108m.