In Q3-23 Mail, Parcel & Distribution revenues were up 1.9% y/y to €860m (+4.0% y/y to €2.8bn in 9M-23).
Mail revenues are growing, up 0.7% y/y to €486m (+0.6% y/y to €1.5bn in 9M-23). In the quarter, mail volumes were down 9.0% y/y (-6.5% y/y in 9M-23). Average prices up (+9.7%) in the quarter and up 8.0% in the first nine months of the year, offsetting the structural decline in lower-margin unrecorded items.
Parcel revenues posted growth of 1.5% y/y to €333m in Q3 (+0.1% y/y to €992m). In the third quarter Parcel tariffs were down 0.8% (0.2% in the first nine months of the year), as a result of different product mix.
Other revenues in Q3 were up 24.3% y/y to €41m (+65.1% y/y to €244m in 9M-23), driven by the contribution from recent M&A activities.
In Q3 B2C volumes were up 11.7% y/y to 49m items (+10.3% y/y to 138m items), thanks to a revived contribution from China; B2B volumes were down 3.7% y/y to 8m items (-9.9% y/y to 24m items), and C2X volumes up 4.2% y/y to 1.1m items (+1.8% y/y to 3.6m items).
In 9M-23 Postini delivered 62 million parcels, up 28.2% y/y.
Distribution revenues in Q3 were up 1.8% y/y to €1.2bn (+5.3% y/y to €3.9bn), thanks to resilient commercial trends.
Segment EBIT was down in Q3-23 and amounted to -€93m from €13m in Q3-22, a result of the one-off bonus for our employees of €1,000 per head, equivalent to a total cost for the Group of €140 million, €90 million of which booked in this quarter and the rest in Q4. 9M-23 EBIT stable at -0.9% y/y to €154m.
