In Q3 Payments and Mobile revenues continued to grow by a strong 36.6% y/y to €405m (+44.2% y/y to €1.1bn in 9M-23), confirming the role played by PostePay as leader in the fast-growing and evolving digital payments environment in Italy.
Q3-23 Card payments reached €187m up 20.7% y/y (+28.5% y/y to €519m in 9M-23) thanks to increasing usage from the structural cash-to-card shift and the LIS consolidation contribution (+€17m additional revenues). Furthermore, higher recurring margin Evolution cards, whose total stock stands, at the end of September, at 9.9 million cards (up 5.8% y/y) supported the trend.
E-commerce transactions continue the upward trend in the first nine months of the year to 510m (+18.8% y/y).
In Q3 Other payments recorded a strong growth of 59.9% reaching €94m (+103.4% y/y to €274m in 9M-23), mainly thanks to payment transactions directly managed by PostePay as Payment Service Provider and the LIS contribution (€29m additional incremental revenues).
Telco revenues were up 4.5% y/y to €83m in Q3 (+4.5% y/y to €247m in 9M-23), supported by our solid customer base of 4.8 million users and the fibre offer.
The Poste Energia retail energy offer, launched in June 2022, contributed with €41m in the quarter (€82m in the first nine months of the year), reaching over 400,000 subscriptions.
PosteID (Poste Italiane’s National Digital ID solution) in 9M-23 has now been adopted by 24.1m clients (+2.5% y/y vs 9M-22).
In Q3 EBIT was up 17.1% y/y to €118m (+17.6% y/y to €317 in 9M-23) driven by revenue growth and LIS contribution more than offsetting energy business start-up costs.