In Q4-23 Mail, Parcel & Distribution segment revenues came to €991m, down by 1.2% compared to the same period of 2022 (€3.7bn in FY-23, +2.6% y/y).
Mail revenues in Q4-23 were down 1.0% y/y to €551m (€2.1bn in FY-23, +0.2% y/y), supported by repricing actions and the improved product mix, mitigating lower volumes, down 5.4% y/y (-6.2% y/y in FY-23). Average prices up 4.4% in the quarter and 6.4% in FY-23.
In Q4-23 Parcel revenues were broadly stable (-0.3% y/y) to €403m (+6% excluding impact of COVID logistics mandate gradual phase-out and one-off effects, mainly related to sennder Italia deconsolidation), and flat in FY-23 (€1.4bn, +0.0% y/y), supported by increasing B2C volumes (64m items in Q4-23, up 17.1% y/y, and 203m items in FY-23, up 12.4% y/y). Revenue growth reached 6% in the quarter, excluding impact of COVID logistics mandate gradual phase-out and one-off effects, mainly related to sennder Italia deconsolidation. In Q4-23, B2B volumes were up 6.1% y/y to 10m items (34m items in FY-23, -5.7% y/y), and C2X volumes stable at 1.5m items, -0.7% y/y (5.0m items in FY-23, +1.1% y/y).
Other revenues in Q4-23 were down 11.6% y/y to €38m (€281m in FY-23, +47.9% y/y).
Distribution revenues in Q4 were up 15.8% y/y to €1.4bn (€5.2bn, +7.9% y/y), mirroring the positive performance of the Financial Services business.
In FY-23 Postini have delivered 90 million items, up 26.9% y/y compared to 71m of the previous year.
Segment EBIT improved considerably in Q4-23, thanks to effective cost discipline and favourable commercial trends, and totaling -€197m from -€481m in Q4-22. FY-23 EBIT up 86.9% y/y to -€43m, while embedding higher early retirement incentives and amounting to €171m (€76m in FY-22).
