In 2024 gross revenues (including intersegment distribution revenues) were up 5.7% y/y to €6.4bn (€1.7bn in Q4-24, +9.2 % y/y). FY-24 external revenues at €5.5bn, +5.6% y/y (€1.5bn in Q4-24, +7.5% y/y). FY-24 Net Interest Income at €2.5bn, +13.1% y/y (€647m in Q4-24, +13.8% y/y), driven by higher interest rates and proactive portfolio management activity, enabling increased visibility on future portfolio returns. Postal savings’ distribution fees at €1.7bn in FY-24 down 0.8% y/y (€450m in Q4-24, -16.3% y/y). In 2024 Consumer loans’ distribution fees were at a record €236m up 31.2% y/y (€60m in Q4-24, +26.9% y/y), confirming the improving trend with higher volumes and fee margins.
FY-24 transaction banking fees were down 1.9% y/y to €749m (€204m in Q4-24, +7.0% y/y), including some non-recurring items. FY-24 fees from Asset management were up 26.3% y/y to €182m y/y (€40m in Q4-24, +7.7% y/y), driven by higher Assets under Management.
Total Financial Assets reached €590bn in FY-24, up €10bn from December 2023, as Poste Italiane continues to adapt its offer to meet evolving client needs. Net inflows of investment products came in at €5.2bn year to date, driven by record high net inflows in Mutual Funds and positive Life Investments & Pension net flows in a challenging market environment, supported by the launch of new products. FY-24 Adjusted EBIT at €900m, +4.4% y/y (€258m in Q4-24, +20.3% y/y), reflecting positive revenue momentum.
2025 Financial Targets
- Gross Revenues: €6.5bn (2024: €6.4bn) with relevant contribution from Investment portfolio revenues (€2.6bn), resilient in a normalized interest rates scenario; Postal savings fees (€1.7bn) and further growth in consumer loans distribution (€0.3bn).
- Adjusted EBIT: €0.9bn (2024: €0.9bn) reflecting gross revenues trend.
- Net Profit: €0.7bn (2024: €0.67bn).
2025 Operational Objectives
- Continue the full roll-out of the new commercial service model:
o Increase specialised coverage and Financial Advisors’ productivity by refocusing on value added clients (premium and affluent).
o Advanced front-end and advisory tools powered by Gen-AI to be provided to advisors.
- Postal Saving Focus including:
o Working alongside CDP in revamping the Postal Savings offering adapting to the new rates environment.
o Celebrating 150 years of Postal Books and 100 years of Postal Bonds by launching special anniversary products and hosting targeted events.
o Allowing BancoPosta depositors and Postepay cardholders to access “Deposito Super Smart” (time deposit linked to Libretto Smart) through a streamlined process.
