In Q3-25 Mail, Parcel & Distribution revenues were €934m, up 2.7% (€2.8bn in 9M-25, up 1.6% y/y). Q3-25 Mail revenues were at €480m down 3.3% y/y (€1.5bn in 9M-25, -4.0% y/y), reflecting expected lower volumes and mitigated by ongoing repricing actions.
Parcel & Logistics revenues recorded outstanding growth of 9.6% y/y to €420m in Q3-25 (€1.2bn in 9M-25, +8.4% y/y), supported by strong parcel volumes growth (+14.1% y/y in Q3-25 to 87 million items; +12.3% y/y to 245 million items in 9M-25), with improving customer diversification. In Q3-25 the average parcel tariff is down 2.6% y/y, while in the first nine months of the year is down 2.2%, reflecting higher volumes with lower pricing and unit cost (second hand and returns on alternative delivery points).
Parcels delivered by “Postini” reached 45% in Q3-25, up 5% y/y. Q3-25 Distribution revenues were at €1.4bn up 1.5% y/y (€4.2bn in 9M-25, +3.1% y/y),
reflecting positive commercial trends. Q3-25 Segment Adjusted EBIT was at €70m (€137m in 9M-25) and in line with FY-25 guidance.
