Record 9m-26 revenues of €10.2bn, up 5% y/y (€3.3bn in q3-26, +4% y/y), driven by growth across all businesses. Continued profit momentum, with 9m-26 adjusted ebit at €2.7bn, up 7% y/y (€910m in q3-26, +6% y/y) and adjusted net profit at €1.8bn, up 4% y/y (€629m in q3-26, +4% y/y). Strong €4.5bn investment inflows, reflecting improving commercial trends across financial and insurance products - tfa at €614bn. Solid solvency ii ratio at 269% including the accrual of a 100% remittance to the parent company – demonstrating resilience to sharp spread widening and rates increase.
Tim balance sheet consolidation as of 30 september 2026: pro-forma leverage below 1.5x – p&l consolidation starting from october 1. Fy-26 standalone upgraded guidance of €3.4bn adjusted ebit and €2.3bn adjusted net profit confirmed. interim dps up 7.5% to €0.43; total interim dividend up 32% to €686m reflecting the enlarged share count following completion of the tim offer – payment on 25 november.
TIM integration update: combining Poste Italiane’s unparalleled physical and digital network with tim's connectivity and tech infrastructure, creating an unmatched ai-powered connecting platform and tech leader
≥€0.7bn run-rate synergies confirmed, including at least €0.5bn of cost synergies by 2028 and over €0.2bn of ebit from incremental revenues from 2029 – quick wins on both costs and commercial initiatives.
Launched pilot Fincantieri ontology project for physical ai in shipbuilding on Poste Italiane and TIM platforms. Full management focus on tim integration and combined entity business plan to be released in q1-27.
Matteo Del Fante, Poste Italiane Chief Executive Officer commented: “Following an outstanding first half, I am pleased to report another record performance, with the strongest third quarter and nine-month results in our history. All businesses contributed to robust revenue growth of 5% to €10.2 billion, while Adjusted EBIT increased 7% to almost €2.7 billion, supported by profitable growth and continued cost discipline. Adjusted Net Profit reached €1.8 billion.
Commercial momentum remains strong. Investment inflows reached €4.5 billion since the beginning of the year, also thanks to the implementation of our new commercial service model, while Total Financial Assets reached €614 billion. Building on this performance, we confirm our upgraded 2026 stand-alone guidance of €3.4 billion Adjusted EBIT and €2.3 billion Adjusted Net Profit.
A growing dividend remains central to our strategy. On November 25, we will pay an interim dividend of €0.43 per share, up 7.5% on last year. In absolute terms, this amounts to €686 million, up 32% year-on-year, reflecting the higher share count following the TIM offer completion. We reaffirm our clear commitment to a compelling and growing dividend policy going forward.
In the quarter, Mail, Parcel and Distribution revenues grew 3%, supported by market share gains across parcel customer segments, contract logistics expansion and mail repricing. Financial Services revenues increased 2% to €1.4 billion, driven by solid investment portfolio revenues and commercial momentum. Insurance Services delivered strong profitability in both Life Investment & Pension and Protection segments, revenues rose 13% to half-a-billion euro, reflecting stable CSM and higher release in life and improved combined ratio in protection. Postepay Services reported solid top-line growth across payments and energy and stable telco business, with revenues up 6% to €435 million.
With TIM now part of the Group, our focus is firmly on execution and value creation. We are combining Poste Italiane’s unparalleled physical and digital reach, customer base and trusted platform with TIM’s connectivity and tech infrastructure to build Italy’s leading AI-powered connecting platform.
Integration is progressing at pace, with around 200 people working across nine joint workstreams led by a dedicated integration management office. We confirm at least €0.7 billion of run-rate synergies, with no impact from TIM’s listed minorities, and early quick wins across procurement, funding, real estate and commercial initiatives, including the launch of TIMVision/Fiber offering for Poste Italiane employees and friends & family in October 2026, the upcoming addition of TIMVision to our SuperApp and the opening of the first TIM shop-in-shops in landmark post offices. We will present the business plan for the combined Group in the first quarter of 2027.
Poste Italiane and TIM together have the scale, reach and technology to lead Italy’s digital transformation while strengthening the country’s technological independence. We are Italy’s connecting platform, creating value for our clients, our people, our country and our shareholders.
I am particularly proud of the pilot Fincantieri Ontology Project, a landmark project bringing physical AI into Fincantieri’s shipyards. By combining Fincantieri’s industrial know-how with the technology capabilities of Poste Italiane and TIM Enterprise, we will enable AI agents to understand and act on real-world industrial knowledge. This pioneering project is an important validation of our AI and data platforms by an external company, leader in its space, and a major step forward in our ambition to lead Italy’s digital transformation and AI adoption.
Finally, I would like to thank all our colleagues for their dedication and professionalism. Their expertise, commitment and ability to embrace change will be fundamental as we build the next chapter of our Group: stronger, more innovative and increasingly connected.”
