Higher than expected financial results
Poste Italiane recently published the results for the third quarter of 2024, surprising analysts with a net profit of 569 million euros, up 48.9% compared to the same period of the previous year. Revenues reached 3.06 billion euros, exceeding market forecasts of 3.04 billion. EBIT also showed a significant increase, jumping to 789 million euros, with an increase of 46.4%
year-on-year.
Record performance in the first nine months
Analyzing the first nine months of 2024, Poste Italiane recorded record operating results, with a net profit of 1.6 billion euros and an adjusted operating result of 2.3 billion euros. These data show an underlying growth of almost 20% compared to the previous year. The correspondence, parcel and distribution division made a significant contribution, generating revenues of 2.8 billion euros, thanks to a double-digit increase in parcel volumes
.
Growth in financial and insurance services
Poste Italiane’s financial services exceeded 4 billion euros in revenues, while insurance services showed an 8% growth in the quarter. The stability of the life insurance sector and the rapid expansion of the Protection business have supported these results. In addition, Postepay services reached a record 1.2 billion euros in revenues, highlighting the importance of this segment for the company’s overall growth
.
Dividends and future strategies
Poste Italiane announced a down payment on the dividend of 0.33 euros per share, which will be paid on November 20. This represents an increase of 39% compared to the previous year and is in line with the forecast of a net profit of 2 billion euros for the entire 2024. Matteo Del Fante, CEO of Poste Italiane, emphasized the importance of these results and confirmed the growth strategy through the “Connecting Platform” business plan
.
The company’s financial strength and cash generation make it possible to reward shareholders, while maintaining a robust capital position. Del Fante also highlighted the crucial role of employees, whose commitment is fundamental to the company’s continued success
.