Third Quarter 2024 Financial Results
Poste Italiane recently announced 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 forecasts that indicated a turnover of 3.04 billion. EBIT also showed a significant increase, reaching 789 million euros, with an increase of 46.4%
year-on-year.
Performance for the first nine months of 2024
Analyzing the data for the first nine months, Poste Italiane recorded record results, with an adjusted operating result of 2.3 billion euros and a net profit of 1.6 billion euros. These results highlight 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
In financial services, revenues exceeded 4 billion euros, while insurance services saw growth of 8% in the quarter and 7% in the first nine months. This expansion was supported by a stable Life insurance sector and a rapidly growing Protection branch. Postepay services also achieved record results, with revenues of 1.2 billion euros in the first nine months
.
Dividends and future prospects
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, in line with the guidance of a net profit for the whole of 2024 of 2 billion euros. Matteo Del Fante, CEO of Poste Italiane, underlined the company’s commitment to achieving new results and to making progress in the execution of the “Connecting Platform” business plan
.
In conclusion, Poste Italiane’s financial strength and cash generation make it possible to reward shareholders, while maintaining a robust capital position. Del Fante also highlighted the importance of employees, whose commitment is fundamental to the company’s success
.