Poste Italiane: Year-to-date performance continues to be strong in all segments
Today, Poste Italiane, the 160-year-old postal service provider with the largest distribution network in Italy, engaged in logistics, mail and parcel delivery, financial and insurance services, and payment systems, has approved the results for the first half of 2024.
The notable highlights from the H1 2024 results include:
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A new labour contract was signed in July, enhancing logistics, distribution, and cost base visibility.
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H1-24 revenues reached €6.2 billion, showing a 7.3% year-on-year growth; Q2-24 revenues were €3.1 billion, an 8.7% year-on-year increase.
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H1-24 adjusted EBIT was €1.5 billion, a 14.2% year-on-year growth, with net profit exceeding €1.0 billion.
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Mail and parcel revenues saw the highest year-on-year growth since listing, driven by strong parcel volumes and a favorable mail mix.
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Financial services revenues were driven by record net interest income, and PostePay services saw increased revenues from digital payments, e-commerce, and the energy business.
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The adjusted EBIT guidance for 2024 has been upgraded to €2.8 billion, supported by strong performance in core areas.
Commenting on the results, Matteo Del Fante, Poste Italiane Chief Executive Officer and General Manager stated: “Our anti-fragile, phygital business model designed for sustainability has proven itself again with these excellent results. Year-to-date performance continues to be strong in all segments with a further acceleration of positive trends in Q2-24. As always, we remain focused on continuing to deliver, with discipline, as we progress on the execution of the Connecting Platform business plan.”