Poste Italiane Q1: overall group revenues over €3 billion

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 quarter of 2024.

The notable highlights from the Q1-24 financial results of Poste Italiane include:

– Q1-24 revenues increased by 6% year-on-year (Y/Y) to €3.05 billion.

– Operating profit grew by 14% Y/Y to €706 million.

– Net profit reached €501 million, up 16% Y/Y.

– Dividend balance of €0.56 per share to be paid at the end of June 2024 (€729 million total dividends).

– On track to meet CMD 2024 financial and shareholders’ remuneration targets.

Commenting on the results, Matteo Del Fante, Poste Italiane Chief Executive Officer and General Manager stated: ” It’s been a strong start to the year with overall group revenues over €3 billion, with all segments contributing and in line with our strategy. These results demonstrate how we are executing, in a disciplined way, against our plan, with a continued focus on delivering commercial results and on cost discipline. Commercial trends have been supportive in all businesses as customers continue to see Poste Italiane as the safe haven for their savings and the “go to” place for the majority of their daily needs. Positive net flows in asset management and insurance products along with resilient retail deposits are the proof.”