Since 2017, we have generated 4.5 billion of capital, building a fortress balance sheet while being able to fund significant organic and inorganic growth as well as distributing 4 billion in dividends.
As a result, we have a shareholder’s equity in excess of 11 billion with an effective allocation, ready to support growth across business units.
SIGNIFICANT ACHIEVEMENTS FOR ALL STAKEHOLDERS SINCE 2017
1. Shareholders equity net of revaluation reserves and taking into consideration the dividend proposed for 2022: 2. Other includes the coupon on the hybrid bond, the purchase of options for minority acquisitions, gains/losses on TFR , reserve variation related to incentive schemes and buyback; 3. Net of capital gains, excluding Net Insurance
Group results 2015-2022 (KPI)
| 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | CAGR (2022 vs 2015) | |
|---|---|---|---|---|---|---|---|---|---|
| Revenues (€m) | 30,739 | 10,643 | 10,629 | 10,864 | 11,038 | 10,526 | 11,220 | 11,889 | +1.9% |
| EBIT (€m) | 880 | 1,041 | 1,123 | 1,499 | 1,774 | 1,524 | 1,846 | 2,291 | +14.1% |
| Net Profit (€m) | 552 | 622 | 689 | 1,399 | 1,342 | 1,206 | 1,580 | 1,511 | +15.9% |
| Investments (€m) | 488 | 451 | 467 | 538 | 734 | 680 | 754 | 810 | +10.3% |
| Total Financial Assets (€bn) | 476 | 493 | 506 | 514 | 536 | 569 | 586 | 562 | +2.2% |
| DPS (€) | 0.34 | 0.39 | 0.42 | 0.44 | 0.46 | 0.49 | 0.59 | 0.65 | +8.9% |
€bn unless otherwise stated
|
Profitability trajectory supporting enhanced dividend policy |
||||||
|---|---|---|---|---|---|---|
| 2021 | 2022 (Original 24SI Target) | 2022 Guidance Upgrade | 2023 (Guidance Update) | 2024 | 2022 Guidance Upgrade vs Original 24SI Target | |
| Revenues | 11.2 | 11.6 | 11.7 | 11.9 | 12.7 | +1% |
| EBIT | 1.85 | 1.9 | 2.0 | 2.5 | 2.2 | +9% |
| Net Profit | 1.33 | 1.3 | 1.4 | 1.7 | 1.6 | +9% |
| Investments |
|
n.a. | ||||
| Total Financial Assets |
|
c. 3% | ||||
| DPS (€) | c. 0.59 +21% VS. 2020 58% PAYOUT 1 |
|
+7% |
|||
1. Corresponding to 60% of underlying net profit of €1.2bn (excluding the revaluation of SIA stake of €0.3bn)
2. For 2022 +10%, 2023 +9%
Segment results 2016-2022
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | CAGR 2017-2022 | |
|---|---|---|---|---|---|---|---|---|
| NET OPERATING REVENUE | 10,643 | 10,629 | 10,864 | 11,038 | 10,526 | 11,220 | 11,889 | +2.3% |
| Mail, Parcel & Distribution | 3,822 | 3,631 | 3,580 | 3,492 | 3,201 | 3,685 | 3,651 | 0.1% |
| Payments Mobile & Digital | 570 | 586 | 592 | 664 | 737 | 882 | 1,147 | 14.4% |
| Financial Services | 5,009 | 4,956 | 5,221 | 5,213 | 4,945 | 4,783 | 4,939 | -0.1% |
| Insurance Services | 1,242 | 1,456 | 1,470 | 1,669 | 1,643 | 1,870 | 2,153 | 8.1% |
| EBIT | 1,041 | 1,123 | 1,499 | 1,774 | 1,524 | 1,846 | 2,291 | +15.3% |
| Mail, Parcel & Distribution | (436) | (517) | (430) | (347) | (588) | (301) | (326) | -8.8% |
| Payments Mobile & Digital | 213 | 195 | 204 | 241 | 259 | 282 | 379 | 14.2% |
| Financial Services | 660 | 646 | 859 | 874 | 866 | 747 | 887 | 6.5% |
| Insurance Services | 604 | 799 | 866 | 1,006 | 988 | 1,119 | 1,350 | 11.1% |
| NET PROFIT | 622 | 689 | 1,399 | 1,342 | 1,206 | 1,580 | 1,511 | +17.0% |
| Mail, Parcel & Distribution | (379) | (502) | (372) | (306) | (419) | (226) | (361) | -6.4% |
| Payments Mobile & Digital | 144 | 146 | 153 | 272 | 194 | 425 | 270 | 13.1% |
| Financial Services | 465 | 499 | 617 | 640 | 647 | 556 | 622 | 4.5% |
| Insurance Services | 392 | 546 | 1,001 | 737 | 784 | 824 | 979 | 12.4% |
