2024 Financial Results
We have constantly over-delivered on our key targets. Every single year since we started our transformation journey back in 2017 with a simple ambition: to maximise value for our clients and be the most effective and trusted distribution network in Italy.
We achieved record-breaking revenues of € 12.6 billion, record adjusted EBIT at € 2.96 billion, almost three times the 2017 level and net profit at € 2.01 billion, two years ahead of plan2 and fully aligned with our updated guidance.
Poste Italiane remains a strategic pillar for Italy, playing a key role in the country’s economic and social development.
We achieved record-breaking revenues of € 12.6 billion, record adjusted EBIT at € 2.96 billion, almost three times the 2017 level and net profit at € 2.01 billion, two years ahead of plan2 and fully aligned with our updated guidance.
Poste Italiane remains a strategic pillar for Italy, playing a key role in the country’s economic and social development.
| € bn unless otherwise stated |
|
|
|
|
|---|---|---|---|---|
| REVENUES2 | 10.57 | 11.99
|
12.59
|
+3%
|
| EBIT | 1.12 | 2.62
|
2,.6
|
+ 15%
|
| NET PROFIT 3 | 0.69 | 1.93
|
2.01
|
+17%
|
| DPS (€) | 0.42 | 0.80
|
1.08 proposal
|
+14%
|
Achieved |
Overachieved |
1. Adjusted excluding systemic charges related to insurance guarantee fund (€74m for 2024) and costs and proceeds of extraordinary nature (€341m for 2024 of extraordinary costs related to tax credit Voluntary Risk Assessment “VRA”);
2. 2024-2028 Strategic Plan “The Connecting Platform” presented in March 2024;
3. Revenues are restated net of commodity price and pass-through charges related to the energy business. 2017 revenues are restated net of interest expenses and capital losses on investment portfolio
Group Results 2017-2024
| € billion unless otherwise stated |
|
|
|
|
|
|
|
|
|---|---|---|---|---|---|---|---|---|
| Revenues (€m) | 10.57 | 10.82 | 10.96 | 10.53 | 11.22 | 11.37 | 11.99 |
12.59 |
| EBIT (€m) | 1.12 | 1.5 | 1.77 | 1.52 | 1.85 | 2.4 | 2.62 |
2.96 |
| Net Profit (€m) | 0.69 | 1.4 | 1.34 | 1.21 | 1.58 | 1.58 | 1.93 |
2.01 |
| DPS (€) | 0.42 | 0.44 | 0.46 | 0.49 | 0.59 | 0.65 | 0.8 |
1.08 |
Overachieved
Growing results since 2017
| € billion unless otherwise stated | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | CAGR 2017-2024 |
|---|---|---|---|---|---|---|---|---|---|
| NET OPERATING REVENUE | 10,572 | 10,819 | 10,960 | 10,526 | 11,220 | 11,374 | 11,989 | 12,589 | +2.5% |
| Mail, Parcel & Distribution | 3,632 | 3,580 | 3,492 | 3,201 | 3,695 | 3,651 | 3,746 | 3,843 | +0.8% |
| Postepay Services | 532 | 592 | 664 | 737 | 882 | 1,134 | 1,447 | 1,585 | +16.9% |
| Financial Services | 4,953 | 5,176 | 5,135 | 4,945 | 4,783 | 4,939 | 5,229 | 5,521 | +1.6% |
| Insurance Services | 1,456 | 1,470 | 1,669 | 1,643 | 1,861 | 1,650 | 1,567 | 1,640 | +1.7% |
| EBIT | 1,123 | 1,499 | 1,774 | 1,524 | 1,846 | 2,396 | 2,620 | 2,961 | +14.9% |
| Mail, Parcel & Distribution | (517) | (430) | (347) | (588) | (301) | (326) | (43) | 104 | - |
| Postepay Services | 194 | 203 | 241 | 259 | 282 | 379 | 440 | 529 | +15.4% |
| Financial Services | 646 | 859 | 874 | 866 | 747 | 887 | 863 | 900 | +4.9% |
| Insurance Services | 799 | 866 | 1,006 | 988 | 1,119 | 1,445 | 1,360 | 1,429 | +8.7% |
| NET PROFIT | 689 | 1,399 | 1,342 | 1,206 | 1,580 | 1,583 | 1,933 | 2,013 | +16.6% |
| Mail, Parcel & Distribution | (502) | (372) | (306) | (419) | (226) | (361) | (46) | (88) | -22.0% |
| Postepay Services | 146 | 153 | 272 | 194 | 425 | 270 | 338 | 394 | +15.2% |
| Financial Services | 499 | 617 | 640 | 647 | 556 | 622 | 647 | 674 | +4.4% |
| Insurance Services | 546 | 1,001 | 737 | 784 | 824 | 1,051 | 994 | 1,033 | +9.5% |