Poste Italiane stands out as a unique reality in several key aspects, distinguishing it from its peers and as a solid, trusted and effective strategic pillar for the country.
An anti-fragile, platform company and the largest phygital platform in Italy, thriving on the integration of multiple touchpoints and creating an omnichannel ecosystem where each portion of the platform complements the others. Financial stability, an increasingly sustainable business model and a generous dividend policy are fundamental values.
12,755 Post Offices in every corner of the country, often where no other trusted institution can be found.

Around 49,000 third-party network touchpoints lead to almost 25 million daily interactions with our 46 million clients.
Poste Italiane's business extends far beyond traditional postal services. With diversified revenue streams in financial services, insurance, logistics, payments, mobile and broadband connections as well as a retail gas and electricity offer, we have built a robust product that mitigates risks associated with fluctuations in any single sector. This diversification ensures steady revenue generation and shields the company from economic downturns.

1. Includes direct and indirect employment;
2. % of the population within 5 min. (or 2.5km) of a Pick-Up & Drop-off point (incl. Post Offices);
3. 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”)

Poste Italiane has consistently  over-delivered on key targets. Every single year over the course of the last seven years.
We have demonstrated our nature of being a truly antifragile company: we have always adapted to a rapidly evolving operating context, transforming challenges into opportunities.

Through strategic initiatives, operational efficiency and customer-centric innovations, Poste Italiane consistently delivers strong financial results, driving shareholder value and market outperformance.

In 2024 we posted a record revenue of € 12.59 billion, record adjusted EBIT at € 2.96 billion, almost three times the 2017 level and net profit at € 2 billion, two years ahead of plan and fully aligned with our updated guidance.

Poste Italiane has consistently exceeded market expectations, demonstrating its ability to outperform amid evolving market conditions. Through strategic initiatives, operational efficiency enhancements, and customer-centric innovations, the company consistently delivers strong financial results, driving shareholder value and market outperformance.

 

2024 Adjusted EBIT¹ c.3X 2017 EBIT – Net Profit 2 years ahead of plan²
Strong Adjusted EBIT growth driven by steady revenue progression and operating leverage

	2017	2023	2024	2017/24 CAGR
Revenues 3	10.57	11.99	12.59	+3%
Adjusted Ebit 1	1.12	2.62	2.96	+15%
Net profit	0.69	1.93	2.01	+17%
DPS (€)	0.42	0.80	1.08	+14%

Achieved

Overachieved

<sup>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.</sup>

We are accelerating our digital journey across the platform.
In 2024, we managed more than 25 million daily customer omnichannel interactions across our platform, totalling 8 billion interactions.
Digital clients continue to grow, reaching 18 million, with digital channels accounting for around 30% of our total transactions and sales.
At the same time, we further improved our customer-experience-index by almost 12 percentage points since 2017, to 35.4%.
Expanding the hybrid client base while enhancing customer experience is essential for strengthening client loyalty and driving cross-selling opportunities.

1. Clients that used a Poste Italiane digital channel;
2. Customers who have at least one on digital channel and one access in UP during the year;
3. CX refers to Customer Experience and is calculated as the average between Net Promoter Score “NPS” (70%) and Customer Effort Score “CES” (30%);
4. App User Stickiness is calculated as daily active users/monthly active users on Poste Italiane’s Apps;
5. Defined as all transactions (e.g. bill payments, bank transfers, etc.) as well as sales (e.g. subscription of financial products), excluding LIS transactions and sales

Since 2016, we have distributed €7 billion to our shareholders. At the same time, market capitalization has increased from around €8 billion at the end of 2016 to over €19 billion.  As a result, total shareholder return has materially outperformed the Italian stock market index.

With a record net profit of €2 billion and an increased payout ratio of 70%, 2024 dividends will amount to €1.4 billion, that’s €1.08 per share, reflecting an impressive 35% year-on-year growth and a 14% average annual growth since 2016.

2024 ORDINARY DPS c.3X 2016 – €7BN¹ CUMULATED DIVIDENDS PAID SINCE 2016
UPGRADED 70% P/O RATIO DIVIDEND POLICY DRIVEN BY STRONG VISIBILITY ON CASH FLOW GENERATION AND CAPITAL OPTIMIZATION

1. Includes final installment of 2024 dividend to be paid, following AGM approval, in June 2025;
2.  Initial target of 0.55 published for 24SI (Mar-21);
3. Initial target of 0.59 published for 24SI (Mar-21), first upgrade at 0.63 published for 24SI PLUS market cap of 2024; 7. Data from 27 October 2015 to 13 February 2025
4. Initial target of 0.62 published for 24SI (Mar-21), first upgrade at 0.68 published for 24SI PLUS (Mar-22), second upgrade at 0.71 published for CMD 2023 (Mar-23);
5. Initial target of 0.92 implied from Net Profit initial guidance of €1.9bn and 65% payout ratio;
6. Calculated on the average
7. Data from 27 October 2015 to 13 February 2025

Revenues will continue to grow steadily, reaching €13.5 billion in 2028, with a positive contribution from all revenue segments.

Adjusted EBIT will grow by approximately 4% in line with the Business Plan, reaching €3.2 billion in 2028.

Thanks to strong visibility on future cash flows and group capital optimization, we are once again upgrading our dividend policy by structurally increasing the payout ratio from 65% to 70% throughout the 2028 plan.


 

KEY FINANCIAL TARGETS
Sustainable profitability and strong cash flow generation supporting enhanced dividend policy

 

€ bn unless otherwise stated	2023	2024	2025	2026	2028	CAGR 23 - 28
REVENUE	11.99	12.59	12.8	12.7	13.5	+c.3%
EBIT	2.62	2.96	3.1	2.9	3.2	+c.4%
NET PROFIT	1.93	2.0	2.1	2.0	2.3	+c.4%
DIVIDEND PER SHARE (€)	0.80	1.08		≥1.0		+c.7%
DIVIDEND PAYOUT	54%	increased from ≥65% to 70%

 

Over the past seven years, we have more than mitigated revenues coming from businesses in structural decline, such as physical mail and payment slips, with €2 billion additional revenues from our fast-growing parcels and payments businesses and solid performance of our financial and insurance activities.

As a result, our business is now perfectly positioned to continue generating sustainable growth, with 80% of our revenues coming from growing and stable markets.
 

1. Other MP&D includes MP&D revenues excluding mail, parcel & logistics

With high confidence in future cash flows and optimized group capital, we are announcing an enhanced dividend policy. This upgrade will result in target cumulative dividends of around € 7.5 billion for the 2024-2028 period, representing 40% of the current market cap, compared to the original target of € 6.5 billion communicated  in March 2024.

The new dividend policy results in a proposed 2024 DPS of € 1.08, marking an impressive 35% increase compared to last year and over-achieving our 2026 target two years ahead of schedule.

As a result, total dividends for 2024 amount to € 1.4 billion, reflecting an outstanding 9% dividend yield.

Once again, we are firmly committed to provide competitive remuneration for our shareholders.

1. 2024-2028 Strategic Plan “The Connecting Platform” presented in March 2024; 
2. Dividend coverage ratio defined as total dividend from subsidiaries/business units divided by dividends to shareholders; 
3. Calculated on the average market cap of 2024