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Poste Italiane: the largest phygital platform in Italy

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.

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.

12,659 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 27 million daily interactions with our 46 million clients.

At the heart of this strategy, the SuperApp offers a single point of digital access to the Group’s entire range of products and services: with 16 million downloads and more than 4 million daily active users, Poste Italiane App 'P' is now Italy’s leading App.

Since 2016, we have returned €9 billion euros to our shareholders. Over the same period, our market capitalization increased over 3 and a half times, from approximately €8 billion at the end of 2016 to over €30 billion today. This means that our total shareholder return has materially outperformed the Italian market index by 2 and a half times.

With a record net profit of €2.22 billion, dividends for 2025 amounted to €1.6 billion or €1.25 euro per share. This represents a remarkable 21% average annual growth since 2020.

Impacts generated by Poste Italiane

Through its leadership in the logistics, financial, insurance and payment services sectors, Poste Italiane plays a key role in the creation of economic value both for the stakeholders directly impacted by its business activities and for the country as a whole.

In particular, the activities carried out by Poste Italiane generate impacts on GDP, employment income, employment and contributions to the Publica Administration. The estimated impacts include:

  • direct impacts: impacts generated by the operating activities carried out directly by Poste Italiane;
  • indirect impacts: impacts generated along the supply chain as a result of Poste Italiane's spending on goods and services (€4.2 billion in 2025) from Italian suppliers;
  • induced impacts: impacts generated by consumer spending that is realised through the income earned by workers employed directly and indirectly by the Group.

In 2025, the Poste Italiane Group had an impact on the country's economy, in terms of Gross Domestic Product (GDP), of around €14 billion and, employed a total of approximately 182,000 people and contributed around €2.6 billion in tax revenue to the Public Administration. Furthermore, it is estimated that Poste Italiane contributed directly and indirectly to the distribution of income to workers, totaling over €7 billion.

Poste Italiane's creation of value is based on the contribution that the Group's individual people make through their daily work and commitment. Indeed, during 2025, each Poste Italiane person contributed to the creation of economic impacts for the territory amounting to €115,000 of GDP, €59,000 of income for families, €22,000 of tax contributions and the employment of 1.5 people.

The integration of physical and digital presence allows Poste Italiane to strengthen its relationship with customers, increases their loyalty and generates new business opportunities as a reference platform serving citizens, businesses and public administration.

Megatrends

The megatrends influencing Poste Italiane are shaped by a complex global context marked by several significant factors – including technological innovation and artificial intelligence, environmental sustainability, demographic and social shifts and the evolution of payment systems – by embedding them into its strategy to ensure resilience, sustainable growth and long-term value creation.

Infrastructure Investments

The Group is strengthening its Cloud and Edge Computing capabilities to support a national-scale omnichannel platform currently managing 27 million customer interactions per day.

The Artificial Intelligence Committee was also established, chaired by the General Manager, which is dedicated to evaluating, approving, and overseeing the use of Artificial Intelligence across the Group, ensuring that applications are in line with the Company's strategic objectives and comply with applicable ethical, regulatory, and legal standards, promoting the adoption of safe, transparent, and traceable technology that protects fundamental citizen rights and European values.

Polis Project

As part of the National Plan for Investments Complementary to the NRRP, the Group has continued to implement the Project 'Polis – homes for digital citizenship services', a strategic project to support the social cohesion of the country that involves approximately 7,000 municipalities throughout the National Territory with a population of less than 15 thousand inhabitants, in which the Post Office is transformed into a one-stop shop for public administration. The project also envisages the creation of 250 coworking spaces nationwide, 80 of them in municipalities with less than 15,000 inhabitants, and the implementation of numerous initiatives to support the country's energy transition by 2026. By 31 December 2025, 4,849 Post Offices had been completed and reopened and 160 co-working sites had been completed.

Regarding public administration services, operations are continuing with plans to extend the passport application service at all Polis Post Offices during 2026.

Addressing Evolving Consumer Needs

The ongoing demographic and social transformations offer the Group a range of strategic opportunities, enabling it to respond to evolving consumer needs, strengthen its value proposition, and enhance its social and territorial impact: increased business opportunities due to changes in consumer needs, based on meeting the needs of the more mature population; increased demand for life and P&C; insurance products; possibility of implementing staff welfare and well-being plans (e.g. promoting active parenthood) in order to increase labour market attractiveness; possibility of accessing funds and contributions for the realisation of initiatives benefiting peripheral urban areas, also taking advantage of the widespread presence in Italy that allows for visibility of the products and services offered throughout the country.

Cashless Acceleration

During 2025, numerous functionalities were introduced and consolidated to make payment and financial transactions through digital channels easier, faster and safer: ntroduction of instant and free permanent and deferred bank transfers, with the option of changing maximum amounts and automatic verification of correspondence between IBAN and beneficiary, in line with European legislation that came into force on 9 October 2025.

Our approach to sustainability

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Our approach to Sustainability

Market overview by business area

The postal market continues to undergo a period of change linked to the digital transformation, which, on the one hand, leads to a continuous structural decline in traditional mail volumes, stimulating the emergence and development of new digital communication markets (e-substitution), and, on the other hand, to an increase in the volume of parcels sent thanks to the growth of e-commerce, also enabling synergies for the proposal of end-to-end solutions within Contract Logistics.

The performance of the Mail services recorded by the Group in 2025 showed a drop in volumes of 9.2% (-193 million items), with decline in revenue of 2.9% (-€62 million) compared to 2024. This trend is attributable to a different product mix, with lower drop in volumes of some higher-value products compared to products with a lower unit value, to repricing actions on some products not belonging to the Universal Service as well as to the effect of the tariff manoeuvre effective from 31 March 2025.

In 2025, the parcels and logistics segment recorded growth in both volumes (+41 million shipments, equal to +13.3%) and revenue (+€149 million, equal to +9.4%) compared to the previous financial year. E-commerce continued to be the strategic business segment with the highest growth compared to 2024, mainly due to the contribution of large customers and the second hand; growth in international shipments compared to 2024 is also noted, due to the strategic partnership with the DHL group.

During 2024, financial market conditions were on the whole favourable, also due to the easing of monetary policies by the FED and ECB, despite a phase of significant turbulence at the beginning of August, which affected the equity markets in particular, but which has since largely subsided. The main triggers were fears of a recession in the US, the publication of disappointing quarterly balance sheet data by some technology companies, and the impact of monetary tightening by the Bank of Japan on the currency market. These phenomena have largely subsided following the publication of reassuring macroeconomic data on the US economy.

Macro-economic evolution with a mix of mild inflation, stable and slightly lower rates is creating a benign environment for growing savings and investments fees and improving visibility on our investment portfolio revenue stream.

Clients are changing habits when dealing with financial transactions and management of their wealth so it’s necessary to develop an omnichannel service model to address these changes for instance, our SuperApp will help clients to have seamless experiences with Poste Italiane and ensure we have everything they want in one place.

In 2024, the market in the Investment and Pension business continued to be affected, albeit to a more limited extent, by the still high interest and inflation rates, although the disinflationary trend continued; this uncertainty was reflected in particular in the increase in lapses relating mainly to Class III products.

At 31 December 2024, the lapse rate was 6.6%, up from 4.4% at 31 December 2023, and significantly lower than the market lapse rate recorded at 31 December 2024, which was 10.39%.

As regards the protection products market, the total premiums of the Italian direct portfolio, thus including the production carried out in our country by Italian companies and the representations of foreign ones, based on the latest official data available, amounted to € 35.5 billion at the end of September 2024, an increase of 8.8% compared to the same period in 2023, of which € 14.1 billion related to the motor protection sector, €19.7 billion to the non-motor protection sector and the remainder (€ 1.7 billion) to premiums from Life protection products.

As far as distribution channels are concerned, the agency channel remains the leader with a market share of 71.0% at the end of September 2024 (equal to the figure recorded at the end of the first quarter of 2023).

The mobile telephone market is generally stable in terms of the stock of Human-to-Human (H2H) SIMs compared to the end of 2023 (78.5 million of H2H SIMs) (+0.2%) at 78.6 million. In particular, the number of SIM cards of virtual operators (Mobile Virtual Network Operators - MVNOs) continues to grow (+6.6% compared to the end of 2023), while the stock of incumbent operators continues to decline (-1.0% compared to the end of 2023). Poste Mobile, which accounts for 32% of MVNOs, recorded slight growth (+1.4% of H2H SIMs compared to December 2023) with a market share of 5.5% in September 2024 (+0.1% compared to December 2023).

The energy market in 2024 was characterised by the full liberalisation for gas as of 10 January 2024 and electricity as of 1 July 2024. The operators, through targeted promotions and communication campaigns, tried to steer as many potential customers onto their free market offer, also soliciting those who had already made this choice in the past, resulting in higher switch rates.

The gas market, given the strong growth in the trade of Liquefied Natural Gas (LNG) by ship, has increasingly taken on an international scale, guaranteeing greater diversification and at the same time being influenced by the international geopolitical and economic context, which also in the second half of 2024 remained complex due to: the various wars and tensions (Ukraine, Israel, Syria, Iran, etc.), the uncertainties linked to the evolution of Asian energy demand and the trade dynamics between the United States of America and the rest of the world. In addition, during 2024, weather phenomena proved to be important factors in the volatility of gas and electricity prices in the European market, such as winter cold spells or summer heat waves, wind intensity for wind power plants, availability of water in reservoirs, etc., as a result of the increasing contribution of renewable sources in the energy mix, sources that are linked to the variability of weather conditions.

2025 Record Financial Results with Adjusted EBIT and Net Profit ahead of plan

In 2025, Poste Italiane recorded the best results in our history despite an international scenario marked by geopolitical and economic uncertainties and accentuated market volatility.

 All business areas contributed to the achievement of the targets, thanks to solid business dynamics, strict cost discipline and consistent returns on the investment portfolio.

Revenue reached an all-time high of €13.1 billion, the adjusted operating profit (EBIT) reached a record level of €3.24 billion and net profit stood at €2.22 billion.

 202420252026
Revenues (€ billion)12.5913.1213.5
Adjusted EBIT (€ billion)2.963.243.4
Net profit (ex TIM stake) (€ billion)2.012.222.3
DPS (€ cents)1.081.25 
Dividend payout (%)70%73%>70%*
  • *Applied to Net Profit ex. TIM stake.