• TG Poste

Poste Italiane: Q2 & H1-26 Financial Results & Strategy update

Rome, Jul 24, 2026 07:02
Download PDF Download PDF

RECORD H1-26 REVENUES* UP 6% Y/Y TO €6.8BN, WITH HEALTHY GROWTH ACROSS ALL BUSINESS UNITS

RECORD H1-26 PROFITABILITY WITH ADJUSTED EBIT** AT €1.8BN, UP 7% Y/Y AND NET PROFIT AT €1.2BN***, UP 4% Y/Y

STRONG INVESTMENT INFLOWS AT €2.7BN****, CONFIRMING IMPROVED POSTAL SAVINGS COMMERCIAL TRENDS AND STABLE RETAIL DEPOSITS – TFA REACHING €613BN

SOLID GROUP BALANCE SHEET AND INSURANCE SOLVENCY II RATIO AT 303% - IMPROVING MP&D NET FINANCIAL POSITION WITH €894M CASH GENERATED IN H1-26

FY-26 STANDALONE GUIDANCE AND DIVIDEND POLICY CONFIRMED

***

AGREED TERMSHEET ON NEW 2027-2030 POSTAL SAVINGS AGREEMENT WITH CDP, FURTHER ENHANCING VISIBILITY ON FUTURE ECONOMICS

 NEW FINANCIAL HUB SIMPLIFYING GROUP STRUCTURE, REINFORCING CLIENT CENTRICITY AND OPTIMISING CAPITAL

STRENGTHENING NETWORK EFFECTIVENESS THROUGH A HUB & SPOKE MODEL TO IMPROVE COMMERCIAL PRODUCTIVITY, WITH A LANDMARK AGREEMENT WITH UNIONS SIGNED ON JULY 23

SCALING OUR AI-POWERED AND CLIENT-CENTRIC PLATFORM COMPANY TO UNLOCK GROWTH, CROSS-SELLING AND EFFICIENCY ACROSS THE GROUP – TO BE ENHANCED BY TIM

***

TIM BOARD DEEMED OFFER FAIR FROM A FINANCIAL POINT OF VIEW AND SUPPORTED STRATEGIC RATIONALE

TIM TENDER OFFER PERIOD FROM 20 JULY TO 11 SEPTEMBER 2026

COMBINED ENTITY BUSINESS PLAN IN Q1-27

  • H1-26 REVENUES* AT €6.8BN, +5.9% Y/Y (€3.4BN IN Q2-26, UP 3.9% Y/Y):
    • MAIL, PARCEL & DISTRIBUTION REVENUES AT €2.0BN IN H1-26, UP 6.4% Y/Y (€1.0BN IN Q2-26, UP 7.0% Y/Y).
    • FINANCIAL SERVICES REVENUES AT €3.0BN IN H1-26, UP 4.4% Y/Y (€1.4BN IN Q2-26, DOWN 1.6% Y/Y).
    • INSURANCE SERVICES REVENUES TO €983M IN H1-26, UP 8.6% Y/Y (514M IN Q2-26, UP 10.9% Y/Y).
    • POSTEPAY SERVICES REVENUES1 AT €860M IN H1-26, UP 7.3% Y/Y (€435M IN Q2-26, UP 7.7% Y/Y).
  • H1-26 TOTAL COSTS***** TO €5.5BN, UP 4.1% Y/Y (€2.8BN IN Q2-26, UP 3.4% Y/Y):
    • H1-26 ORDINARY HR COSTS***** AT €2.9BN, UP 0.9% Y/Y (€ 1.4BN IN Q2-26, UP 0.3% Y/Y), REFLECTING LABOUR AGREEMENT SALARY INCREASE.
    • H1-26 NON-HR COSTS*****,****** TO €2.5BN, UP 10.5% Y/Y (€1.3BN IN Q2-26, UP 10.7% Y/Y), RESULTING FROM HIGHER VARIABLE COSTS FOR BUSINESS EXPANSION.
  • H1-26 ADJUSTED EBIT** AT €1.8BN, UP 6.8% Y/Y (€868M IN Q2-26, UP 0.5% Y/Y), DRIVEN BY HIGHER REVENUES AND CONTINUED COST DISCIPLINE.
  • H1-26 NET PROFIT AT €1.2BN***, UP 3.5% Y/Y (€594M IN Q2-26, UP 3.8% Y/Y).
  • GROUP CLIENT TFAs AT € 613BN, UP €13BN FROM DECEMBER 2025.
  • STRONG CAPITAL POSITION: BANCOPOSTA TOTAL CAPITAL RATIO AT 22.5% (OF WHICH CET1 RATIO AT 19.3%), LEVERAGE RATIO AT 3.2% AND POSTE VITA GROUP SOLVENCY II RATIO AT 303%.

***

POSTE ITALIANE CREATES VALUE FOR ALL STAKEHOLDERS, SUPPORTING ITALY’S DIGITAL AND SUSTAINABLE TRANSITION, WITH PEOPLE AT THE CENTRE. 

KEY ACHIEVEMENTS IN Q2-26:

  • The Polis Project reinforces Poste Italiane’s role in promoting social cohesion and bridging the digital divide in small towns and rural areas across Italy. As of the end of June, 5,825 post offices have been transformed into digital service hubs, making access to public services easier for citizens, while 175 co-working spaces have been created. More than 312,000 Public Administration services, including over 240,000 passports, have been delivered through the post office network.
  • Advancing initiatives to improve the energy efficiency of the Group’s buildings and increase renewable energy production. Also supported by the Polis Project, the number of sites equipped with smart building solutions has increased to approximately 6,700, while around 1,080 photovoltaic systems have been installed, bringing total installed capacity to 31.7 MWp.
  • Poste Italiane ranked first in the Financial Services category of the 2026 ESG Identity Corporate Index, among the top three companies nationwide, reflecting the integration of ESG principles into the Group's strategy, governance and business model.
  • Poste Italiane is the first Italian company to achieve the internationally recognised Certified Age-Friendly Employer (CAFE) certification, thanks to its inclusive workplace policies that promote intergenerational collaboration, continuous skills development and employee wellbeing.
  • The corporate welfare programme exceeded 55,500 participants (+11% vs. 2025) and was further enhanced with new products and services supporting caregivers, young people, vulnerable groups and initiatives to strengthen employees' sense of belonging. 
  • Poste Italiane strengthened its health and safety initiatives by opening five additional next-generation medical facilities across logistics sites, to provide rapid first-aid support in emergencies. Poste Italiane also participated in the Worklimate 3.0 project, promoted by Italy's National Institute for Insurance against Accidents at Work (INAIL) and the Institute for BioEconomy of the National Research Council (CNR-IBE), reinforcing its approach to preventing heat-related risks by integrating climate data into early warning systems and protective measures for employees.
  • Poste Italiane continues its commitment to sustainable finance. Since the beginning of the year, Poste Vita has launched four new insurance investment products, combining sustainability principles with diversified financial objectives. 

Yesterday, the Board of Directors of Poste Italiane S.p.A. (“Poste Italiane” or the “Group”), chaired by Silvia Maria Rovere, approved the first half 2026 Financial Results.

Matteo Del Fante, Poste Italiane Chief Executive Officer commented: “I am proud to announce another record-breaking first half - our fifth consecutive one - with revenues up 6% to €6.8 billion, Adjusted EBIT up 7% to a record €1.8 billion and net profit at an all-time high of €1.2 billion - confirming the strength and resilience of our platform business model.

Strong investment inflows at €2.7 billion*******, improved postal savings commercial trends, coupled with stable retail deposits bringing Total Financial Assets to a remarkable €613 billion.

Revenue momentum remains healthy across all businesses. In Mail, Parcel and Distribution, growth was driven by parcel and logistics, with mail revenues benefitting from repricing actions.

Financial Services revenues continued to grow in the first half to €3.0 billion, supported by a strong investment portfolio and solid commercial activity.

Insurance Services delivered strong performance across both Life, Investment and Pension and Protection with revenues up 9% in the first half to €983 million.

Postepay Services kept up its solid growth across payments, ahead of integration into the new financial hub, as well as in telco and energy.

Today's results are not only a testament to the strength of our business; they also mark the beginning of the next chapter in the evolution of our platform company, with a clear roadmap on key strategic projects and the acceleration on the TIM offer.

We have agreed a termsheet with CDP on the new 2027–2030 Postal Savings Agreement, providing further visibility on future economics.

We are creating a single Financial Hub to simplify the group structure, reinforcing our client-centric approach and optimising capital allocation.

We are reshaping our physical network through a hub-and-spoke model, making it more flexible, more effective and even better equipped to serve millions of customers daily. This is an initiative shaped through years of planning and constructive engagement with union representatives, reflecting both the scale and complexity of the transformation and leading to the signing of a landmark agreement with the unions yesterday.

We are accelerating the evolution of our unique platform company, focused on client needs and powered by best-in-class AI infrastructure. TIM is the perfect fit to further enhance our platform.

On July 18, the TIM Board unanimously deemed the consideration offered fair from a financial point of view and positively assessed the rationale and business prospects of the transaction. The tender offer started on 20 July and will run to 11 September, with a potential re-opening of terms between 21 and 25 September. We expect to present the combined entity business plan in the first quarter of 2027.

We are pursuing this transformation from a position of strength. Our businesses continue to perform well, our execution remains disciplined and the market continues to recognize the value we are creating. This gives us the confidence to reaffirm our FY-26 standalone guidance as well as our dividend policy, reflecting both the resilience of our business model, the quality of our earnings and our commitment to delivering attractive and sustainable returns to shareholders over the long term.

Finally, I want to extend my sincere thanks to our employees for their dedication and professionalism. Their unwavering dedication continues to be central to the success and resilience of our Group.”

*Revenues are restated net of commodity price and pass-through charges of the energy business. See the section “Alternative Performance Indicators” for reconciliation with reported data.

**EBIT is adjusted excluding systemic charges related to insurance guarantee fund and costs and proceeds of an extraordinary nature. With regard to the 2026 financial year, the expense will be recognized on 31 December 2026, in line with the recently enacted relevant legislation. See the section “Alternative Performance Indicators” for reconciliation with reported data.

***Excluding TIM stake contribution (including PPA adjustments). See the section “Alternative Performance Indicators” for reconciliation with reported data.

****Excluding Cronos portfolio run-off.

*****Before the application of IFRS 17.

******Including costs for goods and services, depreciation, amortisation and impairments. Numbers are presented net of commodity price and pass-through charges of the energy business. See the section “Alternative Performance Indicators” for reconciliation with reported data.

*******Excluding Cronos portfolio run-off.

POSTE ITALIANE Q2 & H1 2026 RESULTS & STRATEGY UPDATE
Friday 24 July 2026 - 11:00 CEST

WEBCAST

To attend click here: Poste Italiane Q2 & H1 2026 Results & Strategy Update

A listen only audio conference is also available: +39 02 802 0902      
 
For further information:

Poste Italiane S.p.A. Investor Relations               

Tel. +39 06 5958 4716                                         

Mail: investor.relations@posteitaliane.it                

Poste Italiane S.p.A. Media Relations

Tel. +39 06 5958 2097

Mail: ufficiostampa@posteitaliane.it 

Financial calendar

Next events

  • 12 November 2026 - Q3 & 9M-26 Group Results presentation.
  • 25 November 2026 - Payment of the interim dividend for 2026, with ex-dividend date 23 November 2026 and record date of 24 November 2026. 

To see the press release in full version download pdf