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Poste Italiane: fy-25 Preliminary Results & 2026 Strategy updateThe Board of Directors of Poste Italiane S.p.A. chaired by Silvia Maria Rovere, met yesterday and approved the consolidated 2025 Results, prepared in compliance with IAS/IFRS and the 2026 Strategy update.

Rome, 26 Feb 2026 07:15

RECORD 2025 GROUP REVENUESAT €13.1BN, UP 4% Y/Y

HIGHEST EVER RECORDED PROFITABILITY WITH ADJUSTED EBIT2 AT €3.2BN, UP 10% Y/Y AND NET PROFIT AT €2.2BN3, UP 10% Y/Y, IN LINE WITH UPDATED 2025 GUIDANCE AND AHEAD OF 2024-28 PLAN TARGET

PARCEL & LOGISTICS REVENUE GROWTH ACROSS ALL CUSTOMER SEGMENTS - NUMBER ONE PARCEL OPERATOR WITH 349 MILLION ITEMS DELIVERED IN 2025

FINANCIAL SERVICES REVENUES UP 3% Y/Y TO €5.7BN IN FY-25, DRIVEN BY INVESTMENT PORTFOLIO AND SOLID COMMERCIAL PERFORMANCE

INSURANCE SERVICES REVENUES SUPPORTED BY BOTH LIFE AND PROTECTION, THE LATTER WITH GWP UP 21% YEAR-ON-YEAR TO €1.2BN

POSTEPAY SERVICES CONFIRMING SOLID REVENUE AND EBIT GROWTH - OVER 1 MILLION ENERGY CLIENTS

PROPOSED FY-25 DPS OF €1.25, UP 16% Y/Y, FOR A TOTAL DISTRIBUTION OF €1.6BN. 73% PAY-OUT RATIO - BALANCE OF €0.85 P/S (€1.1BN TOTAL) TO BE PAID4 IN JUNE 2026

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TIM’S LARGEST LONG-TERM STRATEGIC SHAREHOLDER REACHING 27.3%5 OF ORDINARY SHARES, SEVERAL INITIATIVES ONGOING TO GENERATE SYNERGIES

SUPERAPP AS THE #1 ITALIAN APP WITH >4M6 DAILY ACTIVE USERS AND 16M OVERALL USERS

ARTIFICIAL INTELLIGENCE KEY GROWTH ACCELERATOR FOR THE POSTE ITALIANE PLATFORM, SUPPORTING FURTHER REVENUE GROWTH AND SUSTAINABLE COST EFFICIENCIES 

UNMATCHED MARKET NETWORK WITH THE BROADEST DISTRIBUTION AND SERVICE CAPABILITIES – NEW COMMERCIAL SERVICE MODEL ON TRACK, BOOSTED BY ONGOING HUB & SPOKE RECONFIGURATION

LAUNCHED GROUP REORGANIZATION TO CREATE A NEW FINANCIAL HUB BRINGING TOGETHER PAYMENTS AND BROADER FINANCIAL SERVICES TO FURTHER REINFORCE CLIENT-CENTRIC STRATEGY

***

2026 GROWTH TRAJECTORY CONFIRMED: ADJUSTED EBIT GUIDANCE OF >€3.3BN AND NET PROFIT OF €2.3BN (EXCLUDING TIM STAKE)

REINFORCED DIVIDEND POLICY: >70% PAYOUT APPLIED TO POSTE ITALIANE NET PROFIT (EXCLUDING TIM STAKE), PLUS TIM DIVIDEND PASS-THROUGH ON A CASH-FOR-CASH BASIS

NEW MULTI-YEAR PLAN TO BE PRESENTED BY THE END OF 2026


 
2025 GROUP FINANCIAL HIGHLIGHTS
  • FY-25 RECORD GROUP REVENUES1 AT €13.1BN, UP 4.2% Y/Y (€3.5BN IN Q4-25, +3.5% Y/Y), SUSTAINED BY SOLID COMMERCIAL PERFORMANCE FROM SAVINGS & INVESTMENT PRODUCTS, INVESTMENT PORTFOLIO RETURNS AND CONTINUED COST DISCIPLINE:
    • MAIL, PARCEL & DISTRIBUTION EXTERNAL REVENUES AT €3.9BN IN FY-25, + 2.7% Y/Y (€1.1BN IN Q4-25, + 5.6% Y/Y).
    • FINANCIAL SERVICES EXTERNAL REVENUES AT €5.7BN IN FY-25, +2.9% Y/Y (€1.4BN IN Q4-25, -1.8% Y/Y).
    • INSURANCE SERVICES EXTERNAL REVENUES AT €1.8BN IN FY-25, +11.3% Y/Y (€0.5BN IN Q4-25, +14.3% Y/Y).
    • POSTEPAY SERVICES EXTERNAL REVENUES1 AT €1.7BN IN FY-25, +5.1% Y/Y (€0.5BN IN Q4-25, +6.3% Y/Y).
  • FY-25 TOTAL COSTS7,9 AT €10.8BN, DOWN 0.1% Y/Y (€3.0BN IN Q4-25, -8.1% Y/Y).
    • FY-25 ORDINARY HR COSTS8 AT €5.6BN, UP 1.3% Y/Y (€1.4BN IN Q4-25, -1.9% Y/Y), REFLECTING HIGHER FTE’S AND VARIABLE COMPENSATION.
    • FY-25 NON-HR COSTS7,9 TO €4.7BN, UP 5.3% Y/Y (€1.3BN IN Q4-25, +5.4% Y/Y) AS A RESULT OF HIGHER BUSINESS GROWTH AND TRANSFORMATION.
  • FY-25 ADJUSTED EBIT AT A RECORD LEVEL OF €3.24BN, UP 9.6% Y/Y, IN LINE WITH UPDATED 2025 GUIDANCE.
  • FY-25 NET PROFIT AT €2.22BN3, UP 10.3% Y/Y.
  • GROUP CLIENT TFAs REACHED €600BN, UP €10BN10 FROM DECEMBER 2024: €2.5BN POSITIVE INVESTMENT PRODUCTS NET FLOWS. POSTAL SAVINGS OUTFLOWS IMPROVED Y/Y, THANKS TO STRONG PERFORMANCE OF POSTAL BONDS AND INITIATIVES TO ATTRACT NEW LIQUIDITY.
  • STRONG CAPITAL POSITION: BANCOPOSTA TOTAL CAPITAL RATIO AT 23.1% (OF WHICH CET1 RATIO AT 19.8%), LEVERAGE RATIO AT 3.2% AND POSTE VITA GROUP SOLVENCY II RATIO AT 304%, ABOVE MANAGERIAL AMBITION OF AROUND 200% THROUGH THE CYCLE.
 
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RISULTATI DI GRUPPO 2025
  • I RICAVI1 DI GRUPPO A LIVELLI RECORD E PARI A € 13,1 MILIARDI, IN CRESCITA DEL 4,2% ANNO SU ANNO (€ 3,5 MILIARDI NEL QUARTO TRIMESTRE DEL 2025, +3,5% ANNO SU ANNO), SOSTENUTI DA UNA SOLIDA PERFORMANCE COMMERCIALE NEI PRODOTTI DI RISPARMIO E INVESTIMENTO, DAI RENDIMENTI DEL PORTAFOGLIO INVESTIMENTI E DALLA CONTINUA RAZIONALIZZAZIONE DEI COSTI:
    • RICAVI DA TERZI DI CORRISPONDENZA, PACCHI E DISTRIBUZIONE PARI A € 3,9 MILIARDI NELL’ESERCIZIO 2025, +2,7% ANNO SU ANNO       (€ 1,1 MILIARDI NEL QUARTO TRIMESTRE DEL 2025, +5,6% ANNO SU ANNO).
    • RICAVI DA TERZI DEI SERVIZI FINANZIARI PARI A € 5,7 MILIARDI NELL’ESERCIZIO 2025, +2,9% ANNO SU ANNO (€ 1,4 MILIARDI NEL QUARTO TRIMESTRE DEL 2025, -1,8% ANNO SU ANNO).
    • RICAVI DA TERZI DEI SERVIZI ASSICURATIVI PARI A € 1,8 MILIARDI NELL’ESERCIZIO 2025, +11,3% ANNO SU ANNO (€ 0,5 MILIARDI NEL QUARTO TRIMESTRE DEL 2025, +14,3% ANNO SU ANNO).
    • RICAVI DA TERZI1 DEI SERVIZI POSTEPAY PARI A € 1,7 MILIARDI NELL’ESERCIZIO 2025, +5,1% ANNO SU ANNO (€ 0,5 MILIARDI NEL QUARTO TRIMESTRE DEL 2025, +6,3% ANNO SU ANNO).
  • I COSTI TOTALI7,8 DELL’ESERCIZIO 2025 SONO PARI A € 10,8 MILIARDI, IN DIMINUZIONE DELLO 0,1% ANNO SU ANNO (€ 3,0 MILIARDI NEL QUARTO TRIMESTRE DEL 2025, -8,1% ANNO SU ANNO).
    • I COSTI ORDINARI DEL PERSONALE8 DELL’ESERCIZIO 2025 SONO PARI A € 5,6 MILIARDI, IN CRESCITA DELL’1,3% ANNO SU ANNO (€ 1,4 MILIARDI NEL QUARTO TRIMESTRE DEL 2025, -1,9% ANNO SU ANNO), DOVUTI AD UN PIÙ ALTO NUMERO DI FTE E AD UNA MAGGIORE RETRIBUZIONE VARIABILE.
    • COSTI NON-HR7,9 DELL’ESERCIZIO 2025 PARI A € 4,7 MILIARDI, IN CRESCITA DEL 5,3% ANNO SU ANNO (€ 1,3 MILIARDI NEL QUARTO TRIMESTRE DEL 2025, +5,4% ANNO SU ANNO), PER EFFETTO DELLA CRESCITA DEL BUSINESS E DELLA TRASFORMAZIONE.
  • RISULTATO OPERATIVO (EBIT) ADJUSTED A LIVELLI RECORD NEL 2025 E PARI A € 3,24 MILIARDI, IN CRESCITA DEL 9,6%, ANNO SU ANNO, IN LINEA CON LA GUIDANCE AGGIORNATA PER IL 2025.
  • UTILE NETTO DELL’ESERCIZIO 2025 PARI A € 2,22 MILIARDI3, IN CRESCITA DEL 10,3% ANNO SU ANNO.
  • LE ATTIVITÀ FINANZIARIE INVESTITE (AFI) DEI CLIENTI DEL GRUPPO HANNO RAGGIUNTO € 600 MILIARDI, IN CRESCITA DI € 10 MILIARDI10 DA DICEMBRE 2024: RACCOLTA NETTA POSITIVA DI € 2,5 MILIARDI NEI PRODOTTI DI INVESTIMENTO. LA RACCOLTA NETTA DEL RISPARMIO POSTALE È MIGLIORATA ANNO SU ANNO, GRAZIE ALLA PERFORMANCE SOLIDA DEI BUONI POSTALI E ALLE INIZIATIVE PER ATTRARRE NUOVA LIQUIDITÀ.
  • POSIZIONE PATRIMONIALE SOLIDA: TOTAL CAPITAL RATIO DI BANCOPOSTA PARI AL 23,1% (DI CUI CET1 RATIO PARI AL 19,8%), LEVERAGE RATIO PARI AL 3,2% E SOLVENCY II RATIO DEL GRUPPO ASSICURATIVO POSTE VITA AL 304%, BEN AL DI SOPRA DELL'AMBIZIONE MANAGERIALE PARI A CIRCA IL 200% NELL’ARCO DI PIANO.
 

1 Revenues are presented net of commodity price and pass-through charges of the energy business.
2 Adjusted excluding systemic charges related to insurance guarantee fund (€18m for Q4-24 and €74m for FY-24, €20m for Q4-25 and €78m for FY-25) and costs and proceeds of extraordinary nature (€341m charge related to tax credit Voluntary Risk Assessment “VRA”).
3 Net Profit of €2,220m excluding TIM stake, Net Profit of €2,235m including €16m of TIM stake equity valuation and related Purchase Price Allocation (PPA) adjustments.
4 Ex-dividend date 22 June 2026.
5 20.1% pro-forma for the conversion of savings shares.
6 Average of December 2025
7 Numbers are presented net of commodity price and pass-through charges of the energy business.
8 Before the application of IFRS 17.
9 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.
10 Including assets derived from Cronos Vita Assicurazioni S.p.A. (ex Eurovita).

 
***
 
FY-25 PRELIMINARY RESULTS & 2026 STRATEGY UPDATE
2026 GROUP FINANCIAL TARGETS
 
FY-25 (€m)
FY-26 (€bn)
REVENUES* 13,121 13.5
ADJUSTED EBIT** 3,245 >3.3
NET PROFIT (ex. TIM stake)*** 2,220 2.3
DPS (€)**** 1.25  
DIVIDEND PAYOUT 73% >70%

* Revenues are restated net of commodity price and pass-through charges of the energy business.
** Adjusted excluding systemic charges related to insurance guarantee fund (€18m for Q4-24 and €74m for FY-24, €20m for Q4-25 and €78m for FY-25) and costs and proceeds of extraordinary nature (€341m charge related to tax credit Voluntary Risk Assessment “VRA”).
*** Accounting Net Profit of €2,235bn including €16m from TIM stake and related PPA adjustments.
**** Proposed DPS.
 

 
KEY NUMBERS:
  • REVENUES: 2026 GUIDANCE OF €13.5BN VS. €13,121M IN 2025 DEMONSTRATING SUSTAINABLE ORGANIC GROWTH AND A RESILIENT TRAJECTORY.
  • ADJUSTED EBIT: 2026 GUIDANCE HIGHER THAN €3.3BN VS €3,245M IN 2025.
  • NET PROFIT (EX-TIM STAKE): 2026 GUIDANCE OF €2.3BN VS €2,220M IN 2025.
  • REINFORCED DIVIDEND POLICY: >70% PAYOUT APPLIED TO POSTE ITALIANE NET PROFIT (EX. TIM STAKE), PLUS TIM DIVIDEND PASS-THROUGH ON A CASH-FOR-CASH BASIS (APPROXIMATELY €100M EXPECTED CASH DIVIDEND IN 2027, IN ADDITION TO STAKE ACCRETION FROM THE RECENTLY ANNOUNCED TIM SHARE BUY BACK OF UP TO €400 MILLION).

 
POSTE ITALIANE CREATES VALUE FOR ALL STAKEHOLDERS BY EMPOWERING ITS PEOPLE AS A KEY DRIVER OF SUSTAINABLE SUCCESS
 
2025 KEY RESULTS:
  • Through the Polis Project, Poste Italiane has reinforced its nationwide presence and its role in supporting social cohesion and digital inclusion in local communities and rural areas. By year-end, 4,849 post offices have been transformed into digital service hubs and 160 co-working spaces have been created. Over 190,000 public administration services were provided, including more than 140,000 passports, improving access for citizens in both small and major cities.
  • Poste Italiane has been certified as a ‘Top Employer’ for the seventh consecutive year, confirming its position as Italy’s leading employer, thanks to its ongoing commitment to fostering a corporate culture grounded in participation, innovation and long-term shared value creation.
  • Poste Italiane has been included in the ‘LinkedIn Top Companies 2025’ ranking, placing it among the 25 best employers for career development opportunities in Italy. This recognition highlights the Group’s focus on skills development, professional growth and its ability to attract and retain talent.
  • Employee engagement continues to be a cornerstone of the Group’s ESG strategy through ‘INSIEME’. The company-wide initiative open to all employees, which in its third edition, gathered more than 27,000 voluntary contributions in support of the Group’s ESG Strategy.
  • Poste Italiane received the ‘Dyslexia Friendly Company’ recognition awarded by the Italian Dyslexia Association (AID), thanks to a project developed by a team of employees within the ‘INSIEME’ initiative.
  • For the first time, Poste Italiane received, the UNI/PdR 159:2024 certification for its inclusive employment policies supporting people with disabilities; the UNI/PdR 125:2022 and UNI ISO 30415 certifications were also confirmed, recognising the Group’s commitment to gender equality and diversity.
  • The corporate welfare programme has reached a new record of approximately 50,000 participants (+22% vs. 2024). Through continuous dialogue with its employees, Poste Italiane has further expanded its comprehensive welfare system enhancing the quality of life and overall wellbeing.
  • Poste Italiane’s SuperApp has achieved remarkable success, representing the Group’s single digital access point for products and services. The App’s daily active users have exceeded 4 million and has reaffirmed its position as the leading Italian app. Among this year’s new features is the “Donate Now” service, leveraging our digital channels to support social impact initiatives.
  • Poste Italiane received the Digital Sustainability Award 2025, promoted by the Digital Sustainability Foundation. The Group’s client-centric approach to artificial intelligence enhances the accessibility of customer support services through biometric voice recognition.
  • Initiatives to reduce CO emissions from delivery operations have progressed and Poste Italiane stands out for its excellence in road safety standards. As of the end of December, our last mile delivery fleet included around 30,000 low-emission vehicles (of which 6,230 are full electric). The first green corridor for parcel delivery, powered by a 100% electric road fleet became operational. During the year, Poste Italiane was awarded the highest rating – three stars – in the FIA Road Safety Index.
  • Further progress was made in improving building energy efficiency and expanding renewable energy generation. Also, thanks to the Polis Project, the number of sites equipped with smart-building solutions rose to 4,320, while more than 870 photovoltaic systems have been installed for a total capacity of 29 MWp.
  • Poste Italiane confirms its commitment to sustainable finance. In line with its objective of maintaining 100% of its investments offering aligned with environmental and/or social characteristics, Poste Vita launched six new insurance investment products during the year, combining sustainability principles with diversified financial objectives. BancoPosta Fondi SGR further reinforced its role as a responsible investor by introducing a CO₂ monitoring and mitigation strategy across its Article 8 (SFDR) retail investment products.

The Board of Directors of Poste Italiane S.p.A. chaired by Silvia Maria Rovere, met yesterday and approved the consolidated 2025 Results, prepared in compliance with IAS/IFRS and the 2026 Strategy update.
 
Final approval of the 2025 financial statements by the Board of Directors is foreseen on 17 March 2026, the authorisation date of reporting pursuant to IAS 10 of any events after the closure of the financial year.
The data and information contained in this document is therefore based on provisional estimates, currently under verification, and have not been audited.
 
Matteo Del Fante, Poste Italiane Chief Executive Officer commented:2025 stands out as an exceptional year for Poste Italiane, delivering the strongest results in our history, with record revenues and profitability. Performance across all businesses was robust, driven by solid commercial momentum, disciplined cost management and healthy investment returns.
Revenues reached an alltime high of €13.1 billion, adjusted EBIT rose to a record €3.24 billion and Net Profit amounted to €2.22 billion, in line with our updated guidance.
Our strategic plan continues to make excellent progress, with all key initiatives fully on track, including the rollout of the new commercial service model and the logistics transformation.
Digital engagement and our omnichannel strategy have been further strengthened by the successful migration to the SuperApp, now the number one Italian app with 16 million downloads and over 4 million daily active users. This digital leadership, supported by continued investment in artificial intelligence and data, remains central to our longterm strategy enabling us to innovate continuously to anticipate and meet clients’ evolving needs.
We have launched a Group re-organisation bringing together our payments and financial services businesses. The new Financial Hub will enhance client centricity, accelerate timetomarket, optimize capital and strengthen crossselling, efficiency and growth, maximizing the value of our platform for sustainable value creation. This is underpinned by our unrivalled network, now fully operating “at market”, with unparalleled distribution and service capabilities.
We continue to work closely with TIM to unlock longterm synergies. As TIM’s largest strategic shareholder, we have contributed to stabilizing governance and unlocking strategic priorities, supporting future value creation and sustainable shareholder returns.
Since 2016, we have returned almost €9 billion to our shareholders. For full year 2025 we will propose a dividend per share of €1.25, up 16% year-on-year, corresponding to a 73% payout ratio and total distributions of €1.6 billion. This clearly confirms our commitment to delivering sustainable and attractive shareholder returns.
Looking ahead, our 2026 guidance points to an adjusted EBIT higher than €3.3 billion and net profit of €2.3 billion excluding TIM stake contribution. We have reinforced our dividend policy, committing to a payout ratio higher than 70% applied to net profit excluding TIM. To this we will add dividends received from TIM on a cash-for-cash basis.
We remain fully confident in our longterm trajectory, which we will outline in detail in our next multiyear plan to be presented by year-end.
Our people remain our most valuable asset and I want to thank them for their continued hard work and dedication to Poste Italiane’s long-term success.
We remain committed to creating value for all stakeholders - our shareholders, our customers, our employees and the communities we serve.”
 

POSTE ITALIANE
FY-25 PRELIMINARY RESULTS & 2026 STRATEGY UPDATE
Thursday 26 February 2026 - 11:00 CET
 
WEBCAST
To attend click here:
Poste Italiane FY-25 Preliminary Results & 2026 Strategy Update Webcast

 

 
For further information:
 
Poste Italiane SpA Investor Relations                                                                            Poste Italiane - Media Relations                                                 
Tel. +39 06 5958 4716                                                                                                   Mail: ufficiostampa@posteitaliane.it
Mail: investor.relations@posteitaliane.it                                                                         www.posteitaliane.it
www.posteitaliane.it                     
 
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Financial calendar
Next events
 
  • 17 March 2026 - Approval of consolidated financial statements of the Poste Italiane Group, Poste Italiane S.p.A. draft financial statements as at 31 December 2025, the proposed appropriation of profits.
  • 27 April 2026 - Annual General Meeting.
  • 07 May 2026 - Q1-26 Group Results presentation.
  • 24 June 2026 - Payment of the balance of the dividend for 2025, with ex-dividend date 22 June 2026 and record date (i.e. date of dividend payment eligibility) 23 June 2026.
  • 24 July 2026 - Q2 & H1-26 Group Results presentation.
  • 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

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