Rome, 8 May 2025 10:30
STRONG START TO 2025 ACROSS ALL BUSINESSES
RECORD FIRST-QUARTER GROUP REVENUES AND PROFITABILITY
Q1-25 REVENUE1 UP 5% Y/Y TO €3.2 BILLION
Q1-25 ADJUSTED EBIT2 AT €796M, UP 13% Y/Y,
NET PROFIT AT €597M3
STRONG NET INFLOWS IN INVESTMENT PRODUCTS CONFIRMING POSITIVE TREND IN LIFE INVESTMENTS & PENSION
SOLVENCY II RATIO AT 305%, INCLUDING IMPACT OF €500M ADDITONAL REMITTANCE
SOLID GROUP BALANCE SHEET AND STRONG CAPITAL POSITION:
DIVIDEND BALANCE OF €0.75 PER SHARE TO BE PAID ON 25 JUNE 20254
ACQUIRED 24.8% ORDINARY SHARES OF TIM5 AS A LONG-TERM INDUSTRIAL SHAREHOLDER, SUPPORTING VALUE CREATION AND ITALIAN TELECOMMUNICATIONS MARKET CONSOLIDATION
SIGNED MOU FOR NEW MVNO CONTRACT STARTING FROM JANUARY 2026
WORKSTREAMS IN PLACE TO GENERATE SYNERGIES BETWEEN POSTE ITALIANE AND TIM
WELL ON TRACK TO DELIVER 2025 FINANCIAL AND SHAREHOLDERS’ REMUNERATION TARGETS
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POSTE ITALIANE CONTINUES TO CREATE VALUE FOR ALL STAKEHOLDERS, RECOGNISING HUMAN CAPITAL AS A KEY PILLAR OF SUSTAINABLE SUCCESS
Today, the Board of Directors of Poste Italiane S.p.A. (“Poste Italiane” or the “Group”), chaired by Silvia Maria Rovere, approved First Quarter 2025 Financial Results (unaudited).
Matteo Del Fante, Poste Italiane Chief Executive Officer commented: “In our Strategy Update in February we outlined 2025 targets and confirmed our strong commitment to generate substantial profitability growth and deliver compelling shareholders’ remuneration.
We are pleased to report a very strong start to the year across the board, with a record breaking first-quarter revenues and profitability, with double-digit year-on-year EBIT growth. These results are yet another demonstration of the solidity of our business model, disciplined execution and our continued ability to adapt and grow in a dynamic environment. We remain confident in our ability to achieve our 2025 targets and continue delivering strong results going forward.
All business units contributed to a solid 5% year-on-year revenue growth, totalling €3.2 billion. This performance was driven by strong Net Interest Income, continued momentum in parcels, strong net inflows in investment products and Postepay Services ecosystem growth.
We have posted record first-quarter results in terms of profitability with adjusted EBIT at €796 million, up 13% year-on-year and Net Profit of €597 million, up a remarkable 19% on last year.
Mail, Parcel & Distribution revenues were up, supported by parcel revenue growth across customer segments and mail trends in line with guidance.
Financial Services delivered strong results, driven by record-level Net Interest Income and solid commercial performance.
Insurance Services posted strong profitability in both the Life investment and Pension and Protection segments. Revenues rose 11% in the quarter, reflecting higher CSM release and Risk adjustment release.
Postepay Services unique and integrated ecosystem of everyday services continues to deliver growth in both revenues and profitability. Our energy business client base grew to around 800,000 clients, almost doubling from last year.
Our rock-solid group balance sheet supports our upgraded dividend policy and is a clear commitment to creating long-term value for our stakeholders and is confirmed with our dividend balance of €0.75 per share, equivalent to a total dividend balance of around €970 million, to be paid to our shareholders at the end of June, bringing the total dividend for the year to €1.4 billion, equivalent to €1.08 per share.
We signed an agreement to acquire from Vivendi 15% of TIM’s ordinary shares - a transaction that is expected to close in Q2-25 – bringing our total stake in TIM to 24.8% of the voting capital. With this long-term strategic investment in place we plan to support the consolidation of the Italian telecommunications market. We are advancing on several workstreams to generate synergies between Poste Italiane and TIM. We have signed a Memorandum of Understanding with TIM for a new contract to grant Postepay access to TIM’s mobile network infrastructure starting from January 1, 2026.
Finally, I want to extend my extreme gratitude to all our dedicated employees whose hard work, commitment and professionalism are key to the strong results we continue to achieve.”
POSTE ITALIANE Q1-25 RESULTSRECORD FIRST-QUARTER GROUP REVENUES AND PROFITABILITY
Q1-25 REVENUE1 UP 5% Y/Y TO €3.2 BILLION
Q1-25 ADJUSTED EBIT2 AT €796M, UP 13% Y/Y,
NET PROFIT AT €597M3
STRONG NET INFLOWS IN INVESTMENT PRODUCTS CONFIRMING POSITIVE TREND IN LIFE INVESTMENTS & PENSION
SOLVENCY II RATIO AT 305%, INCLUDING IMPACT OF €500M ADDITONAL REMITTANCE
SOLID GROUP BALANCE SHEET AND STRONG CAPITAL POSITION:
DIVIDEND BALANCE OF €0.75 PER SHARE TO BE PAID ON 25 JUNE 20254
ACQUIRED 24.8% ORDINARY SHARES OF TIM5 AS A LONG-TERM INDUSTRIAL SHAREHOLDER, SUPPORTING VALUE CREATION AND ITALIAN TELECOMMUNICATIONS MARKET CONSOLIDATION
SIGNED MOU FOR NEW MVNO CONTRACT STARTING FROM JANUARY 2026
WORKSTREAMS IN PLACE TO GENERATE SYNERGIES BETWEEN POSTE ITALIANE AND TIM
WELL ON TRACK TO DELIVER 2025 FINANCIAL AND SHAREHOLDERS’ REMUNERATION TARGETS
***
- Q1-25 REVENUES1 TO €3.2BN, INCREASING 5.0% Y/Y:
- MAIL, PARCEL & DISTRIBUTION SEGMENT REVENUES AT €949M IN Q1-25, UP 1.6% Y/Y, WITH ROBUST PARCEL REVENUE GROWTH ACROSS CUSTOMER SEGMENTS.
- FINANCIAL SERVICES REVENUES AT €1.4BN IN Q1-25, UP 5.5% Y/Y, SUPPORTED BY HIGHEST EVER QUARTERLY NII AND SOLID COMMERCIAL PERFORMANCE.
- INSURANCE SERVICES REVENUES AT €442M IN Q1-25, UP 11.3% Y/Y, REFLECTING POSITIVE NET INFLOWS AND STRONG PROFITABILITY IN LIFE INVESTMENT AND PENSION AND PROTECTION.
- POSTEPAY SERVICES REVENUES1 AT €398M IN Q1-25, UP 5.0% Y/Y, DRIVEN BY TRANSACTION VALUE GROWTH AND ENERGY BUSINESS, SUPPORTED BY A HIGHER CUSTOMER BASE.
- Q1-25 TOTAL COSTS1,6 TO €2.6BN, UP 4.6% Y/Y:
- Q1-25 ORDINARY HR COSTS6 AT €1.4BN, UP 2.6% Y/Y REFLECTING HIGHER FTEs AND VARIABLE COMPENSATION.
- Q1-25 NON-HR COSTS6,7 TO €1.1BN, UP 5.8% Y/Y, RESULTING FROM HIGHER VARIABLE COSTS FOR BUSINESS EXPANSION.
- Q1-25 ADJUSTED2 EBIT REACHED €796M, UP 12.8% Y/Y DRIVEN BY HIGHER REVENUES AND CONTINUED COST DISCIPLINE.
- GROUP CLIENT TFAs AT €596BN, UP OVER €5BN FROM DECEMBER 20248, SUPPORTED BY €1.6BN NET INFLOWS IN INVESTMENT PRODUCTS IN Q1-25, CONFIRMING POSITIVE TRENDS IN LIFE INVESTMENTS & PENSION.
- STRONG CAPITAL POSITION: BANCOPOSTA TOTAL CAPITAL RATIO AT 23.2% (OF WHICH CET1 RATIO AT 19.9%), LEVERAGE RATIO AT 3.3% AND POSTE VITA GROUP SOLVENCY II RATIO AT 305%.
POSTE ITALIANE CONTINUES TO CREATE VALUE FOR ALL STAKEHOLDERS, RECOGNISING HUMAN CAPITAL AS A KEY PILLAR OF SUSTAINABLE SUCCESS
KEY ACHIEVEMENTS IN Q1-25:
- The Polis Project, supporting social cohesion and bridging the digital divide in small municipalities and rural areas. As of the end of March, Poste Italiane has transformed 3,359 post offices into digital service hubs, simplifying the lives of citizens and created 82 co-working spaces. Over 65 thousand public administration services have been provided, including more than 33 thousand passports.
- The "Poste Delivery Business" offer has been enhanced with a new and innovative green feature – the Emissions Tracker – enabling clients to easily, accurately and transparently monitor the environmental impact of their shipments.
- PostePay and Scalapay signed an agreement to deliver a “Great Shopping Experience”. The partnership combines PostePay’s “everyday platform” and wide range of products and services with Scalapay’s leadership in “Buy Now, Pay Later”, creating a new, simple and innovative deferred payment service to meet the growing demand for flexibility among retail clients.
- The third edition of “INSIEME Connecting Ideas” concluded with the award for three projects. Since the launch of our employee engagement programme, nearly 100,000 contributions have been collected, demonstrating strong participation and collaboration in delivering the Group’s ESG Strategy.
- Our corporate welfare programme has been expanded with new services. Poste Italiane continues to invest in employee wellbeing as our people are a key driver of the Group’s growth, competitiveness and innovation.
- Poste Italiane has been included among the “LinkedIn Top Companies 2025”, as one of the 25 best companies for career growth in Italy.
- Poste Italiane has won the “Sustainability Report Award” in the “Large Companies” category for the second year in a row, promoted by Corriere della Sera in collaboration with NeXt – Nuova Economia per Tutti. The award recognises the quality of Poste Italiane’s non-financial reporting and the integration of ESG principles into its business activities and processes.
Today, the Board of Directors of Poste Italiane S.p.A. (“Poste Italiane” or the “Group”), chaired by Silvia Maria Rovere, approved First Quarter 2025 Financial Results (unaudited).
Matteo Del Fante, Poste Italiane Chief Executive Officer commented: “In our Strategy Update in February we outlined 2025 targets and confirmed our strong commitment to generate substantial profitability growth and deliver compelling shareholders’ remuneration.
We are pleased to report a very strong start to the year across the board, with a record breaking first-quarter revenues and profitability, with double-digit year-on-year EBIT growth. These results are yet another demonstration of the solidity of our business model, disciplined execution and our continued ability to adapt and grow in a dynamic environment. We remain confident in our ability to achieve our 2025 targets and continue delivering strong results going forward.
All business units contributed to a solid 5% year-on-year revenue growth, totalling €3.2 billion. This performance was driven by strong Net Interest Income, continued momentum in parcels, strong net inflows in investment products and Postepay Services ecosystem growth.
We have posted record first-quarter results in terms of profitability with adjusted EBIT at €796 million, up 13% year-on-year and Net Profit of €597 million, up a remarkable 19% on last year.
Mail, Parcel & Distribution revenues were up, supported by parcel revenue growth across customer segments and mail trends in line with guidance.
Financial Services delivered strong results, driven by record-level Net Interest Income and solid commercial performance.
Insurance Services posted strong profitability in both the Life investment and Pension and Protection segments. Revenues rose 11% in the quarter, reflecting higher CSM release and Risk adjustment release.
Postepay Services unique and integrated ecosystem of everyday services continues to deliver growth in both revenues and profitability. Our energy business client base grew to around 800,000 clients, almost doubling from last year.
Our rock-solid group balance sheet supports our upgraded dividend policy and is a clear commitment to creating long-term value for our stakeholders and is confirmed with our dividend balance of €0.75 per share, equivalent to a total dividend balance of around €970 million, to be paid to our shareholders at the end of June, bringing the total dividend for the year to €1.4 billion, equivalent to €1.08 per share.
We signed an agreement to acquire from Vivendi 15% of TIM’s ordinary shares - a transaction that is expected to close in Q2-25 – bringing our total stake in TIM to 24.8% of the voting capital. With this long-term strategic investment in place we plan to support the consolidation of the Italian telecommunications market. We are advancing on several workstreams to generate synergies between Poste Italiane and TIM. We have signed a Memorandum of Understanding with TIM for a new contract to grant Postepay access to TIM’s mobile network infrastructure starting from January 1, 2026.
Finally, I want to extend my extreme gratitude to all our dedicated employees whose hard work, commitment and professionalism are key to the strong results we continue to achieve.”
1 Revenues and costs are net of commodity price and pass-through charges of the energy business.
2 EBIT is adjusted excluding systemic charges related to insurance guarantee fund (€19m for Q1-25) and costs and proceeds of an extraordinary nature equal to zero in all relevant periods.
3 Includes €27m of Mark-to-market gain on Nexi and TIM shares upon (de)recognition.
4 Ex dividend date 23 June 2025.
5 As of March 31, 2025, Poste holds 9.81% of TIM ordinary shares and the acquisition of the remaining 15% is subject to the notification to the Italian Antitrust Authority, pursuant to the merger control regulation.
6 Before the application of IFRS 17.
7 Excluding other non-HR costs. Numbers are restated net of commodity price and pass-through charges of the energy business.
8 EoP figures.
Thursday 8 May 2025 - 15:00 CEST
To attend click here: Poste Italiane Q1-25 Financial Results Webcast
A listen only audio conference is also available: +39 02 8020927
For further information:
Poste Italiane S.p.A. Investor Relations Poste Italiane S.p.A. Media Relations
Tel. +39 06 5958 4716 Tel. +39 06 5958 2097
Mail: investor.relations@posteitaliane.it Mail: ufficiostampa@posteitaliane.it
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Financial calendar
Next events
- 30 May 2025 - Annual General Meeting.
- 25 June 2025 - Payment of the balance of the dividend for 2024, with ex-dividend date of 23 June 2025 and record date (i.e. date of dividend payment eligibility) of 24 June 2025.
- 24 July 2025 - Q2 & H1-25 Group Results presentation.
- 13 November 2025 - Q3 & 9M-25 Group Results presentation.
- 26 November 2025 - Payment of the interim dividend for 2025, with ex-dividend date 24 November 2025 and record date of 25 November 2025.
To see the press release in full version download pdf
