ROME (ITALPRESS) – The Board of Directors of Poste Italiane, chaired by Silvia Maria Rovere, approved the preliminary results for the year 2024, prepared in accordance with international accounting standards (IAS/IFRS), and the update of the 2025 Strategic Plan.Revenues in 2024 are at record levels: 12.6 billion euros, up 5 percent year-on-year.Adjusted Operating Income (Ebit) is 2.96 billion euros in 2024, ahead of plan, well above the latest guidance and about three times the 2017 level. Highest-ever net profit of 2.01 billion euros, achieved two years ahead of plan and in line with updated guidance. “Solid performance in mail,” Poste Italiane points out, “thanks to a favorable business mix and repricing actions – confirmed leadership in parcels in all customer segments.Revenues in Financial Services are up 5.6 percent year-on-year to 5.5 billion euros, driven by solid revenues from the investment portfolio and record commissions in the distribution of financing products.Reached the threshold of 1 billion euros in gross premiums in 2024 in the protection business, and positive net inflows in the life business “in a challenging market environment, with revenues up 4.7 percent year-on-year to 1.6 billion euros,” the note continues. Solid performance in PostePay services, with revenues growing 9.5 percent year-on-year to 1.6 billion in 2024, and Operating Income (EBIT) increasing 20.3 percent year-on-year to 0.5 billion, supported by growth in transacted business and results from the energy business ahead of plan forecasts.”The proposed dividend per share for the full fiscal year 2024 is €1.08, up 35 percent from fiscal year 2023, for a total distribution of €1.4 billion out of 2024 earnings, in line with the upwardly revised dividend policy based on a 70 percent pay-out ratio.The growth trajectory is confirmed for 2025, with adjusted operating income (Ebit) guidance of €3.1 billion and net income of €2.1 billion. Dividend policy is revised further upward, “thanks to solid cash flow visibility and group capital optimization: structurally increased pay-out ratio from over 65 percent to 70 percent, with cumulative dividends over the 2024-2028 period of around €7.5 billion.””In March 2024, during our Investor Day, we enthusiastically shared our vision, and today, one year after the launch of our Strategic Plan, we have surpassed our financial targets, recording solid performance across our entire platform and successfully achieving our strategic priorities. In the digital age, Poste Italiane remains one of the most trusted institutions in Italy, with a widespread physical presence in every community and the largest digital platform in the country,” comments Matteo Del Fante, CEO of Poste Italiane. “2024 was a record year. We achieved record revenues of €12.6 billion, record Adjusted Operating Income (EBIT) of €2.96 billion, almost three times the 2017 level, and net income of €2.01 billion, two years ahead of Plan targets and perfectly in line with our updated guidance,” Del Fante explains. “All four of our business units recorded solid revenue growth, further confirming the strength of our highly diversified business model. Financial targets aside, which are ahead of schedule, all the key initiatives of “The Connecting Platform” business plan are perfectly on track. “Poste Italiane continues to represent a strategic pillar for Italy and to play a key role in the country’s economic and social development. We are extremely proud of the Polis Project, which reinforces our role as a trusted partner for communities, contributes to bridging the digital divide and fosters greater social cohesion,” the CEO of Poste Italiane emphasizes. Our transformation is producing tangible results. Over the past seven years, we have more than offset lower revenues from areas in structural decline, such as mail and payment slips, by generating €2 billion in additional revenues from high-growth businesses such as parcels and digital payments, as well as significantly higher revenues from the investment portfolio and the strength of the insurance business. We remain focused on sustainable growth in revenues and profitability, with guidance for 2025 forecasting Adjusted Operating Income (EBIT) of 3.1 billion euros and net income of 2.1 billion.””In addition, thanks to clear visibility on cash flows and effective Group capital optimization, we are committed to an upward revision of the dividend policy, with a structurally increased pay-out ratio to 70 percent over the plan period, resulting in more than €7.5 billion in cumulative dividends over the 2024-2028 period, compared to the original target of €6.5 billion,” he continues. We will propose a dividend per share for the full fiscal year 2024 of 1.08 euros, up 35 percent year-on-year, for a total of 1.4 billion euros in dividends distributed on net income for fiscal year 2024. The balance will be distributed in June this year. I would like to mention that in March last year we set a dividend per share target of 1 in 2026, so today we can say that we have exceeded our target two years early. 2024 marks the eighth consecutive year of annual dividend growth, with a total dividend payout since 2016 of 7 billion,” Del Fante concluded. Looking ahead, our confidence in Poste Italiane remains steadfast. Our ability to generate sustainable and resilient growth, in any context, confirms the soundness of our business model and our long-term vision. As we continue on this path, we remain committed to creating value for all our stakeholders: shareholders, customers, employees and the communities we serve.”
– Poste Italiane press office photo –
(ITALPRESS).
