Poste Italiane, net profit + 14% to 401 million in the third quarter, revenues + 7.3% to 2.8 billion

Net profit up 14% to 401 million euros and Ebit up 18% to 566 million for Poste Italiane in the third quarter of the year. The company communicates it. Over the nine months, the figures are respectively + 31% to 1.2 billion and + 30% to 1.6 billion, “confirming the success of the advancement of the ’23Si’ plan”. Growth also in revenues, which in the third quarter increased by 7.3% to 2.8 billion and in 9 months by 11.7% to 8.4 billion. Total costs were equal to 2.2 billion in the third quarter, + 4.8% on the year, and equal to 6.8 billion in the first nine months of the year, + 8.1% compared to the same period of 2020) , with personnel costs down against a reduction in the number of fte and other operating costs that follow the dynamics of business growth. Total financial assets amounted to € 582 billion, exceeding the objectives set by the ’24Si’ plan for 2021, “thanks to solid deposits in deposits and multi-branch insurance products in the life sector”. The board of directors, in approving the results, confirmed the distribution of an interim dividend for 2021 of € 0.185 (+ 14%). Revenues from correspondence, parcels and distribution for Poste Italiane in the third quarter amounted to 849 million euros, up 9.0% on the year. Over the first 9 months, the figure is up by 18.9% to 2.7 billion euros. The result was achieved, the company explains, thanks to the increase in mail order revenues, attributable to the recovery of volumes, the consolidation of nexive and with parcel revenues growing in all segments. Total gross revenues from financial services were € 1.5 billion in the third quarter (+ 9.3%) and € 4.3 billion in the first nine months of the year, (+ 4.4%), supported by solid performance commercial and proactive management of the investment portfolio; revenues from insurance services were instead equal to 406 million in the third quarter of 2021, down by 10.4% on the year in line with forecasts, while on the 9 months they were up by 22.1% to 1.5 billions. Overall gross premiums generated revenues of € 3.8 billion in the third quarter, of which 66% in the life segment was generated by multi-branch products. Lastly, payments and mobile revenues in the quarter amounted to 220 million (+ 19.2%) and 619 million in the first nine months of the year (+ 18.6%), driven by card payments and a number growing number of customers in telco services. Based on the results, Poste Italiane has revised upward the profitability targets for 2021. The group expects an EBIT of 1.8 billion euros and a net profit of 1.3 billion euros. “We have achieved solid results, in the context of a continuous improvement of the Italian economy, with all our activities that have gained even more momentum in growth compared to the phase before the pandemic, demonstrating the validity of our diversified business model. In this scenario, we remain focused on balancing cost efficiency and investments aimed at seizing growth opportunities. “This was stated by Matteo Del Fante, CEO and General Manager of Poste Italiane, commenting on the results of the third quarter and the first 9 months of the year.