• Wed. Oct 27th, 2021

Poste, in the first quarter. ‘solid performance’ and revenues + 9.8% to 2.9 billion

Byeditorial

May 12, 2021

In collaboration with Postenews In the first quarter of 2021 Poste Italiane recorded a “solid financial performance that reflects the business recovery trend”. In a note, the group underlines the “strong start in the implementation of the ’24 Si ‘plan with a net profit up 46% to 447 million euros against revenues up 9.8% to 2.9 billion. operating income increased by 40.8% to 620 million, while – also due to lockdowns – there was a “record growth in parcels with b2c volumes doubled year on year”. Revenues from correspondence, parcels and distribution amounted to 917 million euros (+ 18.9%) while revenues from financial services were 1.3 billion, down 3.8% but with daily gross inflows in investment products on the rise and above pre-existing levels. Revenues from insurance services amounted to 496 million, + 40% with total gross premiums of 5.7 billion, half generated by multi-branch products: finally, revenues from payments and mobile were 192 million, +16.5 % double-digit growth sustained by card payments in the first quarter of 2021 were 2.3 billion euros, up 3.7%, the result of falling personnel costs and growth in variable costs entirely in support of the growth in business volumes. Total financial assets amounted to € 572 billion, up thanks to net inflows of € 2.7 billion and driven by life insurance products. Those recorded in the first quarter of 2021 were “particularly positive if we consider that during the quarter several Italian regions have been subjected to partial lockdown measures. We have adapted and continue to evolve in a changing world, while providing all our services with constant attention to the preferences and needs of our customers “. Matteo Del Fante, CEO and General Manager of Poste Italiane, commented on the results of the first quarter, recalling that the group has “decidedly launched the execution of the new strategic plan ‘2024 Sustain & Innovate’. improved economic outlook, we achieved a solid financial performance already in the first quarter “. Del Fante reports” the strong increase in parcel revenues, achieved thanks to the doubling of B2C volumes, the continuous growth of card payments and the constant development of our insurance business strengthen our determination to successfully implement the new strategic plan “. The CEO he then says “satisfied with the results achieved in terms of revenues and costs; we are now focused on our growing role as a strategic pillar in support of Italy, thanks to our omnichannel presence and our extraordinary people”. “Since the early days of the pandemic last year, our diversified business – he adds – has demonstrated that resilience that is fundamental to guarantee the financial integrity of Poste Italiane. We are always alongside our customers, colleagues and communities when needed; at the same time we achieve remarkable results in every quarter for our shareholders. In this phase of the pandemic, we continue to be a reference player to support the economic recovery “.