Poste Italiane grew revenues to €12.6bn (US$13.2bn) in 2024, a 5% increase on the previous year, and had an all-time high net income of €2.01bn (US$2.11bn), hitting the company’s target two years ahead of schedule.
According to the post’s FY2024 preliminary results published on February 21, the company saw resilient performance in its mail, parcel and distribution services, driven by “a favorable business mix and repricing, reinforcing leadership across all customer segments”.
Business diversification
Outside of its traditional mail service, Poste Italiane grew its financial services revenue by 5.6% to €5.5bn (US$5.7bn) year-on-year, supported by strong investment portfolio returns and record-high loan distribution fees, while its insurance services’ revenue rose 4.7% to €1.6bn (US$1.68bn) year-on-year.
The post’s digital payment service PostePay also saw strong growth, with revenues rising 9.5% to €1.6bn (US$1.68bn) and EBIT increasing 20.3% year-on-year, driven by transaction value growth and the expansion of energy services.
Looking ahead
Poste Italiane has confirmed its growth trajectory for 2025, with adjusted EBIT expected to reach €3.1bn (US$3.25bn) and net income projected at €2.1bn (US$2.2bn).
The company will also look to capitalize on its recently bought shares in Telecom Italia SpA to create synergies and favor the consolidation of the domestic telecommunications market.
Commenting on the preliminary results, Matteo Del Fante, chief executive officer at Poste Italiane, stated, “We were excited to share our vision in March last year at our Investor Day, and one year into the plan, we have exceeded our financial targets with a strong performance across our platform and seamlessly delivering on our strategic priorities. In a digital age, Poste Italiane remains one of the most trusted institutions in Italy, with a physical presence in every community, as well as the largest digital platform in the country.”