Poste Italiane has announced its consolidated FY 2023 results, revealing a 5% year-on-year revenue increase to €12bn (US$13bn) and a record operating profit of €2.62bn (US$2.84bn).
The Mail, Parcel & Distribution division broke even, while the financial services division achieved revenues of €5.2bn (US$5.64bn), underpinned by retail net inflows of over €1.2bn (US$1.3bn).
In Insurance Services, the post achieved positive results, with confirmed net flows outperforming the market and a resiliently low lapse rate in a challenging environment, according to Matteo Del Fante, Poste Italiane chief executive officer and general manager.
“In Payments & Mobile, all business lines delivered solid results also thanks to the LIS consolidation and once again achieving double-digit growth in operating profitability. The PosteEnergia offer has been very well received by the market, reaching around 500 thousand contracts signed to date,” he said.
“I am very proud of our employees for their commitment and enthusiasm and together we have built strong foundations. We are Italy’s leading client-focused platform company, serving the needs of Italians both physically through our extensive post office branch network and PuntoPoste touchpoints as well as virtually through our vast digital presence.
“Poste Italiane is poised to embrace the future, leveraging the strengths of our results and the resilience of our business, supported by our strategic vision which has been proven correct.
“I am sure that we will continue to evolve and deliver excellence to all our stakeholders and we will be presenting on March 20 our new 2024-2028, plan ushering in the next stage of Poste Italiane’s growth story.”