Poste Italiane net profit at 349 mln Euro 2005
Italian state-owned postal services provider Poste Italiane closed 2005 with a net profit of 349 mln euro ($431.1 mln), up 19.4 pct year-on-year.
Poste Italiane registered a growth for the fourth consecutive year. The group’s revenue increased 13.6 pct year-on-year to over 16 bln euro ($19.765 bln) in 2005, thanks to the good performance registered in all fields of activity. In particular, the company’s revenue from insurance services increased 31.3 pct year-on-year, revenue from services to families rose 4.5 pct year-on-year and from postal services went up 2.9 pct year-on-year in 2005.
Poste Italiane paid 625 mln euro ($772.1 mln) in taxes on its 2005 results.
[Editor’s note: Italy’s antitrust regulator has imposed a 1.6 mln euro ($2.0 mln) fine on Poste Italiane because of an abuse of a dominant position in the hybrid electronic mail market and because the company has privileged its subsidiary Postel, the Italian News Digest reported on April 10, 2006.]
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Source: AII Data Processing Ltd.,ASCA
Italy Poste Italiane Posts 349 Mln Euro Net Profit 2005
Corporate News Service 04-19-2006
(ANSA) – Milan, April 20 — Italian state-owned postal services company Poste Italiane reported a net profit of 349 mln euro ($431.1 mln) for 2005, up 19.4 pct year-on-year, Massimo Sarmi, chief executive officer (CEO), announced at a press conference.
Total revenue exceeded 16 bln euro ($19.8 bln), up 13.6 pct year-on-year.
Sarmi added that 2005 was yet another record year for the company given the good results in the financial sector, the work done to improve the company’s products and services and the investments in infrastructure and new technology.
[Editor’s note: Poste Italiane posted a consolidated net profit of 236 mln euro ($291.5 mln) for 2004. The company’s earning before interest, tax, depreciation and amortisation (EBITDA) totalled 1.8 bln euro ($2.2 bln). Operating profit stood at 796.4 mln euro ($983.8 bln). Turnover exceeded 9.0 bln euro ($11.1 bln), ANSA reported on February 22, 2005.] (ANSA).
