Poste Italiane: we have exceeded our financial targets
The Board of Directors of Poste Italiane S.p.A. chaired by Silvia Maria Rovere, met yesterday and approved the preliminary 2024 Results, prepared in compliance with IAS/IFRS, and the 2025 Strategy update.
Final approval of the 2023 financial statements by the Board of Directors is foreseen on 26 March 2025, the authorisation date of reporting pursuant to IAS 10 of any events after the closure of the financial year. The data and information contained in this document is therefore based on provisional estimates, currently under verification, and have not been audited.
The data and information contained in this document is therefore based on provisional estimates, currently under verification, and have not been audited.
Matteo Del Fante, Poste Italiane Chief Executive Officer commented: “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 physical presence in every community, as well as the largest digital platform in the country.
2024 has been a record year. We achieved record-breaking revenues of €12.6 billion, record adjusted EBIT at €2.96 billion, almost three times the 2017 level and net profit at €2 billion, two years ahead of plan and fully aligned with our updated guidance. All our four business units delivered solid revenue growth, further validating the strength of our highly diversified platform business model.
Besides financial targets, which are ahead of plan, all the key strategic initiatives of The Connecting Platform plan are fully on track.
Poste Italiane remains a strategic pillar for Italy, playing a key role in the country’s economic and social development. We are extremely proud of the Polis project, reinforcing our position as a trusted partner for communities, bridging the digital divide and enhancing social cohesion.
Our transformation is delivering tangible results. Over the past seven years, we have more than mitigated lower revenues from businesses in structural decline, such as physical mail and payment slips, with €2 billion additional revenues from our fast-growing parcels and payments businesses, significantly higher investment portfolio revenues and resilient insurance business.
We remain focused on delivering sustainable revenue and profitability growth, with a €3.1 billion adjusted EBIT and €2.1 billion net profit guidance for 2025.
Furthermore, thanks to clear visibility on cash flows and effective group capital optimization we are committing to an upgraded dividend policy with a payout ratio structurally increased to 70% throughout the plan, translating into more than €7.5 billion cumulated dividends over the 2024-2028 period compared to the original target of €6.5 billion.
We will be proposing a full-year 2024 Dividend Per Share of €1.08, up 35% year-on-year for a total dividend of €1.4 billion on 2024 net profit. The balance will be paid in June of this year. Let me remind you that last year in March we gave a target DPS of €1 in 2026, we are overachieving that target 2 years in advance. This year marks the eighth consecutive year of annual dividend growth with a cumulative €7 billion in dividends distributed since 2016.
Looking ahead, our confidence in Poste Italiane’s future remains unwavering. Our ability to deliver sustainable and resilient growth, in any environment, confirms the strength of our business model and our long-term vision. As we move forward, we remain committed to creating value for all stakeholders – our shareholders, our customers, our employees and the communities we serve.
