Poste Italiane reports 10% profits increase

Poste Italiane has reported a consolidated net profit of €689m for 2017, up 10.8% on 2016, while revenue was up 1% at €33.4bn.

In common with most postal operators, Poste Italiane saw a continuing growth in parcels, and decline in traditional mail.

Commenting on the results, Matteo Del Fante, Chief Executive Officer and General Manager of Poste Italiane, said: “The 2017 preliminary results illustrate the strength of Poste Italiane with strong earnings, providing quality services to customers, whilst creating value for shareholders and employees.

“The numbers confirm Poste Italiane Group’s growth trend in terms of revenues, operating profit and net profit. 2017 also saw a significant increase in BancoPosta’s savings collection and PosteVita’s operating profit.

“The increased parcels revenues are encouraging, a sign of the company’s capacity to seize the growing of e-commerce opportunities in Italy.

“These results mitigate the expected drop in revenues in postal services, linked to the ongoing fall in mail volumes.

“Poste Italiane continues to invest in innovation and in digital solutions. An important step in this direction is the creation of the new Payments Mobile & Digital division, which will offer advanced payment solutions through Poste Italiane’s physical and online distribution channels.

“The 2017 results represent a solid basis for the strategic plan, which will be presented in Milan on 27 February.

“We confirm the distribution of 80 per cent of 2017 preliminary net profit, corresponding to a €0.42 dividend per share up from 2016.”