Poste Italiane celebrates its 2022 results: growing profitability and dividends
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The company led by Matteo Del Fante doubles its operating result in five years. In the gas and energy business, it aims to exceed 300,000 contracts in 2023
“Poste Italiane has recorded solid results with a 2022 operating result at record levels, more than doubling compared to 2017”. He stated it Matthew Del Fante, CEO and general manager of Poste Italiane, who ends his mandate this year, commenting on the 2022 results presented today. “All sectors contributed to the underlying operating profitability growth trend, once again confirming solid foundations for future growth. Our transformation program, founded on “Deliver22″, our first Strategic Plan, has now been fully implemented with all key targets achievedi”, added the CEO.
The company led by Del Fante closed the year with important results: the EBIT grew by 24% to 2.3 billion. Net profit is 1.51 billion, – 4.3%, as a result of higher taxes, but it is “double the 2017 level which amounted to 0.7 billion” notes the company in a statement. The summary of the 2022 financial statement data indicates the progression of the company compared to 2017, the year of Del Fante’s appointment: on the revenue front, the growth is 12.5% in 6 years while the operating margin marks +104% . Poste has decided to “celebrate” by raising the targets for 2023 e increasing the dividend by 10% compared to 2021. “Based on our outperformance, we are increasing the dividend for 2022 and the target for 2023, compared to our original objectives”, added Del Fante, “proposing a dividend per share of 65 cents euros on 2022 results, up 10% from last year’s level, and setting a dividend per share target of 71 euro cents on 2023 results, up 9% year-on-year.”
Looking in detail at the various lines of business, Mail, Parcels & Distribution revenues totaled €3.7 billion in 2022, down 1.2% year-on-year and showing solid resilience compared to €3.6 billion in 2017. This division is the l ‘unique loss, with a loss of 361 million euro. Financial Services revenues were $4.9 billion, up 3.3% year over year, with NII solid and up 28.6% year over year, more than offsetting lower revenues envisaged by the commissions for the distribution of postal savings products. Payments and Mobile revenues continued to grow 30% year-on-year to €1.1 billion, while insurance revenues increased 15.7% year-on-year to €2.2 billion. billion.
As for the new energy line, Del Fante said that over 150,000 contracts have been signed in four months. The forecast is to exceed 300,000 contracts in 2023.
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