Poste Italiane has sped into 2025 with record profitable growth driven by improved results in all divisions, including its expanding parcels business.
The group’s adjusted operating profit rose by +12.8% to €796 million in the first three months of this year, with revenues up by +5% to €3.2 billion and thus outpacing a +4.6 rise in operating costs. Net profit improved by 19% to €597 million.
Confident outlook
CEO Matteo Del Fante commented: “We are pleased to report a very strong start to the year across the board, with a record breaking first-quarter revenues and profitability, with double-digit year-on-year EBIT growth.
“These results are yet another demonstration of the solidity of our business model, disciplined execution and our continued ability to adapt and grow in a dynamic environment. We remain confident in our ability to achieve our 2025 targets and continue delivering strong results going forward,” he emphasised.
Parcels growth
Growth in parcels contrasted with the decline in letters in the Mail, Parcel & Distribution division where revenue grew by +1.6% to €949 million. Adjusted EBIT dropped by -39.5% to €25 million but net profit improved significantly to €29 million from just €6 million in the same period of last year.
Del Fante commented: “Mail, Parcel & Distribution revenues were up, supported by parcel revenue growth across customer segments and mail trends in line with guidance.” Mail revenues fell by -2.9% to €520 million as higher tariffs partly offset a -8.9% volume decline.
But Parcel & Logistics revenues grew by +6.9% to €393 million as volumes increased by 8.7% to 77 million items and average parcel prices remained broadly stable (-0.5%). The number of parcels delivered by postal staff under the shared delivery model increased by 15.6% to 31 million items, thus representing 40% of total volumes.
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