Key results in the Quarter:
- The Polis Project continues to consolidate Poste Italiane’s role in supporting social cohesion and bridging the digital divide in small towns and inland areas of the country . At the end of March, 5,251 post offices had been transformed into digital service hubs , simplifying citizens’ lives, and 160 co-working spaces had been created . Over 250,000 public administration services were provided across all post offices, including more than 190,000 passports.
- Thanks also to the contribution of the Polis Project, efforts to improve the energy efficiency of the Group’s buildings and increase renewable energy production are progressing . The number of buildings equipped with smart building systems has risen to 5,273, and approximately 1,000 photovoltaic systems have been installed, for a total installed capacity of 31 MWp.
- The ‘Green Delivery’ project continues , aimed at developing an increasingly sustainable delivery model that meets customer needs and helps reduce environmental impact. Poste Italiane has further strengthened its PUDO (Pick-Up-Drop-Off) network, which, at the end of March, reached a total of 31,917 physical locations, including post offices throughout the country, as well as over 18,000 collect points (stores) and approximately 1,800 lockers in the Punto Poste network.
- Poste Italiane has renewed its ‘Equal Salary’ certification , which certifies equal pay for women and men in equal roles, confirming the Group’s commitment to promoting an inclusive culture based on equal opportunities, merit, and transparency.
- Poste Italiane confirms its position as one of the most inclusive brands in Italy, entering the Top 10 of the Diversity Brand Index 2026 and receiving the Diversity Brand Award for accessibility, thanks to inclusive digital solutions – including video tutorial platforms with Italian Sign Language, audio descriptions and multilingual subtitles – which facilitate access to services for a large and diverse audience.
Yesterday, the Board of Directors of Poste Italiane SpA (“Poste Italiane” or “the Group”), chaired by Silvia Maria Rovere, approved the financial results for the first quarter of 2026 (unaudited).
Matteo Del Fante, CEO of Poste Italiane, commented: “We started the year with particularly solid results, recording record first-quarter revenues of €3.5 billion, up 8% year-over-year. This performance confirms the strength of our platform and the consistency of our long-term strategy. This is our fourth consecutive first quarter with record results, thanks to the solid contribution of all business divisions, with net inflows into investment products of €1.7 billion, the result of the robust performance of the Life and Pension Investments insurance segment, accompanied by continuously improving business trends in Postal Savings and stable retail deposits. Our leadership in digital payments is confirmed, with above-market growth that underscores the solidity of our platform.
Profitability reached record levels, with Adjusted Operating Profit (EBIT) up 14% year-over-year to €905 million, confirming the strength of our cost discipline and efficiency measures in a market-leading environment.” In an inflationary environment, net profit increased to €617 million, up 3% year-over-year.
In light of the positive performance in the first half of the year and a more favorable interest rate environment, we have increased our 2026 Adjusted Operating Income (EBIT) guidance to €3.4 billion.
Revenue growth in the Mail, Parcel & Distribution segment was driven by increased parcel volumes and repricing actions, which mitigated the expected decline in mail volumes. In mid-April, we announced a joint venture with Benetton Logistics, as a further step in the growth and strengthening of our contract logistics business.
In Financial Services, revenues grew 11% to €1.6 billion, supported by the strength of the investment portfolio and solid commercial performance.
Insurance Services recorded positive results in both the Life & Pension Investments and Protection segments, with revenues up 6% in 2026. Quarterly revenues reached €469 million.
The unique and integrated ecosystem of Postepay services for everyday needs generated growth in both revenue and profitability, anticipating integration into the new financial hub.
We continue to operate from a position of strength. The Group’s balance sheet remains solid, with a Solvency II ratio of 294% and an improving net financial position, with €341 million in cash generated in the quarter (+€43 million compared to the first quarter of 2025).
We have further strengthened our belief in the strategic validity of the acquisition of TIM and its natural consistency with our business model. Thanks to our strong balance sheet and robust cash generation, we are uniquely positioned to support digital investments and accelerate strategic initiatives aimed at supporting growth. The combination of Poste Italiane’s telecommunications businesses with TIM’s consumer segment will create the number one mobile operator in Italy, launching the next phase of domestic consolidation in the telecommunications sector.
The financial profile of the proposed transaction is extremely solid, with accretive earnings per share (EPS) starting in 2027, rising to double-digit levels from 2028.
The dividend per share implied by the 2026 guidance is confirmed, and the future dividend policy will be accretive compared to the standalone scenario.
Pro forma leverage is expected to reach 1.4 times EBITDA after lease costs (so-called “after lease”) by the end of 2026, gradually decreasing thereafter, and our credit rating has been affirmed to date by all three major rating agencies.
We are entering a new chapter in our journey, building on the results already achieved and driven by a clear long-term ambition. On July 24, we will present our standalone 2026-2030 plan, alongside our second quarter 2026 results.
Our people remain our most valuable asset, and I want to thank them for their continued commitment and dedication to Poste Italiane’s long-term success.
We remain strongly committed to creating value for all stakeholders—our shareholders, our customers, our employees, and the communities in which we operate.
Source: Poste Italiane