2017 Poste Italiane preliminary results above expectations driven by renewed focus on business development and operations

Consolidated net profit: € 689 million + 10.8%. Dividend policy confirmed at 80% of net income and dividend per share up: 0,42€

  • Total consolidated revenue: € 33.4 billion, +1% (€ 33.1 billion in 2016)
  • Consolidated operating profit: € 1,123 million, up 7.8% mainly thanks to positive results in insurance and savings management (€ 1,041 million in 2016)
  • Consolidated net profit: € 689 million, + 10.8% (€ 622 million in 2016)
  • Dividend payout of 80% of 2017 preliminary net profit, corresponding to a dividend of € 0.42 per share,  +7.7% (€ 0.39 per share on 2016 net profit)
  • Cumulated direct and indirect collection: € 506 billion, +2.7% (€ 493 billion at FY16)
  • Net industrial financial position: € 1,029 million surplus +.2% (€ 893 million surplus at end FY2016)

The Board of Directors of Poste Italiane S.p.A. (“Poste Italiane”), chaired by Maria Bianca Farina, today reviewed the preliminary consolidated results for FY 2017, drawn up in compliance with the measurement, recognition and classification criteria laid down by international accounting standards (IAS/IFRS).

Matteo Del Fante, Chief Executive Officer and General Manager, commented on the results as follows:

“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.”

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Final approval of the 2017 Financial Report by the Board of Directors is scheduled for 29 March 2018, authorisation date for publication pursuant to IAS 10 also for the purpose of reporting events occurring after the end of the financial year. The data and information contained in this release may be based on provisional estimates, currently under verification, and have not been audited.

In addition to the standard financial indicators required by IFRS, Poste Italiane also utilises a number of alternative performance indicators, with a view to providing a clearer assessment of the business performance and financial position. The meaning and content of such indicators are described in the annex, in line with the ESMA/2015/1415 Guidelines of 5 October 2015.

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Source: Poste Italiane

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