Poste Italiane CEO Matteo Del Fante: we are increasing the dividend for 2022 and the target for 2023, compared to our original targets
The Board of Directors of Poste Italiane S.p.A. (“Poste Italiane” or the “Group”), chaired by Maria Bianca Farina, approved the consolidated 2022 Results, prepared in compliance with IAS/IFRS, and the 2023 guidance.
• 2022 record high ebit up 24.1% y/y to €2.3bn, more than doubling the 2017 level of €1.1bn
• Impressive 2022 operating profit progression supported by positive underlying contribution from all segments
• Total revenues at €11.9 billion, up 6% y/y
Matteo Del Fante, Poste Italiane Chief Executive Officer and General Manager commented: “Poste Italiane reported solid results with a record high 2022 EBIT, more than doubling compared to 2017. All segments contributed to underlying operating profitability progression, confirming once again robust foundations for future growth.
Our transformation programme, based on ‘Deliver22’, our first Strategic Plan, has now been fully implemented with all key targets achieved.
We are evolving from a traditional logistics operator into an omnichannel distribution platform leveraging our strategic investments in technology and data driven capabilities. Our people have made and continue to make a significant difference. We have hired 26 thousand FTE, invested in training, upskilling and reskilling with value added per FTE up 25% since 2017.
In the past 5 years, we have faced several challenges, such as those presented during the Covid-19 pandemic, as well as a turbulent macro-environment.
These factors have had a significant impact on both the economy and our customers. Poste Italiane’s anti-fragile approach, as a response, has enabled the effective delivery of all commitments towards stakeholders.
It is with this in mind that we have carried out a comprehensive assessment to make 2022 a very visible baseline for the new strategic plan we will be presenting later this year.
We are aware of our role as a strategic pillar for Italy as an integral part of the country for over 160 years and we launched the Polis project to support the country and local communities. Polis will provide a new way to access a range of Public Administration services, enabling cross-selling opportunities as well as supporting our service-model transformation in the future. Looking ahead to 2023 we see supportive business trends more than offsetting cost inflation. We see our targets achievable under different market conditions and supported by the strong commercial progress registered year-to-date.
Based on our overperformance, we are increasing our dividend for 2022 and 2023, compared to our original targets, proposing a DPS of 65 cents on 2022 results, an increase of 10% compared to last year level, and we are setting an upgraded target DPS of 71 cents on 2023 results next year, up 9% on yearly basis”.
Source: Poste Italiane