Poste Italiane: -4.3% to 1.51 billion profit in 2022, record ebit 2.3 billion (+24%)
Poste Italiane closes 2022 with an operating result (Ebit) “at record levels, with an increase of 24.1% to 2.3 billionyou seem to more than double the 2017 level of €1.1 billion. L’net income was 1.51 billion, down 4.3% year over year compared to 2021, equal to double the level of 2017 which stood at 0.7 billion. THE total revenues are 11.9 billion, an increase of 6%. The proposal of dividend was revised upwards in 2022 to €0.65 (+10%) supported by strong financial performance and greater visibility on 2023.
“Continues the trajectory of significant growth in operating income in 2022, benefiting from normalized positive contributions from all business sectors”, explains Poste. THE revenues from mail, parcels and distribution were essentially stable at 3.7 billionthanks to the resilience of mail and parcel revenues. THE financial services revenues increased by 3.9% to 5.8 billion, driven by the continuous growth of the interest margin. THE insurance services record “excellent results” in 2022 both in the life insurance sector and in the non-life sector, with revenues growing by 15.7% to 2.2 billion. Solid contribution in 2022 from all business lines to payments and mobile revenues, with strong growth of 30.0% on an annual basis to 1.1 billion, more than doubled compared to 2017. The new energy offer is now active and is finding favor with customers, the company said. In the end 25.7 million digital identities were released, equal to 14 times the level of 2017, “confirming the decisive role of Poste Italiane in accelerating Italy’s digital transition”.
Poste Italiane, 2023 guidance: profit up 1.7 billion, dividend 0.71 euro
Poste Italiane “is well positioned to continue its path of constant growth in a challenging context, thanks to its diversified business model”. It can always be read in the note, in the part where the guidance of 2023. The target set for 2023 on operating profit is equal to 2.5 billion, starting from a 2022 “baseline” EIT of 2.36 billion, with the contribution of all business sectors which more than compensates for the negative effects generated by inflation on the costs and start-up costs of Poste Energia’s business. Net income is seen at $1.7 billion versus FY2022 level of $1.51 billion. Dividend per share target for 2023 revised upwards to 0.71 (+9% on an annual basis), thanks to greater visibility of the capital and the generation of cash flows by all business sectors.
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