(Tiper Stock Exchange) – Italian post closed the first quarter of 2023 with revenues equal to 3 billion euros, up by 8.1% compared to the 2.8 billion of the first quarter of 2022. In particular, the revenues of segment correspondence, parcels and distribution amounted to 893 million (-0.9% y/y); the revenues of financial segment equal to €1.4 billion, up 7.9% y/y, supported by growth in the net interest income; the revenues of insurance segment they amounted to 393 million, an increase of 5.5%; the revenues of thepayment and mobile item they grew by 48.2% to 343 million, thanks to contributions from all product lines, the consolidation of LIS and the launch of the new energy offer.
THE total costs in the first quarter of the year amounted to 2.3 billion euro, up 7% on the 2.1 billion of the previous year and in line with expectations. Excluding the impact of IFRS17 and the effect of acquisitions, i Staff costs were substantially stable, with the reduction in FTEs (number of full-time equivalent persons) to mitigate the increase in the wage component.
L’Net income in the first quarter of 2023 it was equal to 540 million euros, up by 9.4% compared to the level of the previous year (494 million).
“The first quarter results are very solid and offer a significant visibility into our 2023 guidancewith solid financial performance and profitability generation across all business lines while continuing to maintain a cost focus,” commented theCEO Matteo Del Fante.
Poste reports one solid capital position: Total capital ratio of BancoPosta equal to 23.7% (of which Cet1 ratio equal to 20.9%), Leverage ratio of BancoPosta equal to 3.1% and Solvency II ratio of the Poste Vita insurance group equal to 267%, well above managerial ambitions.
“The solid results of the beginning of the year position us very well to reach our goals for 2023 – added the CEO – Above all, we are committed to rewarding all of our stakeholders with sustainable performance in 2023 and beyond, starting with the dividend balance of €0.44 per share to be paid on June 21.”