The Poste Italiane group closed the first nine months of 2021 with a net profit up by 30.7% 1.17 billion euros, while in the third quarter the increase was 13.6% to 401 million, higher than the consensus gathered by the company, on the sample of analysts following the stock, which estimated 389 million. The group has published the data before the start of trading after the ok of the board of directors yesterday which also revised upwards the income targets for 2021: the ebit is now seen at 1.8 billion from the 1.7 billion of the previous guidance, net profit to 1.3 billion from 1.2 billion. Poste also confirmed the distribution of an interim dividend for 2021 of € 0.185, up 14%, which will be paid on November 24th with detachment on November 22nd.
Revenues had a strong boost in the third quarter, up 7.3% to 2.76 billion, beyond consensus expectations of 2.74 billion, and up 11.7% to 8.44 billion in the nine months. The operating result, ebit, for the third quarter rose by 18.3% to 566 million, exceeding in this case the 538 million envisaged by the consensus, with a + 29.8% in the nine months to 1.61 billion. The group underlines that growth continues in all segments of the parcel business and the recovery of revenues from correspondence with constant development of the payments and mobile division. In particular, the Post and Parcels division recorded a positive EBIT in the quarter at 78 million from -50 million in the third quarter of 2020 and in the first nine months of 2021 and up 90% year on year even if it remains in the red for 24 million. .
“The success of implementing the 24SI plan is the basis for updating our guidance for 2021. We now expect full-year revenues to increase by approximately 100 million from our original target, reflecting the solid performance from the start. year and prospects that will remain good for the rest of the year. We have continued to pursue careful cost control throughout the year and we expect lower total costs to lead to an operating result, EBIT, of approximately 1.8 billion. compared to our initial goal of 1.7 billion. The updated forecast on net profit now stands at around 1.3 billion euros compared to our previous indication in the guidance of 1.2 billion, excluding the revaluation of Sia. ” said theto Matteo Del Fante.
The manager then specified that “the impressive business results achieved allow us to confirm our 2021 dividend policy, with the payment in November of an interim dividend of € 0.185, which records an annual growth of 14%, still recognizing a aimed at our shareholders a rising and very visible dividend, fueling confidence in future growth “.
Total financial assets reached € 582 billion, exceeding the objectives of the 24SI plan for 2021 thanks to solid deposits in deposits and multi-class insurance products in the Life sector. The 24SI industrial plan outlines growing revenues to 12.7 billion in 2024, thanks to the contribution of all business segments. Based on this scenario, the group intends to distribute dividends of 3 billion euro over the period of the plan, with a clear policy: dividend per share + 35%. Since 2022, the group has announced a commitment to an annual increase of 6%, in line with the growth in net profit, with a base in 2021 of 0.55 euros, up 14% on 2020 when the unit coupon was € 0.49, up from € 0.463 in 2019, equal to an amount of € 632 million. (All rights reserved)
