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Investing.com - Poste Italiane reported third-quarter operating profit which topped analysts’ estimates, thanks to strength at its financial services division as well as its mail distribution segment.
Revenues for the quarter came in at 3.18 billion euros, a jump of 3.9% versus the corresponding period last year, despite softer seasonality at its mail and parcels operations, according to analysts at Kepler Cheuvreux. Earnings before interest and taxes of 836 million euros were also around 3% above consensus, the analysts said.
Top-line returns at Poste’s financial services unit for the quarter stood at 1.39 billion euros, up 2.5% compared to a year ago and roughly in line with expectations, while net interest income of 669 million euros surpassed projections, the analysts added.
"Robust retail demand" helped push consumer loan distributions higher to 63 million euros, while asset management revenues of 47 million euros were reflective of "stable quarterly trends despite seasonal softness," the analysts said.
Poste’s mail, parcels and distribution business, meanwhile, notched revenues of 934 million euros, as higher parcel volumes helped to mitigate the impact of lower average prices, they flagged. Mail revenues were weaker, however, due to "continued volume pressure."
The state-backed financial group also confirmed its full-year 2025 outlook, guiding for 3.2 billion euros in adjusted earnings before interest and taxes and net income of 2.2 billion euros.
Along with being Italy’s largest service provider, serving 1.4 million clients daily through a network of more than 12,000 post offices, Poste operates across a wide range of sections, including payments, insurance, energy, mobile, and telecommunications.
Milan-listed shares of Poste inched up marginally in early European trading on Thursday.