Financial performance

	As at 2019	As at 2020	As at 2021	As at 2022	As at 2023
Customers (million)	35	35	35	35	35
Average daily interactions (millions)1	11.9	13.5	17.2	21.2	23.1
Group Revenues - € bn	11.0	10.5	11.2	11.4	12.0
Total Financial Assets - € bn	536	569	586	576	581
Poste Italiane Group employees (annual average)	129,243	124,695	121,423	119,806	119,310
Post Offices	12,809	12,765	12,761	12,755	12,755
Group Financial highlights €m
Group Revenues	10,960	10,526	11,220	11,374	11,989
from Mail Parcels & Distribution	3,492	3,201	3,695	3,651	3,746
from Payment, Mobile and Digital	664	737	882	1,134	1,447
from Financial Services	5,135	4,945	4,783	4,939	5,229
from Insurance Services	1,669	1,643	1,861	1,650	1,567
EBIT	1,774	1,524	1,846	2,396	2,620
Net Consolidated Profit	1,342	1,206	1,580	1,583	1,933
Mail Parcels & Distribution Revenues - €m	3,492	3,201	3,685	3,651	3,746
from Mail	2,456	1,897	2,082	2,066	2,070
from Parcels	852	1,159	1,403	1,395	1,395
from Other	185	144	210	190	281
Mail Parcels & Distribution KPI's
Mail Volumes (m)	2,735	2,280	2,558	2,439	2,287
Parcel Volumes (m)	148	210	249	240	256
Payments Mobile & Digital Revenues - €m	664	737	882	1,134	1,447
from Cards & Acquiring	338	374	457	582	717
from Transaction Banking	86	79	115	233	381
from TLC	240	284	309	319	331
from Energy3				12	17
Payments Mobile & Digital KPI's
SIM cards (m)	4.4	4.6	4.7	4.8	4.7
Postamat Debit Cards (m)	7.2	7.2	7.4	7.5	7.5
Postepay Prepaid Cards (m)	21.5	21.7	21.1	21.4	22.1
of which PostePay Evolution (m)	7.2	7.7	8.4	9.5	10.0
# of Apps downloaded (m)	30.8	48.1	70.3	84.5	96,8
Financial Services Revenues - €m	5,135	4,945	4,783	4,939	5,229
from Active Portfolio Management	339	365	407	335	158
from Interest Income	1,585	1,537	1,485	1,910	2,244
from Postal Savings	1,799	1,851	1,753	1,600	1,740
fromTransaction Banking	998	904	796	763	764
from Third Parties Distribution	313	191	221	213	180
from Asset Management	100	97	120	119	144
Financial Services KPI's
TFA's - € bn	536	569	586	576	581
Average Postal Savings Deposits - € bn	310.4	315.6	318.1	315.5	312.2
Average Current Account Deposits2 (€m)	61.9	67.4	79.1	86.5	83.5
# of current accounts from Public Administration (K)	50.2	48.3	45.8	41.7	38.1
# of current accounts from Retail & Corporate (M)	6.2	6.2	6.4	6.5	6.5
Postamat Debit Cards (m)	7.2	7.2	7.4	7.5	7.5
Postepay Prepaid Cards (m)	21.5	21.7	21.1	21.4	22.1
of which PostePay Evolution (m)	7.2	7.7	8.4	9.5	10.0
Insurance Services Revenues4 - €m	1,669	1,643	1,861	1,650	1,567
from Life	1,370	1,387	1,628	1,582	1,475
from P&C	158	142	121	68	92
from Private Pension Plans	140	113	112	140
Insurance Services - KPI's
GWP - Life (€m)	17,732	16,661	17,574	17,179	17,996
GWP - P&C (€m)	240	239	319	392	581

The Group applies IFRS17 starting from January 1, 2023, consequently 2022 figures have been restated
(1) Based on estimated digital daily visits on App/Web, Post Offices, third parties, contact centre, including daily visits related to Mail & Parcel deliveries
(2) Including Poste Italiane liquidity and treasury starting from 2023, consequently 2022 figures have been restated
(3) Figures presented net of commodity prices and pass-through charges related to Energy business starting from 2023, consequently 2022 figures have been restated
(4) In 2023 with IFRS 17, the detail of insurance revenue changed, consequently 2022 figures have been restated

KEY FINANCIAL TARGETS
Sustainable profitability and strong cash flow generation supporting enhanced dividend policy

€bn (unless otherwise stated)	2023	2024	2026	2028	CAGR 2023-2028
REVENUES	11.99	12.0	12.7	13.5	+c.3%
EBIT	2.62	2.7	2.9	3.2	+c.4%
NET PROFIT	1.93	1.9	2.0	2.3	+c.4%
DIVIDEND PER SHARE (€)	0.80		≥1.0		+c.7%
DIVIDEND PAYOUT	54%	≥65% over the plan

 

Key performance indicator

GROUP	FY 2017	FY 2018	FY 2019	FY 2020	FY 2021	FY 2022	FY 2023
EBITDA margin (EBITDA / revenues)	16%	19%	23%	21%	23%	28%	29%
Gross profit margin (EBIT / revenues)	11%	14%	16%	14%	16%	21%	22%
Net profit margin (unet profit / revenues)	7%	13%	12%	11%	14%	14%	16%
Group Shareholder Equity (€ bn)	6.7	7.5	8.2	8.7	9.3	10.1	11.0