Poste Italiane S.p.A (PITAF) Q1 2025 Earnings Call Transcript

2025-05-09 04:33:11 ET

Poste Italiane S.p.A (PITAF)

Q1 2025 Earnings Conference Call

May 8, 2025 9:00 a.m. ET

Company Participants

Matteo Del Fante - Chief Executive Officer

Camillo Greco - Chief Financial Officer

Giuseppe Esposito - Head of Investor Relations

Conference Call Participants

Farooq Hanif - J.P. Morgan

Gianluca Ferrari - Mediobanca

Giovanni Razzoli - Deutsche Bank

Iain Pearce - BNP Paribas

Tommaso Nieddu - Kepler Cheuvreux

Andrea Lisi - Equita

Manuela Meroni - Banca Imi

Daniel Wilson - Morgan Stanley

Michael Huttner - Berenberg

Presentation

Operator

Good afternoon, and welcome to Poste Italiane's First Quarter 2025 Results Conference Call. In a few moments, the CEO, Matteo Del Fante will take you through some opening remarks, and then, the CFO, Camillo Greco will cover the financials.

As usual, after the presentation, we will have a Q&A session, where you can ask questions either via phone or through our webcast platform. For any topics we won't be able to cover today, please contact the Investor Relations team. We'll provide any clarifications you may require.

So, with that, over to you, Matteo.

Matteo Del Fante

Good afternoon, everyone, and thank you for joining us today for our Q1 2025 results call. We're pleased to report a very strong start of the year, with record first quarter revenues and double-digit year-on-year EBIT growth. These results are yet another demonstration of the solidity of our business model, disciplined execution, and our continued ability to adapt and grow in a dynamic environment.

All business units contributed to a solid 5% year-on-year revenue growth totaling €3.2 billion. This performance was driven by strong net interest income, continued momentum in parcel, strong net inflows in investment products and postpaid services ecosystem growth. On the profitability front, adjusted EBIT came in at €796 million, up 13% year-on-year, with a net profit of €597 million, a remarkable 19% increase compared to the same period last year. Ongoing expense management remains a key focus as we continue to successfully mitigate inflationary impacts while cost increase came from expanding businesses....

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