Poste Italiane 2Q adj. EBIT EUR864m, est. EUR787.7m

Poste Italiane 2Q adj. EBIT EUR864m, est. EUR787.7m

Poste Italiane SpA (BIT:PST) has reported its Q2 2025 financial results, with the company's adjusted EBIT (earnings before interest and taxes) reaching EUR864 million, surpassing the average company-provided consensus of EUR787.7 million. This strong performance has prompted the company to upgrade its full-year 2025 guidance, with adjusted EBIT now expected to reach EUR3.2 billion and net profit projected at EUR2.2 billion [1].

The Italian postal and financial services giant reported record H1 2025 revenues of EUR6.46 billion, continuing the positive trajectory established in Q1 2025. All four business segments—Financial Services, Mail, Parcel & Distribution, Insurance Services, and Postepay Services—contributed to revenue growth, with Financial Services remaining the largest contributor at EUR2,841 million (+6% Y/Y) [2].

Financial Services delivered particularly strong results, driven by record net interest income and improved commercial performance. Gross revenues increased across all categories, with active portfolio management, net interest income, and postal savings all showing significant growth. The segment benefited from the highest ever quarterly net interest income, supported by higher average deposits and lower cost of funding [2].

Insurance Services continued to show strong commercial performance and profitability across Life & Protection products. The segment benefited from positive net flow trends, driven by strong gross written premiums (+20% Y/Y) with an increased share of multiclass products [2].

The Mail, Parcel & Distribution segment showed mixed results. While parcel volumes growth accelerated, supported by market share gains, mail volumes continued their expected decline. The segment’s adjusted EBIT was impacted by lower distribution rebates, though management indicated it was progressing in line with FY-25 guidance [2].

A key strategic development for Poste Italiane is its investment in TIM (Telecom Italia (BIT:TLIT)). The company now holds a 24.8% shareholding in TIM’s ordinary share capital, representing 17.8% of total share capital. This investment, valued at EUR1,278 million as of June 30, 2025, aligns with the strategic market consolidation efforts mentioned in the Q1 earnings report [2].

Poste Italiane maintains a solid group balance sheet with strong cash generation and ample liquidity. The company’s BancoPosta division shows a solid capital position with a Total Capital Ratio of 22.7% as of June 2025, providing a strong foundation for continued growth and shareholder returns [2].

While the mail market continues to face long-term volume declines, Poste Italiane’s diversified business model and strategic investments position it well for sustainable growth. The integration and realization of synergies from the TIM investment will be a key area to watch, as will the company’s ability to maintain momentum in its financial and insurance services segments amid changing market conditions [2].

References:

[1] Reuters. (2025). Poste Italiane SpA PST: RAISES GROUP GUIDANCE 2025, EBIT ADJUSTED SEEN UP TO EUR 3.2 BILLION. Retrieved from https://www.tradingview.com/news/reuters.com,2025:newsml_FWN3TJ0RV:0-poste-italiane-sees-ebit-adj-up-to-eur-3-2-bln/

[2] Investing.com. (2025). Poste Italiane Q2 and H1 2025 Slides Record Results Drive Guidance Upgrade. Retrieved from https://www.investing.com/news/company-news/poste-italiane-q2--h1-2025-slides-record-results-drive-guidance-upgrade-93CH-4145159