POSTE ITALIANE

Q3 & 9M-24 FINANCIAL RESULTS

6 NOVEMBER 2024

THE CONNECTING PLATFORM

CONTENTS

EXECUTIVE SUMMARY

Insurance

Services

Financial

Services

BUSINESS REVIEW

APPENDIX

Postepay

Services

Mail, Parcel &

Distribution

2

EXECUTIVE SUMMARY

THE LARGEST ITALIAN PLATFORM COMPANY

RECORD FIRST 9 MONTHS REVENUES AND PROFITABILITY

CONFIRMING GROWTH TRAJECTORY OF ALL BUSINESS UNITS

  • 9M-24UNDERLYING1 REVENUES GROWTH OF 8% DRIVEN BY ALL BUSINESS UNITS
  • COST DISCIPLINE MITIGATING INFLATION IMPACT - EVOLUTION REFLECTING HIGHER BUSINESS VOLUMES
  • 9M-24ADJUSTED EBIT2 AT €2,277M (+18% UNDERLYING1) AND NET PROFIT AT €1,595M (+19% UNDERLYING1)
  • CONTINUED POSITIVE NET FLOWS IN INVESTMENT PRODUCTS - IMPROVING INSURANCE NET FLOWS

INTERIM DIVIDEND OF €0.33 P/S (€427MLN) TO BE PAID ON NOVEMBER3 20TH, UP 39% VS 2023

IN LINE WITH FY-24 UPGRADED GUIDANCE: ADJUSTED EBIT2 OF €2.8BN AND NET PROFIT OF €2.0BN

1. Underlying growth calculated excluding the impact of sennder Capital Gain ("CG"), Active Portfolio Management ("APM"), systemic charges estimate related to insurance guarantee fund and 2023 one-off bonus, please refer to slide 38 for a full reconciliation; 2. Adjusted excluding systemic charges estimate related to insurance guarantee fund and costs and proceeds of extraordinary nature, please refer to slide 38 for a full reconciliation; 3. Ex dividend date 18 November 2024

3

Q3 & 9M-24 RESULTS OVERVIEW

STRONG ADJUSTED EBIT1 PROGRESSION DRIVEN BY TOP-LINE GROWTH AND COST DISCIPLINE

  • m unless otherwise stated

Q3-23 Q3-24 Δ% 9M-23 9M-24 Δ%

Underlying growth %2

excl sennder CG, APM, systemic charges, and 2023 one-off bonus

REVENUES

2,795

3,062

+10%

8,803

9,226

+5%

+8%

ADJUSTED

539

789

+46%

2,105

2,277

+8%

+18%

EBIT1

NET PROFIT

382

569

+49%

1,522

1,595

+5%

+19%

Revenues and costs are restated net of commodity price and pass-through charges of the energy business, please refer to slide 39 for a full reconciliation; 1. Adjusted excluding systemic charges estimate related to insurance guarantee

fund and costs and proceeds of extraordinary nature. Please refer to slide 38 for a full reconciliation; 2. Underlying growth calculated excluding the impact of sennder Capital Gain ("CG"), Active Portfolio Management ("APM"), systemic 4 charges estimate related to insurance guarantee fund and 2023 one-off bonus. Please refer to slide 38 for a full reconciliation

EXTERNAL REVENUES

POSITIVE COMMERCIAL TRENDS RESULTING IN STRONG REVENUE GROWTH ACROSS THE PLATFORM

  • m unless otherwise stated

MAIL, PARCEL & DISTRIBUTION

FINANCIAL SERVICES

+189

+50

+6%

860

909

Q3-23

Q3-24

+42

+2%

2,755

2,797

9M-23

9M-24

+166

+5%

+14%

4,047

3,858

1,358

1,192

Q3-23

Q3-24

9M-23

9M-24

Active Portfolio

168

16

Management

INSURANCE SERVICES

POSTEPAY SERVICES

+29

+8%

371

399

Q3-23

Q3-24

+84

+7%

1,142

1,226

9M-23

9M-24

+23

+6%

373

396

Q3-23

Q3-24

+109

+10%

1,048

1,156

9M-23

9M-24

5

ADJUSTED EBIT1 BY SEGMENT

PROFITABILITY BENEFITING FROM STRONG REVENUE GROWTH AND EFFECTIVE COST DISCIPLINE

MAIL, PARCEL & DISTRIBUTION

€ m unless

otherwise

stated

FINANCIAL SERVICES

+29

+180

+19%

n.m.

154

183

87

(93)

9M-23

9M-24

Q3-23

Q3-24

+34

+18%

192

2261

Q3-23

Q3-24

(6)

648

(1%)

6421

9M-23

9M-24

INSURANCE SERVICES

POSTEPAY SERVICES

+64

+22

+7%

322

3441

Q3-23

Q3-24

+85

+9%

986

1,0711

9M-23

9M-24

+14

+12%

118

132

Q3-23

Q3-24

+20%

381

317

9M-23

9M-24

1. Adjusted excluding systemic charges estimate related to insurance guarantee fund and costs and proceeds of extraordinary nature. Please refer to slide 38 for a full reconciliation

6

CONTENTS

EXECUTIVE SUMMARY

Insurance

Services

Financial

Services

BUSINESS REVIEW

APPENDIX

Postepay

Services

Mail, Parcel &

Distribution

7

MAIL, PARCEL & DISTRIBUTION

MAIL AND PARCEL REVENUES AHEAD OF PLAN

€ m unless

EXTERNAL REVENUES

otherwise stated

+42

Parcel & logistics

+2%

2,797

+50

Mail

2,755

Other1

91

+6%

909

239

(62%)

860

(24%)

30

39

1,519

+4% 1,580

496

486

+2%

335 +15% 384

997

+13% 1,127

Q3-23

Q3-24

9M-23

9M-24

Distribution

1,215

1,377

3,870

4,120

Revenues2

Includes 135

of APM

ADJUSTED EBIT

+180

+29

n.m.

87

+19%

183

154

(93)

Q3-23

Q3-24

9M-23

9M-24

Includes 13

of APM

Q3 HIGHLIGHTS

  • Double digits parcel revenue growth supported by strong performance across all customer segments
  • Mail revenues up 2%, driven by business mix (higher volumes of registered mail) and repricing
  • Distribution revenues up 13% reflecting positive commercial trends and higher network remuneration
  • Solid EBIT trend reflecting top-line growth and continued cost discipline

1. Includes Tax Credit contribution, Digital Identities fees, vaccination plan related expense recovery, EGI, Poste, Patenti Via Poste, Philately, Poste Motori, Poste Welfare Service, Agile Lab and Sourcesense; 2. Includes income received by

8

other segments in return for use of the distribution network, Corporate Services and capex costs reimbursement

MAIL, PARCEL & DISTRIBUTION: VOLUMES AND PRICING

PARCEL VOLUME GROWTH REMAINS STRONG; MAIL MIX & REPRICING OUTPACING VOLUME DECLINE

€ m unless

PARCEL VOLUMES (M, PC)

PARCEL AVERAGE TARIFF (€/PC)

Q3 HIGHLIGHTS

otherwise stated

1

% delivered by

38%

40%

34%

39%

Parcel volumes growth

postal network

(0.34)

(0.33)

continues above

+42

(6%)

(6%)

expectations driven by

e-commerce and market

+15

+24%

5.18

4.84

5.26

4.93

219

share gains in B2C

+24%

76

177

Parcels delivered by

61

Postini reached 40%, in

line with business plan FY-24 target

Q3-23

Q3-24

9M-23 9M-24

Q3-23 Q3-24

9M-23 9M-24

MAIL VOLUMES (M, PC)

MAIL AVERAGE TARIFF (€/PC)

(133)

+0.09

+0.11

(8%)

+9%

+12%

(35)

1,711

1,578

1.04

1.00

0.95

0.89

(7%)

510

475

  • Parcel average tariff driven by higher growth of lower pricing items with lower unit cost
  • Higher mail tariff supported by favourable product mix and repricing

Q3-23

Q3-24

9M-23

9M-24

Q3-23

Q3-24

9M-23

9M-24

9

1. Parcel tariffs adjusted for COVID-19 related contract for PPE logistics and sennder Italia deconsolidation

FINANCIAL SERVICES

STRONG REVENUE GROWTH DRIVEN BY NII AND POSITIVE COMMERCIAL TRENDS

€ m unless

GROSS REVENUES

ADJUSTED EBIT1 & NET PROFIT

otherwise stated

Q3 HIGHLIGHTS

Active Portfolio

Net interest

Postal Savings

Transaction

Consumer Loans

Adjusted EBIT1

Management

income

Banking2

distribution3

Net profit

(6)

NII growth continues to be

driven by higher interest

AssetIntersegment

Management revenues4 [o.w. insurance]

+189

+13%

1,589

231

1,400

+11%

[176]

208

55

39

[155]

+15%

180

28

+96%

185

(3%)

430

374

+15%

+200

+4%

4,718

4,519

672

661

+2%

[514]

[509]

107

+33%

176

+33%

133

(5%)

546

45

573

1,202

+6%

1,275

+34

+18%

142

+23

+16%

226

192

169

146

(1%)

(5)

(1%)

648 642

483 477

rates and proactive portfolio

management

Postal Savings fees +15%

supported by improving net

flows

Transaction Banking fees

stable Y/Y

Improving trend in

Consumer Loans supported

by higher volumes and

higher fee margin

Asset Management fees

supported by higher AUM

566

+15%

648

1,675

+13%

1,892

+49%

(90%)

168

0

0

16

Q3-23

Q3-24

Q3-23

Q3-24

9M-23

9M-24

9M-23 9M-24

Adjusted EBIT1 trend

reflecting positive revenue

momentum

1. Adjusted excluding systemic charges estimate related to insurance guarantee fund and costs and proceeds of extraordinary nature. Please refer to slide 38 for a full reconciliation; 2. Includes

revenues from payment slips (bollettino), current accounts related revenues, fees from INPS and money transfer; 3. Includes reported revenues from custody accounts, credit cards and other revenues

10

from third party products distribution; 4. Includes intersegment distribution revenues

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Poste Italiane S.p.A. published this content on November 06, 2024, and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on November 06, 2024 at 10:47:10.069.