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    PST   IT0003796171

POSTE ITALIANE S.P.A.

(PST)
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Poste Italiane S p A : confident on 2021 goals after 32% quarterly profit jump

08/04/2021 | 02:34am EDT
FILE PHOTO: A signboard of Poste Italiane is seen hanging outside a post office in Rome

MILAN, Aug 4 (Reuters) - Poste Italiane is confident it will be able to meet its 2021 goals, the Italian postal services firm said on Wednesday, after beating expectations with a 32% rise in second-quarter operating profit boosted by its insurance division.

CEO Matteo Del Fante said the recent signing of a new labour contract, which increases visibility on costs related to the group's 125,000 employees, and the renewal of a three-year partnership with Amazon significantly reduce the execution risk attached to the group's strategic plan to 2024.

"We already have a clear visibility to meet 2021 guidance and have confidence in our numbers," Del Fante said in a statement.

The state-controlled conglomerate has forecast 2021 earnings before interest and taxes (EBIT) of 1.7 billion euros ($831 million) on revenue of 11.2 billion euros.

Asked about a possible upwards revision of the group's 2021 guidance, Del Fante told analysts in a conference call the group could decide to upgrade its targets in November, when publishing third-quarter results.

Poste Italiane reported EBIT of 429 million euros for the April-June period, above the 355 million forecast by analysts.

The group -- which includes insurance, financial and digital payment divisions beside its traditional mail and parcel business, reported revenue of 2.8 billion euros, up 18.7% from a year earlier.

($1 = 0.8423 euros) (Reporting by Elisa Anzolin; editing by Jason Neely and Bernadette Baum)


© Reuters 2021
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Analyst Recommendations on POSTE ITALIANE S.P.A.
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Financials
Sales 2021 11 321 M 13 276 M 13 276 M
Net income 2021 1 505 M 1 765 M 1 765 M
Net Debt 2021 98 885 M 116 B 116 B
P/E ratio 2021 10,5x
Yield 2021 4,76%
Capitalization 15 272 M 17 927 M 17 910 M
EV / Sales 2021 10,1x
EV / Sales 2022 9,28x
Nbr of Employees 122 315
Free-Float 34,9%
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Technical analysis trends POSTE ITALIANE S.P.A.
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TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus BUY
Number of Analysts 12
Last Close Price 11,85 €
Average target price 13,56 €
Spread / Average Target 14,4%
EPS Revisions
Managers and Directors
Matteo del Fante CEO, Director & General Manager
Guido Maria Nola Chief Financial Officer
Maria Bianca Farina Chairman
Mirko Mischiatti Chief Information Officer & Head-IT
Paolo Martella Chief Operating Officer
Sector and Competitors