(Alliance News) - The board of directors of Poste Italiane Spa on Thursday released its preliminary consolidated results for fiscal year 2023,which closed with a net profit of EUR1.93 billion compared to EUR1.58 billion in the previous year.

The board also raised the prospect of distributing a dividend of EUR0.80 per share, bringing the total amount of dividends to EUR1.00 for 2023, a growth delta of 23 percent from EUR0.65 paid a year earlier.

Total revenues were EUR12.0 billion, up from EUR11.37 billion in the previous year.

Operating income was EUR2.62 billion, an improvement from EUR2.39 billion.

Invested financial assets (AFI) reached EUR581 billion in 2023, up EUR5 billion from December 2022, driven by a positive market effect of EUR9.0 billion.

"Net inflows were positively supported by the solid performance of the insurance sector and the recently launched Fixed Income Funds, once again confirming Poste Italiane as a safe haven and financial partner of choice for our customers' savings," Poste Italiane wrote in the released note.

Technical reserves of the insurance segment increased by EUR6.4 billion, supported by excellent results in terms of net inflows -- up EUR3.4 billion -- and a positive performance effect, with substantial net insurance flows having above market level.

Poste Italiane closed Wednesday's session in the green by 0.5 percent at EUR10.52 per share

By Maurizio Carta, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2024 Alliance News IS Italian Service Ltd. All rights reserved.