Poste Italiane closed the first 9 months of 2019 with growth in all its economic-financial aggregates. Distribution of an interim dividend approved </p><div>
<! - <EdIndex> -><p><img style="float: left;" src="http://www.soldionline.it/pictures/2019/05/09/poste-italiane-palazzo_1.jpeg" alt="poste-Italian-palazzo_1" width="200" />Poste Italiane closed the first 9 months of 2019 with <strong>a growth of all its economic-financial aggregates. </strong>The data is in line with the 2019 objectives. The group has approved the distribution of an interim dividend.<strong> <br /></strong>
ITALIAN POSTS, ACCOUNTS 9 MONTHS 2019
Poste Italiane registered in the first 9 months of 2019 revenues of 8.09 billion euros, up 1.7% compared to the first 9 months of 2018. Normalized revenues amounted to 7.8 billion, up 3.7% compared to the same period of the previous year.
On the basis of operating costs up 1.6% on an annual basis, the operating profit amounted to 1.54 billion euros, up 2.1% compared to the 9 months of 2018. The normalized one reached the 1.29 billion euros, up 10.5% compared to the same period last year.
The period thus ended with a net profit of € 1.08 billion, up 2.6% compared to the first 9 months of 2018. Earnings per share amounted to € 0.833.
POSTE ITALIANE, DEPOSIT ON THE 2020 DIVIDEND
Poste Italiane has formalized the distribution of an advance on the 2020 dividend (relating to the 2019 financial statements), in line with the new policy announced on the occasion of the dissemination of the half-year results. The company will assign a coupon of € 0.154 per share, which at the current price levels of Poste Italiane shares guarantees a return of 1.4%. The dividend will be removed on Monday 18 November and paid on 20 November. Poste Italiane has specified that the down payment of the coupon is equal to one third of the dividend per share scheduled for 2019 from the 2022 delivering plan (0.463 euros).
POSTE ITALIANE, THE THIRD QUARTER 2019
The third quarter ended with revenues up 1.8% to 2.57 billion, an operating result improving by 0.8% to 459 million and a net profit of 320 million, down 0.4% compared to the financial statements for the first 9 months of 2018. Earnings per share were thus confirmed at € 0.246.
THE CONSENSUS ON THE THIRD QUARTER 2019
The analyst consensus, published on the company's website and updated to 22 October, indicated for the third quarter a turnover of 2.55 billion euros (minimum of 2.52 billion, maximum of 2.6 billion euros), for the period July-September, compared to 2.52 billion obtained in the same months of 2018. The Operating income it was estimated at 431 million euros (with a margin of 16.9%), while theNet income it should have been around 300 million euros.
POSTE ITALIANE, BALANCE SHEET AGGREGATES AT THE END OF SEPTEMBER 2018
At 30 September 2019 the total total financial assets amounted to 540 billion euros, up 26 billion from December 2018, thanks to "market dynamics and positive net inflows.
Also at the end of September 2019 le cash and cash equivalents amounted to 1.99 billion euros.
POSTE ITALIANE, THE SOLVENCY II
At the end of September 2019, the Solvency Index (Solvency II) of the Poste Vita group it stood at 295% (in June 2019 it was equal to 242%), above the ambitions of the group management to maintain a level of 200% within the plan period.
The solvency index (Solvency II) increased following the reduction in the yield on BTPs, which more than offset the further reduction in risk-free interest rates. The ongoing diversification of the investment and product portfolio will contribute to the resilience of the solvency index (Solvency II) over the plan period.
ITALIAN POSTEE, ESTIMATES FOR THE FUTURE
Poste Italiane has confirmed that it will continue to engage in the implementation of the objectives outlined in the five-year Deliver 2022 plan. With specific reference to 2019, the company will focus on the objectives of the 2019 budget approved by the board of directors on March 19, 2019 and presented to the market.
In detail, Poste Italiane expects to close the current year with revenues of 11 billion euros and an operating profit of 1.6 billion. Margins are estimated to grow from 14% to 15%, thanks to cost containment actions. Net income is estimated at 1.1 billion euros.
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