Poste Italiane grows with policies and payments. Revenues over 8 billion (+ 1.7%)

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Poste Italiane closed the 9 months substantially, with a 1.7% increase in revenues, to 8 billion, and a 2.6% profit growth, to 1 billion. Based on the numbers approved yesterday by the board, the group led by Matteo Del Fante is preparing to distribute a dividend of € 0.154 on November 20 (compared to an overall coupon of € 0.463 per share scheduled for the end of the year). The operating result showed an improvement of 2.1 per, to 1.54 billion, despite the group also recorded an increase in total costs during the period, equal to 6.5 billion (+1.6 per cent) even if stresses the continuation of the process of reducing personnel costs and an increase in other cost items to support growth. Investments also grew strongly, amounting to 389 million in the period with an increase of 49.6 percent.

Payments are on the rise, those with cards are flying (+ 16.7%)
Also the assets under management increased, reaching 540 billion (+26 billion compared to the end of December 2018). Driving the development is once again the insurance sector, which shows a 16.5% increase in revenues (1.2 billion; + 24.5% net profit to 519 million). The mobile and digital payments sector also shows considerable liveliness: + 9.8% in revenues (to 477 million), with a 16.7% increase in card payments (247 million) in a period in which it is marked the attention of the government to try to push the development of traceable payments. Mobile telephony services, which are closely linked to the payment system, are 6% more. Financial services as a whole show a decrease of 1.1 percent (3.8 billion), reflecting a 1% decrease in commissions related to the distribution of postal savings. At the same time, however, commissions related to asset management grew by 12.4%, “demonstrating – explains the note released by the company – the success of our innovative controlled open management platform for both savings and placement on behalf of third parties of personal loans and mortgages ".

The ad Del Fante: we will reach the 2019 targets
The correspondence sector continues to decline (-1.3% revenues, -97.8% the operating result) even if the parcel sector grows (+ 13%), mitigating the inexorable decline in traditional deliveries. "The business model of Poste Italiane, diversified and unique, generates continuous growth and we are on the right track to reach the goals of 2019 in all business segments – commented the CEO, Matteo Del Fante -. We are becoming a dynamic company with a strong digital native component, which actively supports the lives of our 35 million customers "