Poste Italiane Spa (PITAF) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon and welcome to Posse Italiane's first quarter 2025 results conference call. In a few moments, the CEO, Matteo Asante, will take you through some opening remarks, and then the CFO, Camillo Greco, will cover the financials. As usual, after the presentation, we will have a Q&A session where you can ask questions either by phone or to our webcast platform. For any topics we won't be able to cover today, please contact the Investor Relations team. We'll provide any clarifications you might require. So with that, over to you, Matteo. Good afternoon, everyone. And thank you for joining us today for our Q1 2025 results call. We're pleased to report a very strong start of the year with record first quarter revenues and double-digit year-on-year EBIT growth. These results are yet another demonstration of the solidity of our business model discipline execution, and our continued ability to adapt and grow in a dynamic environment. All business units contributed to a solid 5% year-on-year revenue growth, totaling 3.2 billion euros. This performance was driven by strong net interest income, continued momentum in parcel, strong net inflows in investment products and post-paid services ecosystem growth. On the profitability front, adjusted EBIT came in at $796 million, up 13% year-on-year, with a net profit of $597 million, a remarkable 19% increase compared to the same period last year. Ongoing expense management remains a key focus as we continue to successfully mitigate inflationary impacts while cost increase came from expanding businesses. Our balance sheet remains extremely solid, supporting our recently upgraded dividend policy. Solvency to ratio remains well above 300%, including the dividend accrued on Q1-25 results and the impact of the first 500 million of ...