Poste Italiane Spa (PITAF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone, and welcome to Poste Italiana's first quarter 2026 results conference call. In a few moments, the CEO, Matteo Versante, will take you through some opening remarks as well as a short update on the team offer. Then our CFO, Camillo Greco, will cover the financials. As usual, the presentation will be followed by a Q&A session where you can ask questions either via phone or through our webcast platform. For any topics we won't be able to cover today, please do contact the Investor Relations team, who will be happy to follow up. With that, over to you, Matteo. Good morning, everyone. Our Q1 2026 results highlight a very strong start of the year and confirm the strength of our platform model. We delivered a record first quarter with revenues of $3.5 billion and a healthy portfolio. 8% year-on-year growth supported by all business units. On profitability, we achieved a record adjusted EBIT of 9.5 million, up 14% year-on-year, reflecting continued cost discipline in the current inflationary environment. Net profit reached 617, up 3% year-on-year. Commercial trends remained solid with 1.7 billion investment inflows coupled with strong momentum in postal savings and stable retail deposits. We continue to operate from a position of strength. The group balance sheet remained robust with our solvency ratio of 294% and a 341 million improvement in our net financial position generated in the quarter. which is 43 million more than in the first quarter of last year. Finally, digital payments once again grew above the market, underlying the strength of our platform and its ability to generate sustainable growth. On the back of this strong start of the year and a better-than-expected interest rate environment, we have raised our full year 26 adjusted EBIT guidan...