Poste Italiane Spa (PITAF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon, everyone, and welcome to Poste Italiana's second quarter and first half 2025 results conference call. In a few moments, the CEO, Matteo De Frante, will take you through some opening remarks, and then the CFO, Camillo Greco, will call the financials. As usual, the presentation will be followed by a Q&A session where you can ask questions either by phone or through our webcast platform. For any topics we won't be able to cover today, please do contact the IEF team. We will provide any qualifications you might require. With that, over to you, Matteo. And good afternoon, and thank you for joining us today for our Q2 and first round 2025 results call. It is great to have you. with us today as we share another record-breaking quarter of growth and an impressive first half of 2025 as we continue to deliver on our strategic plan. We have delivered record second quarter group revenues, EBIT and net income. All business units contributed to a solid 5% year-on-year top-line growth to 6.5 billion euros, EBIT growth at 12%, to over 1.7 billion euros. These results are yet another demonstration of the strength of our business model, seamless execution, continued ability to adapt and grow in a dynamic environment, supported by relentless cost discipline. Net profit at 1.2 billion is up a remarkable 14% compared to the same period of last year. Since the beginning of the year, we registered strong net inflows in investment products, confirming our robust commercial performance in insurance product capital with record quarterly net interest margin. Our balance sheet remained extremely solid, supporting our upgraded dividend policy. Solvency II ratio remains well above 300%, including the impact of the first 500 million of additional remittance from Poste Vita to the c...