Poste Italiane Spa (PITAF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone, and welcome to Poste Italiane's second quarter and first half 2026 results conference call. In a few moments, our CEO, Matteo Del Fante, will take you through some opening remarks, including an overview of our key strategic initiatives. Then, our CFO, Camillo Greco, will give an update on the team transaction and deep dive on financials. As usual, the presentation will be followed by Q&A session where you can ask questions. Thank you Giuseppe and thank you all for joining us. Our first half results mark another record for Poste Italiane and confirm once again the strength and resilience of our platform business model. We're reporting record first half revenues at 6.8 billion, up 6%, with healthy growth across all business units. Profitability reached a new high, adjusted EBITDA of 1.8 billion, up 7% year-on-year, reflecting solid top-line growth and continued cost discipline. Net profit came in at 1.2 billion, up 4%. Commercial momentum remained strong, with 2.7 billion investment net inflows, improving postal saving trends and stable retail deposits, taking total financial assets to a remarkable 613 billion euros. Our balance sheet remains rock solid with a solvency to ratio at 303% and almost 900 million cash generated in the first six months. These results reinforce our confidence in the rest of the year. We confirm our 2026 send-alone guidance and dividend policy supported by the consistent delivery of our strategy and strong business momentum. Moving to slide 4. Today is not only about record results. We're presenting also, and this is very important, a clear roadmap for the next phase of our platform company journey. We have agreed the term sheet for the new 2027-2030 Postal Savings Agreement with CDP. providing further visibility on thi...