POSTE ITALIANE

Q4 & FY-22 FINANCIAL RESULTS

30 MARCH 2023

A PLATFORM COMPANY AT WORK

CONTENTS

EXECUTIVE SUMMARY

2022 EBIT AT €2.3BN IN A CHALLENGING ENVIRONMENT - MORE THAN DOUBLING 2017

  • ● REVENUES +6% IN FY-22 SUPPORTED BY FINANCIAL & INSURANCE SERVICES, PAYMENTS & MOBILE

  • ● CONTINUED COST DISCIPLINE SUPPORTED BY WORKFORCE TRANSFORMATION AND MANAGEMENT

    ACTIONS MITIGATING INFLATION IMPACT

  • ● RECORD HIGH EBIT AT €2.3BN IN FY-22, DELIVERING GUIDANCE UPGRADED IN NOV-22

  • ● PROPOSED DISTRIBUTION OF €0.65DPS ON FY-22 (+10% Y/Y), BALANCE OF €0.44 TO BE PAID IN JUNE-23

Q4 & FY-22 RESULTS OVERVIEW

RECORD HIGH EBIT OF €2.3BN IN 2022

€ m unless otherwise stated

REVENUESTOTAL COSTSEBITNET PROFIT1

1. 172 excluding Nexi stake revaluation of 219, positive tax one-offs of 14 for Q4-21, 1,335 excluding Nexi stake revaluation of 219, positive tax one-offs of 26 for FY21

BASELINE EBIT OF 2.36BN IN 2022 - EXCEEDING GUIDANCE

A VISIBLE BASELINE FOR OPERATING PROFITABILITY GOING FORWARD

€m unless otherwise stated

FROM STATED TO BASELINE EBIT

2022 EBIT stated2,291

HR costsSubsidies on energy costsMkt effect & other (Insurance)One-off net provisionsTax credit one-off non-cash provision

2022 EBIT Baseline

2,358

HIGHLIGHTS

  • ● Lower commercial incentives and early retirement charges vs 2022 plan - early retirement funds of c.350m available as of Dec-22

  • ● Subsidies on energy costs granted in 2022

  • ● Insurance investment margin benefitting from inflation-linked bonds and release of other reserves ahead of IFRS 17 implementation

  • ● Charges and releases on single tickets one-off provisioning

  • ● One-off non-cash provision on tax credits - a conservative approach on the overall 9bn investment

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Poste Italiane S.p.A. published this content on 30 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 March 2023 05:20:08 UTC.