Poste Italiane Posts €10.2 Billion in Nine-Month Revenue as Profit Grows and Dividend Rises
Key Facts
Poste Italiane said on November 12 that revenue reached a record €10.2 billion in the first nine months of 2026, up 5.4% year on year. Third-quarter revenue alone was €3.3 billion, up 4.5% from the same period last year. The company said adjusted net profit for the period reached €1.8 billion, up 3.8%, while third-quarter adjusted net profit was €629 million, up 4.2%. Adjusted operating profit rose to €2.7 billion in the nine months, an annual increase of 6.6%. The company attributed the improvement in operating profit to higher revenue and continued cost discipline, in results that combine business growth with increased returns to shareholders.
Revenue grew across all four business areas reported by the company, though at varying rates. Financial services revenue was €4.4 billion, up 3.7% year on year. Insurance services revenue was €1.5 billion, up 10.0%, the fastest growth among the areas cited. PostePay services generated €1.3 billion, an increase of 7.0%. Revenue from mail, parcels and distribution was €3.0 billion, up 5.2% over the period. The figures show that growth in insurance and PostePay outpaced financial services and mail, while the increase in operating profit was consistent with the company’s emphasis on cost control.
For comparison, group revenue in the first nine months of 2025 was €9.6 billion, up 4.5%, while third-quarter revenue at the time was €3.2 billion, up 3.9%. In the same period of 2025, adjusted operating profit was €2.515 billion, up 10.5%, and net profit reached €1.773 billion, an increase of 11.2%. The reported 2026 results show faster annual revenue growth than in the comparable period, while adjusted operating profit and net profit grew more slowly than their rates in the first nine months of 2025. For the previous financial year, the company reported revenue of €13.12 billion in 2025, compared with €12.59 billion in 2024. Annual adjusted operating profit also rose from €2.96 billion in 2024 to €3.24 billion in 2025, according to the company’s investor data.
The board approved an interim dividend of €0.43 per share, up 7.5% year on year, for a total of €686 million, an increase of 32%. The company set November 25, 2026, as the payment date. It said the increase in the total dividend reflects a higher share count following completion of the Telecom Italia offer, as well as the higher per-share dividend. The interim dividend in the nine-month 2025 results was €0.40 per share, totaling €518 million, up 21% year on year. For the full year, the dividend per share was €1.25 in 2025, compared with €1.08 in 2024, while the payout ratio was 73% in 2025. The 2026 dividend policy targets a payout ratio above 70% of net profit, excluding Telecom Italia’s contribution.
Poste Italiane reaffirmed its upgraded 2026 standalone guidance, targeting adjusted operating profit of €3.4 billion and adjusted net profit of €2.3 billion. The guidance follows nine-month results of €2.7 billion in adjusted operating profit and €1.8 billion in adjusted net profit. The company thus maintained its full-year targets, which it said it had reaffirmed in its results statement. In its annual disclosures, the company linked the business areas’ contribution to achieving its 2025 targets to business dynamics it described as robust, cost discipline and consistent returns from its investment portfolio. The reaffirmed 2026 guidance came alongside the interim dividend announcement as the group prepares to begin including Telecom Italia’s operating results in its accounts.
Telecom Italia’s balance sheet began to be consolidated as of September 30, 2026, while its profit and loss results will be consolidated from October 1. Poste Italiane said pro forma leverage remained below 1.5 times. The company reaffirmed a target for annual synergies of at least €0.7 billion once fully realized, including cost savings of at least €0.5 billion by 2028. It also targets more than €0.2 billion in operating profit from additional revenue starting in 2029. The different dates for consolidating the balance sheet and operating results mean the period’s accounts reflect the balance sheet’s inclusion before profit and loss results begin to be recorded. The company said management would focus on integrating Telecom Italia and preparing the combined group’s plan, scheduled to be presented in the first quarter of 2027.
In stock trading, EL7 data showed PITAF closing at 26.92 on November 10, 2026, without specifying the pricing currency. This reading predates the results announcement issued on November 12 and therefore is not the closing price on the day the statement was released. The developments announced by the company combine growth in revenue and adjusted profit with a higher interim dividend, alongside the transition to consolidating Telecom Italia’s results. The company set November 25, 2026, as the dividend payment date. The announced date for presenting the combined group plan is the first quarter of 2027, while the synergy targets extend to 2028 and 2029.