Poste Italiane SpA (MIL:PST)
€ 13.475 -0.07 (-0.52%) Market Cap: 17.44 Bil Enterprise Value: -11.23 Bil PE Ratio: 8.78 PB Ratio: 1.46 GF Score: 59/100
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Q1 2024 Poste Italiane SpA Earnings Call Transcript

May 15, 2024 / NTS GMT
Release Date Price: €12.39 (-1.31%)
Giuseppe Esposito
Poste Italiane S.p.A. - Head of IR

Good afternoon, and welcome to Poste Italiane's First Quarter 2024 Results Conference Call. Matteo Del Fante, our CEO, will take you through some opening remarks; and then Camillo Greco, our CFO, will cover the financials. (Operator Instructions)

Over to you, Matteo.

Matteo Del Fante
Poste Italiane S.p.A. - CEO & Director

Thank you, Giuseppe. Good afternoon, and thank you for joining us. I'm pleased to report that Poste Italiane had a strong start of the year with overall group revenues at over EUR 3 billion, with all business segments in line or above targets. Our cost base management remains a key focus as we continue to successfully mitigate inflationary impacts.

EBIT for the quarter is EUR 706 million, up 14% versus last year if we exclude the higher contribution of active portfolio management revenues in the first quarter of 2023. Commercial trends have been supportive in all businesses as customers continue to see Poste as the safe haven for their savings and the go-to place for

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