Poste: Covid impact since March, -30% quarter profit

Poste Italiane sees the "2020 financial performance impacted in March by the lockdown" but confirms "the main long-term trends", and the "strategic trajectory" of the 'Deliver 2020' plan which is indeed "accelerated by emerging trends". The impact on the accounts, since March, of the Covid-19 emergency weighs on the first quarter which closes with a net profit of 306 million, down 30.2% compared to the same period a year earlier . Profitability slows with an operating result (Ebit) down by 28.6% to 441 million. Turnover holds: -3% to 2.755 billion with an increase in revenues from payments and mobile and insurance services which mitigated the lower revenues from financial services and correspondence.

"Although the 2020 performance was impacted by the lockdown, recent events have accelerated key emerging trends and confirmed the strategic direction of the Deliver 2022 Plan. Poste Italiane has faced the crisis with a robust financial profile, with a solid balance sheet and a strong ability to generate liquidity thanks to our profitable business, "says the CEO. by Poste Italiane, Matteo Del Fante, commenting on the results of the first quarter on which the impact of the Covid-19 emergency has weighed since March. "Throughout its history - he says - Poste Italiane has always been present for its customers and for the community. During this crisis we have continued to support all our stakeholders, strengthening our reputation. Poste is a system operator; our role has become more important and this will result in a stronger and more sustainable business. Together, we will be up to the challenge. " And the company underlines: "We support our communities as a strategic pillar that provides essential services".