Home » Business » Poste Italiane balance sheet, 2021 accounts. 2022 dividend balance of € 0.405

Poste Italiane balance sheet, 2021 accounts. 2022 dividend balance of € 0.405

Poste Italiane’s management has improved the financial targets for 2022 and has revised the dividend policy for the next few years

Italian post communicated the economic and financial results for 2021, the year ended with increasing revenues and profitability. The results exceeded the consensus of the analysts.

Furthermore, the management has financial targets for 2022 improved and has revised dividend policy for the next few years.

In detail, Poste Italiane ended 2021 with revenues for 11.22 billion euro, an increase of 6.6% compared to the 10.53 billion achieved in the previous year. The consensus of the analysts (published on the company’s website) indicated a turnover of 11.19 billion euros.

The Operating income, which rose from 1.52 million to 1.85 billion euros (+ 21.1%); the result compares with the 1.82 billion of the analyst consensus.

Poste Italiane ended 2021 with a Net income of 1.58 billion euros, compared to 1.21 billion recorded in 2020 (+ 31%). The consensus of analysts indicated earnings per share of 1.56 billion euros. Earnings per share were € 1.214.

In the solo fourth quarter 2021 revenues fell 6.4% to € 2.78 billion, while net profit jumped 31.7% to € 405 million. Quarterly results were better than analysts’ consensus (posted on the company’s website), which indicated revenues and net profit of € 2.74 billion and € 387 million, respectively.

A fine 2021 la net financial position it was positive for 7.16 billion euros, compared to 6.86 billion at the beginning of the year.

Always at the end of the year Total Financial Assets they amounted to € 586 billion, up thanks to net inflows of € 15.1 billion and a positive effect on the market values ​​of assets of € 2.3 billion.

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The management of Poste Italiane communicated the financial estimates for 2022following the update of the strategic plan for 2024.

In detail, the company expects to close the current year with revenues of € 11.7 billion, an increase of 1.1% compared to the previous guidance envisaged in the strategic plan of € 11.6 billion. The operating result is indicated at 2 billion compared to the previous estimate of 1.9 billion. The net profit forecast has been increased from 1.3 billion to 1.4 billion euros.

In addition, the management of Poste Italiane has improved dividend policy for the next few years. Annual growth now stands at 7%, up from 6% originally, reflecting the performance of the underlying assets. Consequently, Poste Italiane’s dividend should rise to € 0.72 with reference to the 2024 financial statements.

The management of Poste Italiane has proposed the distribution of dividend 2022 (relating to the 2021 financial year) for a total of € 0.59 per sharean increase of 21% compared to the amount distributed last year (€ 0.486) and one year ahead of the previous policy envisaged in the strategic plan.

Poste Italiane recalled that in November 2021 an interim dividend for 2021 equal to 0.185 euro per share had been paid. Consequently, the coupon balance will be € 0.405 and it will be detached Monday 20 June 2022with payment on 22 June.

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