The SBU’s performance in 2024 was solid and improved compared to 2023, driven mainly by revenue in the payments segment due to the growth of e-commerce and the increasing use of payment cards, as well as the new energy business.
Results and KPIs
| POSTEPAY SERVICES (€m) | 2024 | 2023 | Changes | |
|---|---|---|---|---|
| External revenue* | 1,585 | 1,447 | +138 | +9.5% |
| Revenue from other sectors* | 274 | 264 | +10 | +3.8% |
| Total revenue* | 1,858 | 1,710 | +148 | +8.6% |
| Costs* | 773 | 753 | +20 | +2.7% |
| Costs vs other sectors | 557 | 518 | +39 | +7.5% |
| Total costs* | 1,330 | 1,271 | +59 | +4.6% |
| EBIT | 529 | 440 | +89 | +20.3% |
| EBIT Margin % | 28.5% | 25.7% | ||
| NET PROFIT | 394 | 338 | +56 | +16.7% |
*This item takes into account the management reclassification of costs related to the purchase of raw materials and the transportation of electricity and gas, which are classified as a direct reduction of revenue in the energy segment. Please refer to paragraph 7.2 Other information for a reconciliation with the respective accounting data.
| OPERATING KPIs | 2024 | 2023 | Changes | |
|---|---|---|---|---|
| Electronic money and payments |
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| Total value of card transactions ("on us" and "off us") (€m)1 | 87,125 | 80,275 | +6,851 | +8.5% |
| Total value of card transactions ("off us") (€m)2 | 69,676 | 64,304 | +5,372 | +8.4% |
| Number of cards (m)3 | 29.8 | 29.6 | +0.2 | +0.7% |
| of which Eco-sustainable Cards (m) | 16.3 | 10.6 | +5.7 | +53.8% |
| of which Prepaid Postepay Cards (m) | 22.4 | 22.1 | +0.2 | +1.1% |
| of which Postepay Evolution cards (m)4 | 10.5 | 10.0 | +0.5 | +5.0% |
| Number of card transactions (m) | 2,989 | 2,680 | +309 | +11.5% |
| of which number of e-commerce transactions (m)5 | 713 | 607 | +106 | +17.4% |
| Incidence of Postepay top-ups on new channels6 (%) | 81% | 77% |
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| TLC |
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| SIM PosteMobile landlines and mobile telephones (stock in thousands) | 4,848 | 4,732 | +117 | +2.5% |
| of which mobile Sim (stock in thousands) | 4,385 | 4,326 | +59 | +1.4% |
| of which Casa Sim (stock in thousands) | 463 | 406 | +57 | +14.1% |
| of which Fibra Sim (stock in thousands) | 204 | 143 | +61 | +42.8% |
| Energy |
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| Active customer base (in thousands) | 709 | 350 | +359 | +102.7% |
1 Transactions relating to payments made with Postepay Debit and Postepay on internal and external payment circuits (“on us” and “off us”).
2 Transactions relating to payments made with Postepay Debit and Postepay on external payment circuits (“off us”).
3 Includes PostePay cards and debit cards.
4 Including business customers and Postepay Connect.
5 Includes e-commerce transactions + web (on Poste Italiane’s digital properties). Incoming transfers are excluded from the perimeter.
6 Includes transactions carried out on third-party networks (Post Office Point Network, Tobacconists, HORECA and other LIS points) and digital channels (Poste Italiane Retail,
Business and Other Digital Channel Properties).
Titolo: Ricavi da mercato
| Categoria | 2022 (milioni di euro) | 2023 (milioni di euro) | Variazione (in milione di euro) | Variazione % |
|---|---|---|---|---|
| Energia | 0 | 17 | n.s. | |
| TLC | 319 | 331 | +3,8% | |
| Incassi e Pagamenti | 233 | 381 | +63,2% | |
| Moneta | 582 | 717 | +23,2% | |
| Totale | 1.134 | 1.447 | +312 | +27,5% |
| Categoria | Q4 2022 (milioni di euro) | Q4 2023 (milioni di euro) | Variazione (in milioni di euro) | Variazione % |
|---|---|---|---|---|
| Energia | n.s. | 10 | n.s. | |
| TLC | 82 | 84 | +1,8% | |
| Incassi e Pagamenti | 89 | 107 | +20,2% | |
| Moneta | 178 | 198 | +11,3% | |
| Totale | 357 | 399 | +42 | +11,8% |
Postepay payment ecosystem and everyday needs at the heart of customer value creation and full development of the Open Payment Ecosystem.
- Consolidation of leadership in digital payments and evolution towards an Instant Open Payment Ecosystem, also for connecting retail and micro-small business customer ecosystems
- Focus on growth in the Fibre segment and retention of Mobile business
| SEGMENT | OPERATING REVIEW |
|---|---|
| ENERGY | The energy offer is characterised by being 100% green for electricity (thanks to an offer with electricity coming only from Italian renewable sources certified by guarantees of origin from the Gestore Servizi Energetici) and 100% CO2 offset for gas. During 2024, the commercial offer benefited from the end of the protected gas market first and then the electricity market, and, in continuity with the final months of 2023, focused on acquiring new customers and optimising the contract renewal process; during the year, PostePay also optimised the new “Gas Vulnerability Protection Service” offer136 and activated the supply of electricity to Poste Italiane Group companies, thus completing the internalisation of the supply of gas and power commodities. Please also refer to the section “Group’s omnichannel platform” for supply management functionalities via the Poste Italiane app. |
| ELECTRONIC MONEY/COLLECTIONS AND PAYMENTS | In the area of acquiring, in order to develop the Small Economic Operator (POE) target, Postepay adhered, for the physical POS product, to the POS Protocol by launching a promotion on micro-payment fees. With the aim of innovating and completing the offer in the area of acquiring, the smartPOS service was also made available137. |
| During the year, we cooperated with the partner UNIPOLMove to extend the On Board Unit (OBU) pick-up service138 on the PuntoLis network, entering into contracts with roughly 5,000 affiliated points authorised to provide the UNIPOLMove service. | |
| As of the end of January 2024, the delivery of Inclusion Cards, the prepaid payment cards for households benefiting from the Assegno di Inclusione (ADI)139 started at the Post Office network. In 2024, PostePay continued to support government initiatives aimed at supporting specific population groups with the production and management of the Carta Postepay Borsa di Studio, the Carta IoStudio Postepay, the Carta Dedicata a Te and the Carta di Inclusione. | |
| In the course of 2024, an evolutionary programme of the Carta Postepay Green card dedicated to the target group of minors was launched, which included raising the limits of the card140. This programme will continue in 2025 with further actions to develop the offer, as well as actions to foster continuity of the customer relationship, when the customer comes of age. | |
| In order to improve the Postepay Evolution card handling experience, as of 7 October 2024, the gradual enabling in Post Offices of the card replacement functionality with immediate delivery began, which will continue during 2025. At 31 December 2024, 110 Post Offices were authorised for the service. | |
| As part of the improvement issuing programme during the period, the extension of debit and prepaid card operations to the night-time period was finalised through the implementation of down-option rules142 to guarantee e-commerce transactions and ATM withdrawals during times when the systems are inoperative (e.g. overnight). | |
| FIBRE | During 2024, PostePay continued its multi-channel communication strategy (physical channel, web, e-mail, etc.) on the PosteCasa Ultrafast offer range and launched actions aimed at promoting its fibre connections in a number of small municipalities. |
| As of June 2024, in line with the targets communicated at the presentation of the new Strategic Plan 2024-2028 “The Connecting Platform”, for fixed network offers PosteCasa Ultrafast and Ultrafast Start, the new Fibre To The Home (FTTH) speed profile is available which allows speeds of up to 2.5 Gigabits per second. |
136 Natural gas supply service to which vulnerable customers are entitled made available from January 2024, pursuant to Law Decree no. 115 of 9 August 2022. The offer envisages the application of economic and contractual conditions regulated by ARERA (Regulatory Authority for Energy Networks and the Environment); no additional services or conditions are envisaged.
137 The service includes the acceptance of digital payments through an advanced terminal and the possibility of providing specific services for the hotel target group.
138 It is a device using toll collection technology for the automatic collection of the toll aimed at drastically reducing toll payment times; in fact it is no longer based on direct payment by the driver of the vehicle at the time of passage but on recognition of the vehicle passing through.
139 National measure to combat poverty, fragility and social exclusion of the weaker sections of the population through paths of social inclusion, as well as training, employment and active labour policy, established as of 1 January 2024 by Article 11 of Law Decree no. 48 of 4 May 2023, converted with amendments by Law no. 85 of 3 July 2023.
140 The card’s limit increased from €1,000 to €3,000, the daily withdrawal limit from €100 to €500, the monthly withdrawal limit from €1,000 to €1,500, the daily POS payment
limit from €150 to €1,000, and the monthly limit from €1,000 to €1,500. The annual (incoming) top-up limit was reduced from €50,000 to €15,000.
141 It is a customer experience programme that consists of listening to the customer, analysing the feedback received and developing periodic and continuous improvement
actions.
142 The down option allows withdrawal or payment transactions even in the absence of a telematic connection.