HIGHLIGHTS
Operating results
The performance in the first nine months of 2019 has resulted in consolidated operating profit of €1,540 million, an increase of 2.1% compared with the same period of the previous year (€1,509 million).
CONSOLIDATED STATEMENT OF PROFIT AND LOSS AS OF 30 SEPTEMBER 2019
| For the nine months ended 30 September | ||||
|---|---|---|---|---|
| Results of operations (€m) | 2019 | 2018 | Increase/(decrease) | |
| Revenue | 8,089 | 7,951 | 138 | 1.7% |
| of which: | ||||
| Mail, Parcels & Distribution | 2,555 | 2,590 | (34) | -1.3% |
| Payments, Mobile and Digital | 477 | 434 | 43 | 9.8% |
| Financial Services | 3,838 | 3,879 | (42) | -1.1% |
| of which gross capital gains | 261 | 404 | (142) | -35.3% |
| Insurance Services | 1,219 | 1,048 | 171 | 16.3% |
| Costs | 5,974 | 6,037 | (63) | -1.0% |
| of which: | ||||
| Total personnel expenses | 4,121 | 4,151 | (30) | -0.7% |
| of which ordinary personnel expenses | 4,109 | 4,123 | (14) | -0.3% |
| of which early retirement incentives | 13 | 29 | (15) | -52.8% |
| of which disputes and other extraordinary items | (1) | 0 | (1) | 604.9% |
| Other operating costs | 1,853 | 1,886 | (32) | -1.7% |
| EBITDA | 2,115 | 1,915 | 200 | 10.5% |
| Depreciation, amortisation and impairments | 575 | 406 | 169 | 41.5% |
| EBIT | 1,540 | 1,509 | 32 | 2.1% |
| EBIT Margin | 19.0% | 19.0% | ||
| Finance income/(costs) | 23 | 43 | (21) | -47.7% |
| Profit before tax | 1,563 | 1,552 | 11 | 0.7% |
| Income tax expense | 480 | 496 | (16) | -3.3% |
| Net profit | 1,083 | 1,056 | 27 | 2.6% |
| Earnings per share (€) | 0.83 | 0.81 | 0.02 | 3.0% |
TOTAL REVENUE BY OPERATING SEGMENT FOR THE NINE MONTHS ENDED 30 SEPTEMBER
(DATA IN MILLIONS OF EURO)
The Group’s total reported revenue of €8.1 billion is up €138 million (1.7%) compared with the first nine months of 2018. This reflects the positive contribution of the Insurance Services Strategic Business Unit, which contributed €1,219 million to total revenue.