"Opportunities seized"
Austrian Post achieved earnings growth of 10.7% in 9 months
Austrian Post earned well in the first nine months of 2024. The operating result (EBIT) increased by 10.7 percent to EUR 144.7 million compared to the same period of the previous year, while earnings before interest, taxes, depreciation and amortization (EBITDA) rose by 7.9 percent to EUR 304.9 million.
Turnover increased by 13.6% to 2.237 billion euros. Effects from elections and the currency situation of the Turkish lira had a positive impact, according to Swiss Post.
Growth in letters, parcels and in the banking sector
The partly state-owned, listed company recorded growth of 5.1 percent to EUR 911.0 million in letter and direct mail in the first three quarters of this year, while the Parcel & Logistics sector grew by 19.1 percent to EUR 1.201 billion. The Retail & Bank sector grew by 23.1 percent to EUR 146.0 million. Operating free cash flow amounted to EUR 229.3 million, while equity totalled EUR 710.7 million as at September 30.
Personnel expenses amounted to 1.026 billion euros in the first three quarters of 2024, which corresponds to an increase of 15.7 percent year-on-year. According to Austrian Post, the change is the result of an increase in employees outside Austria on the one hand and the collective agreement salary adjustment both in Austria and internationally on the other.
Post CEO: "Opportunities well utilized"
"Double-digit revenue growth - despite economic headwinds - shows that we were able to make good use of the opportunities in our markets," emphasized Walter Oblin, the new CEO of Austrian Post, today. Regarding the outlook, a press release issued by Post AG on Tuesday stated that revenue for the full year 2024 is expected to reach EUR 3 billion. EBIT is expected to increase by at least five percent this year. Revenue of over three billion euros is targeted for 2025.
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