
Collaboration between Webfleet and Schmitz Cargobull
5. November 2024
Liebherr has been building port cranes for 50 years
5. November 2024The first nine months of 2024 have developed very positively for Austrian Post, against the backdrop of a challenging economic environment. The weak economy is reflected in both a lower investment climate for companies and a subdued consumption behavior of private households.
(Wien) Positive impulses in 2024 included the increasing use of postal voting in Austria – especially during major elections such as the European Parliament elections or the National Council elections – as well as rising parcel volumes in Austria and Southeast and Eastern Europe due to ongoing online shopping. “A double-digit revenue growth – despite economic headwinds – shows that we have been able to take advantage of opportunities in our markets,” says the new CEO of Austrian Post, Walter Oblin, who took over the chairmanship of the board on October 1, 2024. “In addition to being a leader in quality, we aim to be a leader in innovation with new services, such as expanding self-service infrastructure or Sunday delivery,” Walter Oblin adds.
The revenue of the postal group increased by 13.6% to EUR 2,237.6 million in the first three quarters of 2024. Even excluding revenue from Turkey – which is characterized by high quarterly volatility due to the exchange rate development of the Turkish lira – the revenue increase was 10.7%. All divisions recorded an increase in the first nine months. The revenue of the Mail & Advertising division rose by 5.1% to EUR 911.0 million and is marked by the structural decline in addressed letter volume due to electronic substitution. Positive effects came from last year’s tariff adjustments as well as the elections in the first three quarters of 2024. Furthermore, a cautious advertising business can be observed, due to weak developments in certain retail segments. The Parcel & Logistics division generated a revenue increase of 19.1% to EUR 1,201.4 million during the reporting period. The parcel business developed very positively in all regions. Particularly in Turkey, strong revenue growth was recorded, influenced by high inflation and the exchange rate of the Turkish lira. Even excluding the parcel business in Turkey, revenue increased by 14.2%. The Branch & Bank division achieved a revenue of EUR 146.0 million (+23.1%) in the first three quarters of 2024. The ramp-up of customers at bank99 and the development of the interest rate landscape this year contributed positively to the division’s revenue.
Parcel Business in Turkey Contributes to Strong Results
Austrian Post also recorded very good results in the first three quarters of 2024. EBITDA increased by 7.9% to EUR 304.9 million, and earnings before interest and taxes (EBIT) rose by 10.7% to EUR 144.7 million. The Mail & Advertising division generated an EBIT of EUR 115.2 million in the first three quarters of 2024, up from EUR 102.1 million the previous year (+12.8%). This increase is attributed to adjustments in the product and pricing structure as well as the elections in the first three quarters of 2024. In the Parcel & Logistics division, an EBIT of EUR 64.7 million was achieved in the first three quarters of 2024, compared to EUR 60.7 million (+6.7%) the previous year. The parcel business in Turkey significantly contributed to the increase in results. The business performance in Turkey continues to be strongly influenced by inflation and currency conversion. A negative effect on results was caused by a valuation effect in the third quarter for the option liability for the remaining 20% of shares in Aras Kargo amounting to EUR 9.6 million. The Branch & Bank division recorded an EBIT of minus EUR 7.4 million in the first three quarters of 2024, compared to minus EUR 5.6 million the previous year. The decline is mainly due to special IT expenses related to the migration of the core banking systems of bank99. The net income for the first three quarters of 2024 was EUR 106.1 million (+16.9%). This results in earnings per share of EUR 1.48, up from EUR 1.30 in the previous year (+14.0%).
Profit Increase Expected for 2024
The international letter and parcel markets continue to develop in different directions. In many European countries, weak economic growth and the accompanying hesitant investment climate are affecting the purchasing behavior of companies and private consumers. This leads to a decline in letter and advertising mail, while parcel volumes are increasing due to the ongoing growth of e-commerce. According to current developments, the projected revenue for 2024 should rise to EUR 3 billion, depending on the exchange rate of the Turkish lira at the end of the year. Revenue growth on one hand, but also cost discipline and efficiency on the other hand, are necessary to ensure the targeted stability of Austrian Post. Austrian Post expects an increase in results for 2024. In a persistently stable macroeconomic environment in the company’s markets, an EBIT increase of at least 5% is expected, resulting in an anticipated EBIT of just over EUR 200 million.
Photo: © Austrian Post






