Austrian Post has announced its Q1 2021 results revealing improved revenue and earnings.
Financial highlights
Positive parcel development in Austria, CEE/SEE and Turkey; mail business negatively impacted
Parcel volumes up by 33.5 % in Austria, +39 % in South East and Eastern Europe, +37 % in Turkey
Letter mail volumes –6 %, direct mail –8.5 %Q1 revenue increase of 28.5 % (+12.0 % organic growth) to EUR 646.1m
Structural change: Mail Division and Parcel & Logistics Division now have the same size
Mail –2.1 % to EUR 311.0m
Parcel & Logistics +85.5 % to EUR 323.7m
Retail & Bank +27.3 % to EUR 16.7m
Earnings increase driven by parcel growth
EBITDA +51.5 % to EUR 99.0m
EBIT +79.2 % to EUR 59.8m
Mail –3.0 % to EUR 45.5m
Timewise Power Climbers 2021 managementtoday.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from managementtoday.co.uk Daily Mail and Mail on Sunday newspapers.
14.03.2021
Austrian Post: Austrian Post Group revenue rose by 8.3 % to Euro 2,189.2 mn in 2020. This revenue increase can be attributed to the good development in the parcel business (+44.4 %): while the Mail Division registered a disproportionately drop in revenue of 7.4 % related to COVID-19, the Parcel & Logistics Division managed to record further volume gains in the Austrian market (parcel volume +30 %), in South East and Eastern Europe (parcel volume +27 %) as well as in the newly consolidated Turkish market (parcel volume +37 %). In terms of earnings, a good fourth quarter also enabled the company to end 2020 on a conciliatory note. EBIT in 2020 amounted to Euro 160.6 mn, down by 19.9 % from Euro 200.6 mn in 2019. The start-up costs of bank99 in the Retail & Bank Division, which was launched in April 2020, accounted for a substantial share of the decline. On the basis of Austrian Post s solid performance and balance sheet strength, it will be proposed to the Annual Genera
PRESS RELEASE : AUSTRIAN POST FY 2020: Extreme -2- marketscreener.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marketscreener.com Daily Mail and Mail on Sunday newspapers.
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