Austrian Post Q1 2024: Firm Growth Amid Economic Challenges

Austrian Post AG reported a promising start to 2024 with a significant increase in first-quarter revenue and earnings. The Group experienced a 14.1% rise in revenue, reaching EUR 758.6 million. This growth was reflected across all divisions with the Mail Division increasing by 2.3%, and the Parcel & Logistics and Retail & Bank Divisions growing by 23.2% and 26.0% respectively.

The company also noted a considerable improvement in earnings, with EBITDA and EBIT climbing by 8.7% and 11.4% to EUR 103.4 million and EUR 52.4 million respectively. This rise was supported by a notable 44.9% increase in earnings from the Parcel & Logistics Division, largely due to Parcel Türkiye’s performance.

Despite ongoing macroeconomic difficulties such as high inflation and economic slowdown affecting consumer behaviors and company investments, Austrian Post managed to deliver robust performance. The firm also emphasized its focus on new solutions and services, fostering revenue growth and operational efficiency to maintain stability and support forecasted mid-single-digit revenue growth for 2024. The company further plans substantial investments in international logistics and e-mobility, aiming for CO2-free delivery in Austria by 2030.