Austrian Post Reports Strong 2023 Results: Revenue and Earnings Boosted by Parcel Growth and Bank99 Improvement

Austrian Post has reported a significant upturn in its financial results for 2023, with a notable increase in revenue and earnings attributed to the expansion of its parcel business and the progression of its financial division, bank99. Despite facing a challenging macroeconomic environment characterized by high inflation and economic downturn, influencing consumer and business investment behavior, the company’s strategic initiatives have yielded fruitful outcomes.

The company witnessed a revenue increase of 8.7% to EUR 2,740.8 million, propelled by a 16.6% growth in the parcel and logistics sector and a remarkable 37.6% in retail and banking services. Although the mail segment saw a 2.3% decline, the positive developments in the other sectors more than compensated for this drop. Earnings before interest, taxes, depreciation, and amortization (EBITDA) improved by 5.0%, reaching EUR 391.6 million, while earnings before interest and taxes (EBIT) saw a modest rise of 1.0% to EUR 190.2 million. Earnings per share also increased by 5.5% to EUR 1.96.

The company remains resilient in navigating the challenging economic conditions, maintaining a stable earnings outlook for 2024, with revenue growth expected in the low to mid-single digit range and operating earnings projected to align with the previous year’s level. The positive performance in 2023 has set a robust foundation for Austrian Post to continue its growth trajectory, focusing on innovation, new product developments, and maintaining cost efficiency to sustain its market leadership.