Austrian Post Boosted by Election, Lira Effects in 2024

Austrian Post achieved robust earnings in the first nine months of 2024, with operating profit (EBIT) increasing by 10.7% to €144.7 million compared to the same period last year. Earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 7.9% to €304.9 million, while revenue climbed 13.6% to reach €2.237 billion. The company attributed part of this growth to favorable election-related business and the exchange rate impact of the Turkish lira.

Strong Gains Across All Divisions

In its mail and advertising division, Austrian Post, a partially state-owned and publicly traded company, recorded a 5.1% revenue increase, reaching €911.0 million in the first three quarters. Parcel logistics saw an even stronger rise, with revenue up 19.1% to €1.201 billion, while the branch banking sector grew by 23.1% to €146.0 million. The company’s free cash flow from operations totaled €229.3 million, with equity standing at €710.7 million as of September 30.

Personnel expenses increased by 15.7% year-on-year, totaling €1.026 billion for the first three quarters of 2024. This rise stemmed from growing staff numbers abroad and collective wage adjustments both in Austria and internationally.

Revenue Expected to Surpass €3B in 2025

Walter Oblin, Austrian Post’s new CEO, highlighted the company’s resilience: “Double-digit revenue growth, despite economic headwinds, shows our ability to seize market opportunities.” Austrian Post projected an annual revenue of €3 billion for 2024, with an expected EBIT increase of at least 5% by year-end. For 2025, the company aims to surpass €3 billion in total revenue, underscoring its ambition to capitalize on continued growth momentum across its divisions.

Last month, the Austrian Post was fined €9.2 million for market abuse.