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EQS-News: AUSTRIAN POST Q1–3 2024: Successful first three quarters of 2024 with double-digit revenue growth

EQS-News: AUSTRIAN POST Q1–3 2024: Successful first three quarters of 2024 with double-digit revenue growth
   EQS-News: Österreichische Post AG / Key word(s): 9 Month figures
   AUSTRIAN POST Q1–3 2024: Successful first three quarters of 2024 with
   double-digit revenue growth

   05.11.2024 / 07:30 CET/CEST
   The issuer is solely responsible for the content of this announcement.

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   AUSTRIAN POST Q1–3 2024:

   Successful first three quarters of 2024 with double-digit revenue growth

    

   Revenue in Q1–3 2024

     •     Revenue +13.6% to EUR 2,237.6m (+10.7% excl. Parcel Türkiye)
     •     Positive underlying conditions: effects from elections and
       exchange rate of the Turkish Lira
     •     Mail +5.1% to EUR 911.0m
     •     Parcel & Logistics +19.1% to EUR 1,201.4m (+14.2% excl. Parcel
       Türkiye)
     •     Retail & Bank +23.1% to EUR 146.0m

   Earnings Q1–3 2024

     •     EBITDA +7.9% to EUR 304.9m
     •     EBIT +10.7% to EUR 144.7m
     •     Earnings per share from EUR 1.30 to EUR 1.48

   Cash flow and balance sheet

     •     Operating free cash flow Q1–3 2024 of EUR 229.3m
     •     Equity of EUR 710.7m as at 30 September 2024 

   Outlook

     •     Revenue forecast of EUR 3bn for the entire year 2024
     •     2024 EBIT increase of at least 5%; this is expected to be slightly
       over EUR 200m
     •     Forecast for 2025: revenue anticipation of EUR 3bn and the aim to
       generate again EUR 200m of earnings (EBIT)

    

   The first nine months of 2024 have developed very well for Austrian Post.
   This is against the backdrop of a challenging economic environment. The
   weak economy is reflected in both lower investment conditions among
   companies and subdued consumer behaviour in private households. The
   increasing use of postal voting in Austria – particularly in major
   elections such as the European Parliament elections or the Austrian
   parliamentary elections – but also rising parcel volumes in Austria as
   well as in Southeast and Eastern Europe due to sustained e-commerce,
   provided positive impetus in 2024. “Double-digit revenue growth – despite
   the economic headwind – shows that we have been able to make good use of
   the opportunities in our markets,” says Austrian Post's new CEO Walter
   Oblin, who took over as Chairman of the Management Board on
   1 October 2024. “In addition to quality leadership, we also aspire to be
   an innovation leader with new services such as the expansion of our
   self-service infrastructure or the delivery of parcels on Sundays,” Walter
   Oblin continues.

    

   Revenue of the Austrian Psot Group rose by 13.6% to EUR 2,237.6m in the
   first three quarters of 2024. Excluding revenue in Türkiye, where business
   was characterized by higher quarterly volatility relating to the exchange
   rate development of the Turkish Lira, revenue still increased by 10.7%.
   Higher revenue was reported in all divisions in the first nine months of
   the year. Mail Division revenue was up 5.1% to EUR 911.0m and is
   negatively affected by the structural decline of addressed letter mail
   volumes caused by electronic substitution. In contrast, the postage rate
   adjustments in the previous year and elections in the first three quarters
   of 2024 had a positive impact. Furthermore, a restrained advertising
   business is perceptible, which is related to the weak development of
   individual retail segments. The Parcel & Logistics Division generated a
   19.1% rise in revenue to EUR 1,201.4m in the reporting period. The parcel
   business developed very positively in all regions. Strong revenue was
   particularly recorded in Türkiye, impacted by high inflation and the
   exchange rate of the Turkish Lira. Excluding the parcel business in
   Türkiye, revenue was up 14.2%. The Retail & Bank Division achieved revenue
   of EUR 146.0m in the first three quarters of 2024 (+23.1%). The ramp up of
   customers at bank99 as well as the interest rate developments in recent
   months positively contributed to divisional revenue.

    

   In terms of earnings, Austrian Post also reported very good results in the
   first three quarters of 2024. EBITDA climbed 7.9% to EUR 304.9m and
   earnings before interest and taxes (EBIT) rose by 10.7% to EUR 144.7m.
   Mail Division EBIT was EUR 115.2m in the first three quarters of EUR, up
   from EUR 102.1m in the previous year (+12.8%). This improvement is
   attributable to adjustments to the product and pricing structure as well
   as elections in the first three quarters of 2024. The Parcel & Logistics
   Division’s EBIT totalled EUR 64.7m compared to EUR 60.7m in the prior-year
   period (+6.7%). The parcel business in Türkiye made a major contribution
   to this earnings growth. Business performance in Türkiye continues to be
   strongly affected by inflation and currency translation. A valuation
   effect of EUR 9.6m in the third quarter for the option liability relating
   to the remaining 20% stake in Aras Kargo negatively impacted earnings.
   EBIT of the Retail & Bank Division equalled minus EUR 7.4m in the first
   three quarters of 2024, down from minus EUR 5.6m in the previous year.
   This decline is mainly attributable to special IT expenses related to the
   migration of the core banking systems of bank99. The profit for the period
   of the Austrian Post Group equalled EUR 106.1m (+16.9%) in the first three
   quarters of 2024. Accordingly, earnings per share equalled EUR 1.48 from
   EUR 1.30 in the prior year period (+14.0%).  

    

   The international mail and parcel markets will show diverging trends going
   forward. In many European countries, weak economic growth and the related
   restrained investment climate impact the purchasing power of companies and
   private consumers. In turn, this leads to a decrease in letter mail and
   direct mail items, whereas parcel volumes are increasing due to the
   ongoing growth of online retailing. Business results in the first nine
   months of the year 2024 were supported by positive overall conditions. In
   line with current developments and depending on the exchange rate of the
   Turkish Lira at the end of the year, revenue in 2024 is forecast to rise
   to EUR 3bn. Revenue growth combined with cost discipline and efficiency
   are necessary to ensure the targeted stability for Austrian Post. Austrian
   Post anticipates an earnings improvement in 2024. Assuming a continuing
   stable macroeconomic environment in the company’s markets, EBIT is
   expected to rise by at least 5%, thus an expected EBIT of slightly over
   EUR 200m. 

    

   The complete version of the outlook as well as detailed information
   (excerpts) from the Group Management Report for the first three quarters
   of 2024 can be found starting on page 4. The entire report is available on
   the website of Austrian Post under post.at/investor in the Download
   Centre.

   KEY FIGURES

                                                        Change               
                                  Q1–3                                     Q3
   EUR m                          2023 Q1–3 2024      %  EUR m Q3 2023   2024
                                                                        
   Revenue                     1,969.3   2,237.6  13.6%  268.2   684.5  732.4
   Mail                          866.7     911.0   5.1%   44.3   268.6  291.9
   Parcel & Logistics          1,009.1   1,201.4  19.1%  192.2   380.7  396.5
   Retail & Bank                 118.6     146.0  23.1%   27.4    42.1   50.4
   Corporate/Consolidation       –25.2     –20.8  17.2%    4.3    –6.9   –6.4
   Other operating income         77.0      75.9  –1.4%   –1.0    39.0   28.1
   Raw materials, consumables
   and services used            –597.0    –644.0  –7.9%  –47.0  –222.4 –210.2
   Expenses from financial
   services                      –12.0     –36.6 <-100%  –24.6    –6.1  –12.9
   Staff costs                  –886.7  –1,026.1 –15.7% –139.4  –307.5 –333.4
   Other operating expenses     –274.5    –311.1 –13.4%  –36.7   –96.5 –115.0
   Results from financial
   assets acc. for using the
   equity method                   1.5       3.1  >100%    1.6     0.7    1.7
   Net monetary gain               4.8       6.1  28.0%    1.3     1.7    2.5
   EBITDA                        282.4     304.9   7.9%   22.4    93.4   93.4
   Depreciation, amortisation
   and impairment losses        –151.7    –160.1  –5.6%   –8.5   –57.8  –54.2
   EBIT                          130.8     144.7  10.7%   14.0    35.6   39.2
   Mail                          102.1     115.2  12.8%   13.0    24.5   32.2
   Parcel & Logistics             60.7      64.7   6.7%    4.1    24.3   17.5
   Retail & Bank                  –5.6      –7.4 –33.2%   –1.9    –6.7   –2.2
   Corporate/Consolidation^1     –26.5     –27.7  –4.9%   –1.3    –6.6   –8.4
   Financial result               –3.5      –2.6  26.1%    0.9    –9.2   –1.0
   Profit before tax             127.2     142.1  11.7%   14.9    26.3   38.2
   Income tax                    –36.5     –36.0   1.2%    0.4   –14.2  –10.5
   Profit for the period          90.8     106.1  16.9%   15.3    12.2   27.6
   Earnings per share (EUR)^2     1.30      1.48  14.0%   0.18    0.17   0.37
                                                                             
   Gross cash flow               216.1     276.3  27.9%   60.2    59.4   90.4
   Cash flow from operating
   activities                     73.4      58.4 –20.4%  –15.0    62.0 –127.4
   CAPEX                          97.9      90.7  –7.4%   –7.3    50.3   44.3
   Free cash flow                 22.1     –19.2 <–100%  –41.4    45.1 –173.4
   Operating free cash flow^3    177.2     229.3  29.4%   52.1    61.7   82.2

   ^1 Includes the intra-Group cost allocation procedure
   ^2 Undiluted earnings per share in relation to 67,552,638 shares
   ^3 Free cash flow before acquisitions/securities/money market investments,
   Growth CAPEX and core banking assets

    

   Vienna, 5 November 2024

   EXCERPTS FROM THE MANAGEMENT REPORT Q1–3 2024

    

   REVENUE DEVELOPMENT IN DETAIL

    

   In the first three quarters of 2024, Austrian Post’s Group revenue
   increased by 13.6 % year-on-year to EUR 2,237.6m. Revenue excl. Parcel
   Türkiye was up by 10.7 %. All divisions generated higher revenue in the
   first nine months of 2024. Revenue of the Mail Division was up by 5.1 %,
   whereas Parcel & Logistics revenue increased by 19.1 % (+14.2 % excl.
   Parcel Türkiye) and the Retail & Bank Division showed a 23.1 % revenue
   increase.

    

   The share of the Mail Division in the total revenue of Austrian Post in
   the first three quarters of 2024 amounted to 40.3 %. The division’s
   revenue of EUR 911.0m is negatively impacted by the structural decline of
   addressed letter mail volumes due to electronic substitution. However, it
   benefited from last year’s postal rate adjustments as well as the major
   nationwide elections in Austria (Chamber of Labour, European Parliament,
   Austrian national parliamentary election) in the first three quarters of
   2024. Moreover, the advertising business remains subdued, caused by weak
   development of certain retail segments.

   The Parcel & Logistics Division accounted for 53.2 % of Group revenue of
   EUR 1,201.4m in the reporting period. The parcel business developed very
   positively in all regions. In particular, strong revenue growth was
   generated in Türkiye, predominantly impacted by high inflation and the
   exchange rate of the Turkish Lira.

   The Retail & Bank Division accounted for 6.5 % of Group revenue,
   equivalent to EUR 146.0m in the first three quarters of 2024. The customer
   ramp-up of bank99 as well as the development of interest rates in recent
   months made a positive contribution to the division’s revenue.

    

   Revenue of the Mail Division totalled EUR 911.0m in the first three
   quarters of 2024, of which 63.1 % is attributed to the Letter Mail &
   Business Solutions area. Direct Mail accounted for 25.9 % of the total
   divisional revenue, and Media Post had an 11.0 % share.

   In the first three quarters of 2024, Letter Mail & Business Solutions
   revenue equalled EUR 574.6m, implying a year-on-year increase of 4.4 %.
   Letter mail volumes continue to show a downward trend resulting from the
   substitution of letters by electronic forms of communication. Conventional
   letter mail volumes in Austria fell by 6 % in the first three quarters of
   2024. Postal rate adjustments implemented in September of last year as
   well as the elections in the first three quarters of 2024 (mainly the
   Chamber of Labour, European Parliament, Austrian national parliamentary
   elections) positively affected the revenue development. Inflationary
   pressure on all types of costs led to adjustments in the product and
   pricing structure as well as to necessary efficiency enhancements of
   internal processes. International letter mail declined in terms of volumes
   and revenue, while the Business Solutions area developed positively.

   Direct Mail revenue rose by 5.3 % in the first three quarters of 2024 to
   EUR 235.8m. The subdued advertising environment impacted by economic
   difficulties as well as by structural decline in certain customer segments
   (e.g., furniture sector, mail order business) was offset by adjustments to
   the pricing structure. Major elections in the first three quarters of 2024
   also positively impacted revenue.

   Revenue from Media Post, i.e., the delivery of newspapers and magazines,
   rose by 9.2 % year-on-year to EUR 100.5m. This increase is primarily
   related to adjustments in the pricing structure.

    

   Revenue of the Parcel & Logistics Division increased by 19.1 % in the
   first three quarters of 2024 to EUR 1,201.4m. Growth amounted to 14.2 %
   when excluding Parcel Türkiye. The parcel business developed very
   positively in all regions.

   Parcel Austria grew its revenue by 16.0 % to EUR 656.2m in the reporting
   period. Parcel volumes increased by 13 % in the first three quarters of
   2024, which can be attributed to increasing national and international
   parcel volumes. In turn, this reflects strong customer confidence in the
   quality of Austrian Post.

   Revenue in Türkiye and Azerbaijan (Parcel Türkiye) rose by 32.9 % to
   EUR 345.3m compared to the first nine months of 2023. This high level of
   growth is significantly impacted by inflation in Türkiye and the exchange
   rate of the Turkish Lira. However, revenue in the first three quarters of
   2024 also included a negative currency effect due to the application of
   hyperinflation accounting.

   The parcel business in Southeast and Eastern Europe (Parcel CEE/SEE)
   continues to generate positive growth rates, with revenue up by 12.9 % to
   EUR 158.1m in the first nine months of 2024. There was a strong increase
   in parcel volumes from Asia in this region.

   Revenue of Logistics Solutions/Consolidation decreased from EUR 43.8m to
   EUR 41.8m in the current reporting period due to consolidation effects.

    

   Revenue of the Retail & Bank Division improved by 23.1 % in the first
   three quarters of 2024 to EUR 146.0m. Income from Financial Services
   contributed 78.9 % to the divisional revenue, whereas Branch Services
   accounted for 21.1 %. Income from Financial Services increased by 28.8 %
   to EUR 115.2m in the current reporting period. This is mainly due to the
   improved interest rate environment in Europe as well as to the customer
   ramp-up of bank99. Branch Services revenue increased by 5.7 % to EUR 30.8m
   in the first three quarters of 2024 as a result of inflation-related price
   adjustments in the retail products division.

    

   EARNINGS DEVELOPMENT

    

   The largest expense items in relation to Austrian Post’s Group revenue are
   staff costs (45.9 %), raw materials, consumables and services used
   (28.8 %) and other operating expenses (13.9 %). In this context, 7.2 % can
   be attributed to depreciation, amortisation and impairment losses and
   1.6 % to expenses from financial services.

   Staff costs in the first three quarters of 2024 totalled EUR 1,026.1m,
   implying a year-on-year increase of 15.7 % or EUR 139.4m. The change
   results from an increase in the number of employees in the Austrian Post
   Group outside of Austria as well as from collective wage salary
   adjustments reported under operational staff costs both in Austria and
   abroad. Austrian Post Group employed an average of 27,816 people
   (full-time equivalents) in the first nine months of 2024 compared to the
   average of 27,119 employees in the prior-year period (+2.6 %).

   Non-operating staff costs refer to severance payments and changes in
   provisions, which are primarily related to the specific employment
   situation of civil servant employees at Austrian Post. No significant
   extra charges were incurred in the first three quarters of 2024.

   Raw materials, consumables and services used rose by 7.9 % to EUR 644.0m.
   This development relates mainly to higher transport costs charged by
   external freight companies due to the increased volumes in Austria as well
   as in Southeast and Eastern Europe.

   Other operating income fell by 1.4 % in the first three quarters of 2024
   to EUR 75.9m. Other operating expenses increased by 13.4 % to EUR 311.1m,
   particularly for IT services and maintenance costs.

   Accounting standard IAS 29 (Financial Reporting in Hyperinflationary
   Economies) needs to be applied for the Turkish subsidiary. Accordingly,
   all items in the income statement as well as the non-monetary items were
   adjusted using a general price index (refer to the Annual Report 2023,
   Consolidated Financial Statements, Note 3.3 Hyperinflation). The profit or
   loss from net monetary items is presented as a separate item in the income
   statement. In the first three quarters of 2024, the net monetary gain
   amounted to EUR 6.1m (+28.0 %).

   EBITDA equalled EUR 304.9m in the first three quarters of 2024, an
   increase of 7.9 % from the comparable figure of EUR 282.4m in the previous
   year. This implies an EBITDA margin of 13.6 %. Depreciation, amortisation
   and impairment losses amounted to EUR 160.1m in the first nine months of
   2024, representing a year-on-year increase of 5.6 % or EUR 8.5m
   year-on-year. The increase is primarily due to investments in new parcel
   logistics infrastructure facilities. Group EBIT totalled EUR 144.7m in the
   first three quarters of 2024, up by 10.7 % from EUR 130.8m in the previous
   year. Earnings were negatively impacted by a valuation effect of EUR 9.6m
   in the third quarter relating to the option liability for the remaining
   20 % of the shares in Aras Kargo. The EBIT margin amounted to 6.5 %.

   The Group’s financial result in the first three quarters of 2024 changed
   from minus EUR 3.5m to
   minus EUR 2.6m. The income tax decreased slightly from EUR 36.5m to
   EUR 36.0m. The profit for the period for the first nine months of 2024
   equalled EUR 106.1m compared to EUR 90.8m in the first three quarters of
   the previous year (+16.9 %). Undiluted earnings per share were EUR 1.48,
   up from EUR 1.30 in the prior-year period.

    

   EARNINGS BY DIVISON

    

   Total earnings (EBIT) in the first three quarters of 2024 rose from
   EUR 130.8m to EUR 144.7m (+10.7 %) and were impacted by a very positive
   revenue development (+13.6 %) as well as by inflation-related cost
   increases and a negative valuation effect.

    

   From a divisional perspective, the Mail Division achieved an EBIT of
   EUR 115.2m in the first nine months of 2024 compared to EUR 102.1m in the
   prior-year period (+12.8 %). This increase resulted from adjustments to
   the Letter Mail product and pricing structure effective 1 September 2023,
   the elections in the first three quarters of 2024 as well as price
   increases in the Direct Mail and Media Post business.

    

   The Parcel & Logistics Division generated an EBIT of EUR 64.7m in the
   first three quarters of 2024 compared to EUR 60.7m in the prior-year
   period (+6.7 %). The parcel business showed a positive development in all
   regions where Austrian Post operates. The parcel business in Türkiye made
   a significant contribution to the earnings improvement. Business
   performance in Türkiye continues to be strongly impacted by inflation and
   currency translation. A third-quarter valuation effect equalling EUR 9.6m
   relating to the option liability for the remaining 20 % stake in Aras
   Kargo negatively affected earnings.

    

   The Retail & Bank Division recorded an EBIT of minus EUR 7.4m in the first
   three quarters of 2024, compared to minus EUR 5.6m in the previous year.
   Earnings were mainly impacted by one-off IT expenses in connection with
   the migration of core banking systems of bank99.

    

   EBIT of the Corporate Division (including Consolidation and the
   intra-Group cost allocation procedure) changed from minus EUR 26.5m to
   minus EUR 27.7m. The Corporate Division provides non-operating services
   which are typically essential for the purpose of the administration and
   control of the company. In addition to conventional corporate governance
   tasks, these services include the management and development of commercial
   properties not required for operations, the management of significant
   financial investments, the provision of IT services, the development of
   new business models and the administration of the Internal Labour Market
   of Austrian Post.

    

   CASH FLOW AND BALANCE SHEET

    

   The gross cash flow in the first three quarters of 2024 equalled
   EUR 276.3m, compared to EUR 216.1m in the first three quarters of 2023
   (+27.9 %). The cash flow from operating activities amounted to EUR 58.4m
   in the reporting period, compared to the prior-year figure of EUR 73.4m.
   In this regard, the largest effect is attributable to changes in the core
   banking assets of bank99 totalling minus EUR 234.7m compared to minus
   EUR 138.6m in the prior-year period. Core banking assets include the
   change in the balance sheet items Financial assets from financial services
   and Financial liabilities from financial services, excluding cash, cash
   equivalents and balances with central banks, and thus combine the deposit
   and investment business of bank99. The cash flow from operating activities
   excluding core banking assets totalled EUR 293.1m in the first three
   quarters of 2024 compared to EUR 212.0m in the previous reporting period.

   The cash flow from investing activities was minus EUR 77.6m in the first
   nine months of 2024, compared to minus EUR 51.3m in the prior-year period.
   Expenditures for the acquisition of property, plant and equipment and
   investment property (CAPEX) amounted to EUR 90.7m in the current reporting
   period.

   Austrian Post relies on operating free cash flow as a key metric to assess
   the financial strength of its operating business and to cover the dividend
   for the financial year. Excluding the change in core banking assets, the
   operating free cash flow totalled EUR 229.3m in the current reporting
   period compared to EUR 177.2m in the previous year. This increase of
   29.4 % is attributable to positive operational business development as
   well as favourable tax effect from a prior-year period.

   The cash flow from financing activities came to minus EUR 154.6m in the
   first nine months of 2024, compared to minus EUR 130.5m in the prior-year
   period. This included the dividend payment of EUR 120.2m to Austrian Post
   shareholders.

    

   Austrian Post relies on a solid balance sheet and financing structure.
   Total assets amounted to EUR 6.1bn as at 30 September 2024 and have
   expanded significantly since the inclusion of bank99 in 2020. On the asset
   side, property, plant and equipment of EUR 1,353.2m is one of the largest
   balance sheet items and includes right-of-use assets under leases of
   EUR 375.5m. In addition, there are intangible assets and goodwill from
   company acquisitions, which are reported in the amount of EUR 149.8m as at
   30 September 2024. The balance sheet shows receivables of EUR 467.5m.
   Other financial assets amounted to EUR 27.1m as at 30 September 2024.
   Financial assets from financial services amounted to EUR 3,758.2m at the
   end of the third quarter of 2024 and result mainly from the business
   activities of bank99.

   On the equity and liabilities side of the balance sheet, the equity of the
   Austrian Post Group amounted to EUR 710.7m as at 30 September 2024,
   implying an equity ratio of 11.7 %. The logistics equity ratio (equity in
   relation to total capital excluding financial liabilities from financial
   services), stands at 28 % at the end of September 2024. Provisions of
   EUR 590.3m are shown on the equity and liabilities side at the end of
   September 2024, other financial liabilities amounted to EUR 646.6m and
   trade and other payables totalled EUR 579.7m. Financial liabilities from
   financial services in the amount of EUR 3,538.5m result primarily from
   business activities of bank99 (deposit and investment business of bank99’s
   customers).

    

   OUTLOOK

    

   International mail and parcel markets are developing in different
   directions. The weak economic growth in many European countries and the
   related restrained investment climate impact the purchasing behaviour of
   companies and private consumers. The trend towards the decline in letter
   mail and the ongoing growth of parcel volumes relating to the strong
   online business continues.

    

   Revenue growth in 2024

   Revenue growth in 2024 is supported by framework conditions and special
   effects in all divisions during the entire financial year. 2024 revenue is
   expected to reach EUR 3bn, depending on the exchange rate of the Turkish
   Lira.

   A stable or modestly positive revenue development is anticipated in the
   Mail Division. The basic trend towards of declining volumes in the
   traditional mail segment will continue. Furthermore, due to the weak
   economy, a difficult environment for retailers as well as reduced volumes
   of direct mail and media post continue to be expected. In contrast, major
   elections in Austria as well as price adjustments for various products had
   a positive effect in the first three quarters.

   Revenue of the Parcel & Logistics Division should increase by about 15 %.
   Ultimately, the realised revenue for 2024 will depend on the exchange rate
   of the Turkish Lira at the end of the year.

   The Retail & Bank Division aims to achieve double-digit revenue growth,
   depending on the interest rate environment.

    

   Group earnings in 2024

   Revenue growth combined with cost discipline and efficiency are necessary
   to ensure the stability that Austrian Post aims to achieve. Assuming an
   ongoing stable market environment in the fourth quarter of 2024, EBIT in
   2024 should increase by at least 5 %, thus leading to a total EBIT of
   slightly over EUR 200m for the year.

    

   CAPEX programme 2024

   In the meantime, the substantial CAPEX programme implemented in recent
   years – which has almost tripled the sorting capacity in Austria – has
   been largely completed. Investments in the coming years will focus on
   growth (international logistics), the digital transformation and the
   expansion of e-mobility. For example, the company is aiming for last-mile
   delivery to be completely CO₂-free by 2030 in Austria. In total, the plan
   for 2024 is to invest around EUR 70–80m in maintenance CAPEX for
   technology and automation, EUR 40–50m in green transformation
   (photovoltaic systems, e-mobility, electric charging infrastructure) as
   well as about EUR 30m in growth CAPEX, primarily in Türkiye and Southeast
   and Eastern Europe.

    

   Forecast for 2025

   The overall macroeconomic environment is expected to improve only slightly
   in 2025. In contrast to 2024, several positive special effects on the
   business results of Austrian Post, such as product reforms implemented as
   of 1 September 2023 as well as the absence of major elections, will no
   longer have a similar impact in 2025. Following robust growth in 2024,
   revenue in the parcel business should be in the single-digit range,
   depending on the exchange rate development of the Turkish Lira.

   Accordingly, Austrian Post also anticipates revenue of over EUR 3bn in
   2025 and aims to generate again EUR 200m of earnings (EBIT).

   Austrian Post continues to pursue the objective of distributing of at
   least 75 % of the Group net profit to shareholders and thus confirms its
   attractive dividend policy.

    

   CONTACTS                                                                
   Austrian Post             Austrian Post
   Press-Team                Harald Hagenauer, Head of Investor Relations
   Tel.: +43 (0) 57767-32010 Tel.: +43 (0) 57767-30400
   presse@post.at            investor@post.at

   ══════════════════════════════════════════════════════════════════════════

   05.11.2024 CET/CEST This Corporate News was distributed by EQS Group AG.
   www.eqs.com

   ══════════════════════════════════════════════════════════════════════════

   Language:    English
   Company:     Österreichische Post AG
                Rochusplatz 1
                1030 Vienna
                Austria
   Phone:       +43 577 67 - 30400
   E-mail:      investor@post.at
   Internet:    www.post.at
   ISIN:        AT0000APOST4
   WKN:         A0JML5
   Listed:      Vienna Stock Exchange (Official Market)
   EQS News ID: 2021893


    
   End of News EQS News Service


   2021893  05.11.2024 CET/CEST

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