Austrian Post earned well in the first nine months of 2024. Operating profit (EBIT) rose 10.7 percent to 144.7 million euros compared to the same period last year, and earnings before interest, taxes, depreciation and amortization (EBITDA ) increased by 7.9 percent to 304.9 million euros.
Turnover increased by 13.6 percent to 2.237 billion euros. According to Post, the effects of elections and the currency situation of the Turkish lira had a positive impact.
Increase in letters, parcels and in the banking sector
In the first three quarters of this year, the partly state-listed company recorded an increase of 5.1 percent to 911.0 million euros in letter and advertising mail, and in the parcel and logistics sector this was 19.1 percent to 1.201 billion euros. . The office and banking area grew by 23.1 percent to 146.0 million euros. Operating free cash flow amounted to EUR 229.3 million and shareholders’ equity amounted to EUR 710.7 million as of September 30.
Personnel costs amounted to 1.026 billion euros in the first three quarters of 2024, an increase of 15.7 percent year on year. According to Post, the change is due on the one hand to an increase in the number of employees outside Austria and on the other hand to the collective labor agreement salary adjustment both in Austria and internationally.
Post boss: “Opportunities well taken”
“Double-digit sales growth – despite economic headwinds – shows that we have been able to make good use of the opportunities in our markets,” the new Managing Director of the Austrian Post, Walter Oblin, emphasized today. In terms of prospects, Post AG said on Tuesday that sales for the full year 2024 would reach three billion. Expressed in euros, the EBIT increase this year should be at least five percent. A turnover of more than three billion euros is targeted for 2025.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
