Oesterreichische Post (POST) Q4 2024 earnings summary

Executive summary

• Revenue grew 13.9% year-over-year to EUR 3.12 billion in 2024, surpassing EUR 3 billion for the first time, with all divisions contributing to growth.

• Parcel & Logistics led with 20.9% growth, especially strong in Türkiye (+45.5%) and Austria (+15.2%), supported by inflation and currency effects.

• Mail Division revenue rose 4.1%, aided by elections and price adjustments despite a 6% letter volume decline.

• Retail & Bank Division revenue increased 19.5%, driven by bank99 customer growth, higher interest rates, and organic expansion.

• EBIT increased by 9% to EUR 207.3 million, and EPS rose to EUR 2.04; net profit improved 5.2% to EUR 145.9 million.

Financial highlights

• Group revenue reached EUR 3.12 billion (+13.9% year-over-year); EBIT grew to EUR 207.3 million (+9%), EBITDA to EUR 422.7 million (+8%).

• EBIT margin at 6.6%, EBITDA margin at 13.5%.

• Operating free cash flow rose to EUR 253.9 million; equity ratio (logistics) at 29%.

• Dividend proposal of EUR 1.83 per share, with a payout ratio of at least 75% of net profit and a 6.4% yield.

• CAPEX was EUR 143.1 million, with 27–30% for decarbonisation and 43% for maintenance.

Outlook and guidance

• 2025 expected to see modest revenue growth after 2024's special effects; EBIT guidance is around EUR 200 million, with focus on cost discipline and efficiency.

• Mail revenue expected to decline; Parcel & Logistics and Retail & Bank forecast mid-single-digit growth.

• CAPEX for 2025 projected at EUR 150–160 million, focusing on international growth and decarbonisation.

• Continued commitment to high dividend payout, targeting at least 75% of net profit.

• Strategic goal to reach EUR 4 billion in revenues by 2030, focusing on international e-commerce growth.