Austrian Post reports broadly flat growth in its revenues and profits for the calendar year ended 31st December 2022. A 0.1% growth in revenues y-o-y to €2.52bn was matched by marginal growth in EBITDA to €372.2m.
The postal operator put the stagnant growth down to a challenging economic environment brought about by the war in Ukraine and consequent impact on energy prices and inflation.
Georg Pözl, General Director of Austrian Post said of the results, “Revenue 2022 in the Mail & Direct mail was negatively impacted by the structural decline in the volume of addressed letters and direct mail as a result of electronic substitution”. This reflects the global general decline in letter mail volumes and a trend away from marketing mail.
At the same time, Pözl commented, “In the 2022 financial year, the Parcel & Logistics Division reported reduced revenue, particularly in the parcel business in Turkey, but also declines in special logistics services caused by the pandemic.” Turkey parcel revenues fell by 2.4% in the 2022, and this impacted overall revenues for the postal operator.
However, for the general stagnation and decline in volumes and revenues there was a particularly bright spot for Austrian Post. Losses in its Branch & Bank segment declined by 32% y-o-y to €26.7m on a revenue growth of 64% to €122.5m. Pözl explained, “Positive effects on interest and commission income resulted in an increase in sales in the Branch & Bank division in 2022.”
Looking forward to 2023, Pözl concluded, “By the end of 2023, the capacity expansion program in Austria should also be completed and a sorting capacity of around 140,000 parcels per hour should be achieved. In addition, intensive investments are being made in the further expansion of the sustainable fleet in the direction of e-mobility.”
The postal operator expects growth in 2023 to be in the low single digit range thanks to ongoing macroeconomic pressures and their impacts on consumer behaviour.
Author: Richard Shrubb