The parcel and logistics division of Austrian Post saw an impressive year-on-year 16.6% revenue increase in 2023 to €1.41bn (US$1.54bn), despite challenging economic conditions and changing consumer behavior.
The retail and bank division also generated strong revenue growth of 37.6 % to €168.6m (US$183.7m) on the back of an improved interest rate environment for banks. However, the mail division reported a 2.3% fall in revenue to €1.19bn (US$1.3bn) compared to 2022 thanks to a further decline in the conventional letter mail business as well as volume decreases in direct mail.
“Against the backdrop of the challenging macroeconomic environment, we are very satisfied with the performance of our company,” explained CEO Georg Pölzl. “Growth in the parcel business as well as the increase in financial services of bank99 have more than offset the decline in letter mail and direct mail items.”
In line with current forecasts, Austrian Post expects to generate low to mid single-digit growth in the 2024 financial year.
Austrian Post has undertaken an extensive investment program over the previous few years, resulting in a tripling of sorting capacities in Austria. Over the next few years, the investment priorities will be automation, digitalization, the expansion of international logistics and e-mobility.
One goal is to realize CO2-free delivery in Austria over the last mile by 2030. “We want to continue being a leader in climate-friendly logistics and strengthen our service performance, efficiency and speed through continuous improvements,” added Pölzl.
The post plans capital expenditures of €140m-€150m (US$152-US$163m) in 2024.