Oesterreichische Post (POST) Q3 2025 earnings summary

Executive summary

• Revenue for Q1-3 2025 was EUR 2,212.4m, down 1.1% from 2024 but up 12.3% from 2023, reflecting the absence of prior-year election and currency effects.

• EBIT for Q1-3 2025 was EUR 135.1m, a 6.6% decrease from 2024, but 3.4% above 2023, with EBITDA at EUR 295.1m, down 3.2% year-on-year.

• Operating free cash flow reached EUR 239.6m, exceeding previous years.

• Strategic focus on logistics/services in Austria, Eastern Europe, and Türkiye, with expansion in e-commerce, banking, and telecom.

• Profit for the period was EUR 97.3m, down 8.3% from 2024, with earnings per share at EUR 1.41.

Financial highlights

• EBITDA margin was 13.3% (down from 13.6% in 2024), and EBIT margin was 6.1% (down from 6.5%).

• Net debt to EBITDA at 0.4x; logistics equity ratio 29%; equity ratio 11.5%.

• Operating free cash flow at EUR 239.6m, higher than recent years.

• Maintenance CapEx down by over EUR 10m, gross CapEx down by EUR 4m year-on-year; bolt-on M&A up by EUR 1.6m.

• Financial debt at just over EUR 160m; including IFRS 16, total financial debt at EUR 526m; financial debt/EBITDA at 0.4x, including IFRS 16 at 1.3x.

Outlook and guidance

• Modest revenue decline expected in 2025, with a slight increase forecast for 2026.

• EBIT for 2025 anticipated to be slightly below the strong prior year, with stable earnings targeted for 2026.

• CAPEX for 2025 projected at about EUR 150m, including investments in decarbonisation and growth.

• Mail volumes and revenue projected to continue declining, partially offset by tariff increases; parcel/logistics to grow; retail/bank to see slight revenue fall due to low interest rates and A1 partnership discontinuation.

• Last-mile logistics in Austria targeted to be CO₂-free by 2030.