Oesterreichische Post (POST) Q4 2024 earnings summary

Executive summary

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

• EBIT increased by 9% to EUR 207.3 million; EPS rose to EUR 2.04.

• Parcel & Logistics led with 20.9% growth, especially strong in Türkiye due to inflation and currency effects.

• Retail & Bank segment revenue up 19.5%, with Bank99 nearing break-even, customer base reaching 300,000, and credit volume growing.

• Dividend proposal of EUR 1.83 per share, maintaining a payout ratio of at least 75% of net profit.

Financial highlights

• EBITDA increased 8% to EUR 422.7 million; EBIT margin at 6.6%, EBITDA margin at 13.5%.

• Operating free cash flow rose to EUR 253.9 million; financial debt at EUR 167 million; logistics equity ratio at 29%.

• Dividend yield at 6.4% based on year-end share price.

• CapEx was EUR 143 million, with 27–30% allocated to decarbonisation.

• Staff costs rose 15.6% due to wage adjustments and increased headcount, especially outside Austria.

Outlook and guidance

• 2025 revenue growth expected to be modest, with EBIT target set at around EUR 200 million.

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

• CAPEX for 2025 planned 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, with international expansion in e-commerce.