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Monday, March 20, 2023

End of the parcel boom: minus at the post office

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The Post Management proposes a dividend of EUR 1.75 per share.
Image: hermann wakolbinger
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In terms of sales, the partially state-owned, listed Post AG remained at the 2021 level, and the postal management proposes a dividend of EUR 1.75 per share. For this year, a result at the level of 2022 is targeted.

The integration of Bank99, which brought a 64 percent increase in sales to EUR 122.6 million, contributed to stable sales. In the parcel and logistics sector, a minus of 2.5 percent to 1.21 billion euros was registered, with letters and direct mail it was minus 0.5 percent to 1.22 billion euros in sales. The operating free cash flow in 2022 was 183 million euros.

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Inflation will pose a “permanent challenge” for this year, and the economic environment and purchasing power are difficult to forecast, according to Post AG on Wednesday. Sales growth in the low to mid single-digit range is targeted. The capacity expansion program in Austria should also be completed by the end of this year, when the sorting capacity should be around 140,000 parcels per hour.

Source: Nachrichten

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