Earnings up 5.9% at Austrian Post thanks to parcels growth

[POSTMAN]

http://postandparcel.info/64114/news/co ... ls-growth/" onclick="window.open(this.href);return false;

Growth in its parcel and logistics business helped Austrian Post to boost its pre-tax earnings by 5.9% in 2014.

Preliminary results issued this week showed that its revenue held steady at EUR 2.37bn, up two tenths of a percent on the previous year.

Earnings before tax (EBIT) grew to EUR 197m.

Austrian Post saw a 1.5% year-on-year decline in revenue within its Mail & Branch Network Division, to EUR 1.49bn, with continuing electronic substitution of letters as well as falling advertising mail volumes.

However, the Parcels & Logistics Division brought 3.1% growth compared to 2013, to EUR 882m, despite a slight drop in revenue within the “highly competitive” German market.

Austrian Post’s German parcels business, Trans-o-flex, is currently in the middle of a restructuring programme, which did hit Group results to the tune of EUR 49m in 2014. The company’s Central and Eastern Europe operations also brought impairment losses of EUR 10m during the year.

On the positive side, Austrian Post sold its old corporate headquarters in central Vienna during the year, which brought a EUR 62m windfall for the bottom line.

Austrian Post said it will be issuing its final, audited results on 12th March.