Austrian Post sees lower 2020 earnings due to virus

Oesterreichische Post AG

14/05/2020 06:53

May 14 (Reuters) - Austrian Post  POST.VI  expects a decline
in 2020 core profit as the coronavirus pandemic hit its letter
mail business in the first quarter, the company said on
Thursday.
    Increasing parcel revenues cannot offset revenue losses in
the high-margin mail division due to the high level of fixed
costs in the logistics business, the company said.
    The majority state-owned group said its objective was to
keep revenue development as stable as possible, compared to a
previously cancelled forecast for full-year revenue to remain
stable or rise slightly compared to the 2019 figure.

 (Reporting by Zuzanna Szymanska in Gdansk; Editing by Himani
Sarkar)
 ((zuzanna.szymanska@thomsonreuters.com; + 48 58 778 52 86;))