Brief: Oesterreichische Post Q1 EBIT Down At EUR 33.3 Million

Oesterreichische Post AG

14/05/2020 06:35

May 14 (Reuters) - OESTERREICHISCHE POST AG  POST.VI :
    * Q1 REVENUE UP BY 2.1 % TO EUR 502.9M
    * REDUCED Q1 GROUP EARNINGS (EBIT) OF EUR 33.3M
    * Q1 PROFIT FOR THE PERIOD EUR 26.2 MILLION VERSUS EUR 43.3
MILLION YEAR AGO
    * 2020 GROUP RESULTS ARE STILL UNPREDICTABLE
    * OBJECTIVE IS TO MAINTAIN REVENUE DEVELOPMENT AS STABLE AS
POSSIBLE
    * WITH RESPECT TO EARNINGS, REVENUE LOSSES IN HIGH-MARGIN
MAIL
DIVISION CANNOT BE OFFSET BY INCREASING PARCEL REVENUES
    * EBIT WILL DECLINE IN CURRENT FINANCIAL YEAR AS A
CONSEQUENCE OF
DIRECT AND INDIRECT COVID-19 EFFECTS
    * IN ADDITION TO REGULAR MAINTENANCE CAPEX OF ABOUT EUR 70M
MORE
THAN EUR 50M OF GROWTH INVESTMENTS ARE PLANNED AGAIN
    * TARGETED INVESTMENTS AND MEASURES SHOULD CONTRIBUTE TO
INCREASE
EARNINGS AT ALL DIVISIONS AND THUS AGAIN IMPROVE GROUP RESULTS
FOR 2021
    * THERE IS A POSSIBILITY OF EXPANDING OR NEWLY ACQUIRING
REAL
ESTATE PROPERTY FOR LOGISTICS INFRASTRUCTURE

Source text for Eikon:  ID:nAPA2V0Ddl 
Further company coverage:  POST.VI 

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