Oesterreichische Post (POST) Q2 2026 earnings summary

Executive summary

• Revenue grew 3.8% year-over-year to EUR 1,544 million in H1 2026, driven by strong e-commerce and logistics growth, offsetting declines in mail and branch services amid challenging market conditions and regulatory headwinds.

• EBIT fell 22% to EUR 73.3 million, and profit for the period dropped 66.7% to EUR 22.8 million, mainly due to accelerated mail volume decline, telecom transformation, and international competition.

• E-commerce & Logistics division was the main growth driver, with revenue up 11.5% and Austrian parcel volumes rising 9%.

• Strategic milestones included the launch of the YELLLOW mobile brand, ongoing growth of bank99, and the acquisition of euShipments.com and D Express.

• Bank division maintained profitability with improved net interest income and lean cost structure.

Financial highlights

• EBITDA declined 5.9% to EUR 187.7 million; EBITDA margin was 12.2%.

• EBIT margin declined to 4.7% from 6.3% year-over-year.

• Earnings per share dropped to EUR 0.32 from EUR 0.99 (-67.4%).

• Operating free cash flow was EUR 116.6 million.

• Net debt/EBITDA ratio at 0.6x; equity ratio at 24%.

Outlook and guidance

• Full-year group revenue expected to slightly increase despite mail volume decline; EBIT guidance maintained in the EUR 180–190 million range, targeting operating earnings similar to recent years.

• Mail, Branch & Services revenue expected to decline mid-single digits; E-commerce & Logistics to grow upper single digits.

• Bank segment expected to maintain positive momentum; investments planned at EUR 140–160 million for logistics, IT, and lockers.

• Risks include further mail volume decline, regulatory impacts on parcels, and currency volatility, especially in Turkey.

• E-commerce & Logistics growth to continue, but at a reduced rate in H2 due to new levies and taxes.