Austrian Post H1 2026 Financial Results
Austrian Post (Österreichische Post AG) reported a sharp decline in first‑half profit, which fell 66.7% to €22.8 million compared with €68.4 million a year earlier, translating to earnings per share of €0.32 versus €0.99 in the prior period. In the second quarter alone, profit was €7.5 million, down from €28.8 million year‑on‑year, with EPS of €0.10 versus €0.43.
Group revenue increased 3.8% to €1.54 billion, up from €1.49 billion, primarily supported by the E‑Commerce & Logistics division whose revenue grew 11.5% to €910.9 million. Parcel volumes in Austria rose 9% and the recent consolidation of e‑commerce provider euShipments.com, integrated since March 2026, contributed additional momentum. Second‑quarter group revenue reached €773.3 million, up from €724.6 million, while E‑Commerce & Logistics revenue for the quarter rose to €463.5 million from €398.7 million.
The Mail, Branch & Services division saw revenue fall 7.4% to €566.1 million, reflecting an ongoing structural transformation in the mail business and a realignment of the telecommunications segment. Second‑quarter revenue for this division was €276.1 million, down from €297.3 million. The Bank division reported net interest income of €37.7 million, a 14.9% increase.
EBITDA declined 5.9% to €187.7 million and EBIT dropped 22.0% to €73.3 million. The second‑quarter EBITDA was €93.9 million versus €97.8 million a year earlier, and second‑quarter EBIT fell to €36.5 million from €45.6 million. The financial result recorded a loss of €32.2 million, widening from a €1.8 million loss previously, driven by the valuation of put‑option liabilities linked to Aras Kargo, euShipments.com and Agile Actors.
Free cash flow turned negative €31.7 million for the half, compared with a positive €29.6 million in the same period last year. Cash flow from operating activities dropped to €10.8 million from €28.6 million, and in the second quarter operating cash flow was a negative €126.9 million versus a negative €35.4 million a year earlier.
CEO Walter Oblin stated that despite a challenging market environment the company succeeded in increasing revenue and is continuing its strategic transformation through investments in new business areas, international expansion and infrastructure development. The firm reaffirmed its 2026 outlook, expecting slight full‑year revenue growth, upper single‑digit growth in the parcel business and continued mid‑single‑digit declines in letter and direct mail revenue. A slowdown in cross‑border e‑commerce growth is anticipated in the second half due to national and international customs duties and fees. Operating earnings are expected to remain in the range of recent years, with positive momentum in the second half driven by product and price adjustments and e‑commerce fulfilment. Capital expenditure for 2026 is projected between €140 million and €160 million.
Regulatory measures were noted to have affected volume developments of Asian online retailers operating in the Turkish e‑commerce market.