Slide 1: Austrian Post Investor Presentation Q1 2024
AUSTRIAN POST Investor Presentation Q1 2024 Walter Oblin, CFO Vienna, 8 May 2024 INVESTOR PRESENTATION Investor Relations Vienna, 8 May 2024
Slide 2: Austrian Post at a Glance
AUSTRIAN POST AT A GLANCE Revenue mix Q1 2024 Mail Parcel & Logistics Retail & Bank – Letter Mail – Parcels & Express – Branch & Financial Branch & – Direct Mail – Fulfilment & Services Financial Services – Newspapers & Cash Transport – Customer Services Letter Mail & Magazines – E-Commerce Services
Slide 3: Challenging Market Environment Requires Strict Management
CHALLENGING MARKET ENVIRONMENT REQUIRES STRICT MANAGEMENT – Structural decline of letter mail and direct mail volumes – Weak economy negatively impacts retail sector and consumer – Price realisation in all purchasing power in Austria areas is the top priority Year-on-year change (%) – Cost disciplin
Slide 4: Strong Development Despite a Challenging Environment
STRONG DEVELOPMENT DESPITE A CHALLENGING ENVIRONMENT Revenue EUR 758.6m (+14.1%/+10.2% excl. Parcel Türkiye) Δ Q1 2024 Mail +2.3% EUR 315.6m Parcel & Logistics +23.2% EUR 402.9m excl. Parcel Türkiye +16.9% EUR 284.7m Parcel Türkiye +41.4% EUR 118.2m Retail & Bank +26.0% EUR 47.2m EBIT EUR 52.4m (+11
Slide 5: Structural Change Due to Parcel Growth
STRUCTURAL CHANGE DUE TO PARCEL GROWTH Revenue Δ Q1 23/24 EUR m 758.6 +14.1% 664.7 601.4 402.9 +23.2% 327.1 454.1 283.1 64.4 Parcel & Logistics Mail Retail & Bank 348.2 308.6 315.6 +2.3% 298.9 40.9 26.4 37.5 47.2 +26.0% Q1 20101 Q1 2022 Q1 2023 Q1 2024 1 Adjustedpresentation–excl. trans-o-flex INVES
Slide 6: Positive Development of Q1 Group Revenue
POSITIVE DEVELOPMENT OF Q1 GROUP REVENUE Revenue development EUR m +14.1% (+10.2% excl. Parcel Türkiye) Retail & Bank 758.6 – Interest environment and customer ramp-up positively impact revenue 47.2 – Increase in Income from Financial Services to EUR 37.3m (+35.3%) 664.7 +26.0% 37.5 Parcel & Logisti
Slide 7: Q1 2024 Group Results Show Strong Mail and Parcel Business
Q1 2024 GROUP RESULTS SHOW STRONG MAIL AND PARCEL BUSINESS EBIT development EUR m +11.4% Mail – Declining volumes offset by price and cost discipline 52.4 – Q1 earnings up by 3.3% to EUR 42.3m 47.0 -3.5 +0.0 +7.5 Parcel & Logistics +1.3 – Positive earnings development (+44.9% to EUR 24.2m in Q1) – I
Slide 8: Strategy of Austrian Post: Ahead to the Future
STRATEGY OF AUSTRIAN POST: AHEAD TO THE FUTURE INVESTOR PRESENTATION Investor Relations Vienna, 8 May 2024 8
Slide 9: Letter Mail
1 LETTER MAIL Volumes Austria and International Austrian letter mail volumes in Q1 2024 (millions of shipments) (shipments adjusted on a daily basis) Ø -4.3% Ø -5.9% 939 690 541 – Letter mail volumes down 7% YOY Revenue Revenue EUR EUR – Hardly any special mailings 744m 691m and/or effects in Q1 -4%
Slide 10: Priority and Non-Priority Rates in Europe
1 PRIORITY AND NON-PRIORITY RATES IN EUROPE Denmark 2.87 4.01 Italy 1.46 3.40 Estonia 1.81 3.21 Greece 1.67 3.06 Lithuania 2.59 Romania 1.76 2.55 Latvia 2.46 Belgium 1.47 2.31 Finland 2.11 Poland 1.71 2.11 Czech Republic 1.67 2.10 Croatia 1.02 1.76 Slovakia 1.28 1.71 Norway 1.64 Hungary 1.06 1.52 Po
Slide 11: Direct Mail/Media Post in Austria
1 DIRECT MAIL/MEDIA POST IN AUSTRIA Volumes Direct Mail/Media Post volumes in Q1 2024 (millions of shipments) (shipments adjusted on a daily basis) Ø -1.8% p.a. Ø -5.3% p.a. 5,108 4,417 3,554 – 8% decrease in Q1 2024 +9% Direct Mail/Media Post volumes vs. -11% in Q1 2023 Revenue Revenue EUR EUR 543m
Slide 12: Parcel Business in Austria
1 PARCEL BUSINESS IN AUSTRIA Volumes Parcel volumes in Q1 2024 (millions of shipments) (shipments adjusted on a daily basis) Ø +12.0% Ø +9.8% p.a. p.a. 200 Revenue EUR 127 806m +15% – Parcel growth in Austria up by 15% from previous year +5% – Disproportionately high 50 volume growth from Asia Reven
Slide 13: Investments in Sustainable Infrastructure
1 INVESTMENTS IN SUSTAINABLE INFRASTRUCTURE CAPEX (EUR m) CAPEX Q1 2024 161 155 - Maintenance CAPEX of EUR 17.2m 152 143 - Growth CAPEX of EUR 7.8m - Thereof EUR 5.6m invested in green transformation (photovoltaic systems, e-mobility, e-charging infrastructure) CAPEX forecast 2024e Q1 2024 - Expecte
Slide 14: Expansion of Austrian Logistics Infrastructure
1 EXPANSION OF AUSTRIAN LOGISTICS INFRASTRUCTURE 2018 2019 2020 2021 2022 2023 Sorting capacity (parcels/h, cumulative) LC Vienna LC Styria LC Upper Austria 138,000 129,000 LC Lower Austria LC Tyrol 104,000 LC Vorarlberg LC Salzburg 91,000 LC Styria 76,000 LC Lower Austria LC Lower Austria LC Upper
Slide 15: Staff Structure in Austria
1 STAFF STRUCTURE IN AUSTRIA Employees in the Austrian core business Full-time equivalents (average for the period) 21,926 490 -48 17,125 17,077 9,397 -368 Civil Servants -202 Employees Old CLA +522 Employees New CLA 9,870 10,392 New Collective Labour 12,039 3,259 3,057 Agreement Old Collective Labo
Slide 16: Profitable Growth in Near Markets
2 PROFITABLE GROWTH IN NEAR MARKETS Focus on Parcel & Logistics CEE/SEE Türkei Millions of parcels Millions of parcels 206 217 198 206 156 150 70 52 54 34 35 44 2018 2019 2020 2021 2022 2023 2024e 2018 2019 2020 2021 2022 2023 2024e Revenue 2023 Revenue 2023 EUR 198m EUR 355m Locations with own logi
Slide 17: Türkiye: Positive Operational Business Development
2 TÜRKIYE: POSITIVE OPERATIONAL BUSINESS DEVELOPMENT Financial indicators – Positive volume development (parcels and documents +6%) and TRY revenue Revenue development (+137%) – EBIT margin above the Group average +137% +41% – About 50% of cash on hand on the balance sheet in EUR/USD – All investmen
Slide 18: Positive Momentum Due to Improved Interest-Rate Environment
3 POSITIVE MOMENTUM DUE TO IMPROVED INTEREST-RATE ENVIRONMENT 31.12.2023 31.03.2024 bank99 balance sheet total Top issues 2024 as at 31.03.2024 EUR bn 3.5 3.5 Retail and digital bank Migration of core banking Equity, systems Financial 0.3 other − Exit ING Orange Lion assets, 0.8 − ONE customer-manag
Slide 19: Self-Service Solutions Are Very Popular with Post Customers
3 SELF-SERVICE SOLUTIONS ARE VERY POPULAR WITH POST CUSTOMERS Volumes 24/7 (millions of items) First Mile (send, return) Last Mile (receive) 27.3 23.4 21.6 650 Drop-off devices 17.6 Q1 +15.6% 13.8 75,267 11.3 Pick-up boxes 8.3 5.9 3.4 114,811 1.3 Lockers at pick-up stations 2014 2015 2016 2017 2018
Slide 20: E-Trucks on the Road Now
E-TRUCKS ON THE ROAD NOW Key data – 2 electric trucks in use – Shuttle service between Vienna- Schwechat Airport and Vienna Logistics Centre – Investment costs: approx. EUR 1m – Save 117 tonnes of CO2 emissions/year INVESTOR PRESENTATION Investor Relations Vienna, 8 May 2024 20
Slide 21: Austrian Post Truck Fleet Uses Fossil-Free Fuel HVO
AUSTRIAN POST TRUCK FLEET USES FOSSIL-FREE FUEL HVO – Successful test operation with HVO100 completed – Conversion of the truck fleet from diesel to Hydrotreated Vegetable Oils by mid-2024 (180 vehicles) – Up to 80% reduction in CO2 emissions Upper Austria Vienna since March 2024 Lower Austria Burge
Slide 22: Financial Indicators at a Glance
FINANCIAL INDICATORS AT A GLANCE Q1 2023 Q1 2024 Revenue (EUR m) 664.7 758.6 Revenue up by 14.1% EBITDA margin (%) 14.3 13.6 EBITDA margin of 13.6% EBIT margin (%) 7.1 6.9 EBIT margin of 6.9% slightly lower YOY Earnings/share (EUR) 0.46 0.59 Improved earnings per share of EUR 0.59 Cash flow (EUR m)
Slide 23: Key Income Statement Indicators
KEY INCOME STATEMENT INDICATORS EUR m Q1 2023 Q1 2024 % ∆ Positive revenue development in all operating divisions: Revenue 664.7 758.6 14.1% 94.0 Mail +2.3% Other operating income 18.6 23.6 26.7% 5.0 Parcel & Logistics +23.2% Retail & Bank +26.0% Raw materials, consumables and services used -197.6 -
Slide 24: Mail Division: Revenue Development in Q1 2024
MAIL DIVISION: REVENUE DEVELOPMENT IN Q1 2024 Revenue development EUR m +2.3% 308.6 315.6 Direct Mail / Media Post – Positive revenue development despite subdued advertising environment 110.4 +4.1% 114.9 – Several market segments are under pressure (furniture, mail order business) – Consolidation in
Slide 25: Mail Division: Key Income Statement Indicators
MAIL DIVISION: KEY INCOME STATEMENT INDICATORS EUR m Q1 2023 Q1 2024 % ∆ Product and postal rate adjustments compensate for Revenue 308.6 315.6 2.3% 7.0 letter mail volume decline • Letter Mail & Business Solutions 198.2 200.6 1.2% 2.5 • Direct Mail 79.2 81.4 2.8% 2.2 • Media Post 31.2 33.6 7.4% 2.3
Slide 26: Parcel & Logistics Division: Revenue Development in Q1 2024
PARCEL & LOGISTICS DIVISION: REVENUE DEVELOPMENT IN Q1 2024 Revenue development EUR m +23.2% (+16.9% excl. Parcel Türkiye) Logistics Solutions/Consolidation 402.9 – Logistics services stable -9.3% 13.7 – Negative consolidation effects 55.5 327.1 +27.9% Parcel CEE/SEE 15.1 – Revenue: +27.9% 43.4 – Sh
Slide 27: Parcel & Logistics Division: Key Income Statement Indicators
PARCEL & LOGISTICS DIVISION: KEY INCOME STATEMENT INDICATORS EUR m Q1 2023 Q1 2024 % ∆ Very positive volume and Revenue 327.1 402.9 23.2% 75.8 revenue development in all parcel regions • Parcel Austria 185.0 215.5 16.4% 30.4 • Parcel Türkiye 83.6 118.2 41.4% 34.6 Revenue increase driven by inflation
Slide 28: Retail & Bank Division: Revenue Development in Q1 2024
RETAIL & BANK DIVISION: REVENUE DEVELOPMENT IN Q1 2024 Revenue development EUR m +26.0% 47.2 10.0 Branch Services 37.5 – Revenue up by 0.7% +0.7% – Price adjustments for retail goods 9.9 37.3 Income from Financial Services +35.3% – Revenue increase by 35.3% 27.6 – Net interest income due to higher E
Slide 29: Retail & Bank Division: Key Income Statement Indicators
RETAIL & BANK DIVISION: KEY INCOME STATEMENT INDICATORS EUR m Q1 2023 Q1 2024 % ∆ Revenue 37.5 47.2 26.0% 9.8 Income from Financial • Income from Financial Services 27.6 37.3 35.3% 9.7 Services continues to be driven by higher key interest • Branch Services 9.9 10.0 0.7% 0.1 rates and customer growt
Slide 30: Solid Balance Sheet and Financing Structure
SOLID BALANCE SHEET AND FINANCING STRUCTURE EUR m 5,920.4 5,920.4 31.03.2024 Cash, money market/securities investments 142.6 127.9 Financial assets, investment property 650.3 Other financial liabilities Loans of EUR 225m and lease liabilities of EUR 402m (IFRS 16) 584.7 Liabilities/Other Financial d
Slide 31: Operating Free Cash Flow of EUR 72m
OPERATING FREE CASH FLOW OF EUR 72M EUR m 86.9 +2.6 72.3 +0.2 64.8 -17.2 -7.8 Investments in green transformation of EUR 5.6m: photovoltaic systems, e-mobility, e-charging infrastructure Cashflow aus Geschäfts- Maintenance Other Operating Growth Acquisitions/ Free Cashflow tätigkeit exkl. Core CAPEX
Slide 32: Outlook for 2024
OUTLOOK FOR 2024 Market – Low forecasts for international growth and unfavourable purchase behaviour of customers environment – Decline of letter mail and direct mail, growing parcel volumes – Expected positive revenue development: growth in the mid single-digit range – Mail Division: assumption of
Slide 33: Contact
CONTACT Austrian Post Financial calendar 2024 Investor Relations 07 August 2024 Half-Year Report 2024 Rochusplatz 1, 1030 Vienna 06 November 2024 Interim Report Q1-3 2024 Website: post.at/investor E-mail: investor@post.at Phone: +43 57767-30400 Disclaimer This presentation contains forward-looking s