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The Austrian Post brings fewer and fewer letters, but more and more packages. In addition, there are high initial costs to establish your own bank. In total, in the first nine months of the year, with an increase in sales, this led to a 37.4 percent decrease in operating profit (EBIT) to € 81.4 million. How things continue in the fourth quarter largely depends on the development of the pandemic and possible lockdown measures, the Post said on Friday.
Although the mail and advertising business improved compared to the second quarter, the 9 percent drop (to 883 million euros in sales), calculated in nine months, is stronger than in previous years. In the case of parcels, however, there was an increase of 31.9 percent to 576.6 million euros.
Despite this, the increase of 11 million euros in parcel profits could not offset the decrease in profits for letters and advertising of 22.2 million euros, so the profit (EBIT) in the logistics area it fell 10 percent to 118.7 million euros. In addition, a loss of 37.3 million euros was recorded in the branch and bank area, which was caused by installation costs at the bank99.
