Austrian Post Mail Division improved after reaching its lowest point in the second quarter. On balance, revenue fell by 9.0 % to EUR 883.3m in the first nine months 2020.
Following the lockdown-related loss in Letter Mail and Direct Mail items mostly in April 2020, the volatility and uncertainty have increased in the third quarter, with the volume of addressed mail items remaining below the long-term trend in particular.
The Parcel & Logistics Division reported a revenue increase of 31.9 % to EUR 576.6m in the first nine months of 2020.
Earnings of the Mail Division fell by EUR 22m in contrast to the EUR 11m increase in the Parcel & Logistics Division in the first three quarters of 2020.
In total, EBIT of the logistics business (excl. Retail & Bank Division) was down by 10.0 % to EUR 118.7m in the first three quarters of 2020.
Austrian Post launched its own banking service
The new bank99 has been operating on the market since April 2020 and is developing a focused offering of financial services.
The bank has already succeeded in attracting more than 54,000 customers until the end of October 2020.
The Retail & Bank Division achieved a negative result of EUR 37.3m due to the start-up costs of bank99 and the impact related to COVID-19.
