Austrian Post Grows Revenue 3.8% in H1 Despite Challenging Market Conditions
Austrian Post has published its H1 2026 results, highlighting continued e-commerce growth as letter mail volumes remain under pressure.
Group revenue H1 +3.8% to EUR 1,544.0m
- Revenue growth in E-Commerce & Logistics (+11.5% to EUR 910.9m) supported by new e-commerce provider euShipments.com
- Mail, Branch & Services of EUR 566.1m (–7.4%) due to ongoing structural change in the mail business and realignment of telecom business
- Bank with net interest income of EUR 37.7m (+14.9%)
H1 earnings below previous year, as expected; positive impetus expected in H2
- EBITDA of EUR 187.7m (–5.9%); EBIT of EUR 73.3m (–22.0%)
- Momentum in H2 through product and price adjustments as well as e-commerce fulfillment
Strategy implementation with strong momentum
- Self-service offensive creates historically densest postal network with 3,000 post offices in Austria
- bank99 with product expansions and profitable growth course
- Strong market launch of YELLLOW with good customer ramp-up in the first few months
- International expansion steps through acquisitions: growth in the parcel business in Serbia with D Express and strengthening of the fulfillment business through euShipments.com in Bulgaria
Outlook for 2026 unchanged
- Slight increase in sales forecast for the full year 2026
- The aim is to achieve an operating result in the range of recent years
- Uncertainty due to customs duties and fees in the e-commerce business
DIFFICULT MARKET ENVIRONMENT CHARACTERIZES THE POSTAL INDUSTRY
The year 2026 is characterized by a difficult geopolitical and economic environment. This has an impact in the form of cost pressure and digitization efforts by business customers as well as authorities and public institutions, but also on the purchasing behavior of consumers. This continues the profound change in declining letter volumes, while parcel volumes continue to increase at the same time. Austrian Post is responding to these trends in Austria by offering a wide range of services ranging from postal and logistics services to financial services and a new Internet and mobile telephony offering. In the national and international e-commerce business, the focus on e-fulfillment in particular is becoming increasingly important. In addition, the market environment in the parcel business remains challenging and highly competitive.
REVENUE AND EARNINGS DEVELOPMENT AS FORECAST
In the first half of 2026, Austrian Post generated revenue of EUR 1,544.0m, an increase of 3.8% compared to the same period of the previous year. The growth driver was once again the E-Commerce & Logistics division, which benefited from the continued momentum in online retail and a strong market position in Austria. The division’s revenues increased by 11.5% to EUR 910.9m. In Austria, parcel volumes increased by 9% and thus developed significantly faster than the market. Additional impetus came from the e-commerce fulfillment business with the first-time consolidation of the e-commerce provider euShipments.com, which has been part of the Group since March 2026.
“Despite a challenging market environment, we were able to increase our sales. At the same time, we are consistently driving forward the strategic transformation of our Group – with investments in new business areas, international expansion and the expansion of our infrastructure,” says Walter Oblin, CEO of Austrian Post.
As forecast, earnings in the first half of the year fell below the previous year’s level. EBITDA amounted to EUR 187.7m (–5.9%), while earnings before interest and taxes (EBIT) amounted to EUR 73.3m (–22.0%). Earnings were impacted in particular by the accelerated decline in the mail business, the transformation in the telecom division and the high level of competition in the international markets. In addition, regulatory measures in the Turkish e-commerce market influenced the volume development of Asian shippers.
STRATEGIC DEVELOPMENT: NEW BUSINESS AREAS AND EXPANSION STRENGTHEN AUSTRIAN POST
The strategic milestones of the first half of the year in Austria include the successful launch of the YELLLOW mobile communications brand and the continued positive development of bank99. bank99 generated EBIT of EUR 4.2m in the first half of the year and started its securities custody business in July 2026. The mobile phone brand YELLLOW has recorded a very good customer ramp-up since its launch in April. In its home market of Austria, the company consistently invests in service quality and infrastructure. In the first half of the year, the 3,000th post office was opened. By the end of the year, the network will grow to more than 3,100 locations. The use of post offices continues to increase dynamically, underlining the high level of acceptance of modern 24/7 services. “Even in a changing market environment, Austrian Post sees itself as a reliable basic provider of key day-to-day services,” says Walter Oblin, CEO of Austrian Post. “At bank99, we have succeeded in becoming a recognized and profitable financial service provider within five years.”
Austrian Post also consistently pursued its growth strategy internationally: at the end of July, the acquisition of the Serbian parcel service provider D Express was signed. With this acquisition, Austrian Post is strengthening its market position in Southeastern and Eastern Europe and expanding its international parcel network in a targeted manner. In the Logistics Solutions segment, Austrian Post is focusing on an integrated range of services along the entire e-commerce value chain – from fulfillment and warehouse logistics to cross-border transport solutions and last-mile delivery – with its stake in the e-commerce provider euShipments.com, which was fully consolidated as of March 6, 2026. As a result, shippers will be able to use even more comprehensive logistics and fulfillment services from a single source in the future.
INVESTMENTS AND NEW GROWTH DRIVERS STRENGTHEN THE OUTLOOK
Despite the challenging conditions in the mail and parcel market, Austrian Post is sticking to its outlook for the 2026 financial year. For the full year 2026, the company continues to expect a slight increase in sales. Growth in the parcel business is forecast to be in the upper single-digit percentage range. However, due to numerous national and international customs duties and fees, a weakening of the development in cross-border e-commerce is to be expected in the second half of the year. In the mail and direct mail business, revenue is still expected to decline in the mid-single-digit range. And in the financial services business (banking), a slight increase in revenue is expected, supported by the expansion of the product range. The basic assumption in EBIT remains unchanged that an operating result will be achieved in the range of recent years. For the second half of the year, positive impulses are expected, especially from product and price adjustments as well as the increased focus on e-commerce fulfillment.
Capital expenditure (CAPEX) for 2026 is still expected to be in a range of EUR 140 million to EUR 160 million. The focus is on the modernization and expansion of logistics locations, the further expansion of the parcel terminal network in Southeastern and Eastern Europe and the electrification of the delivery fleet.
