Oesterreichische Post Q1 21 - Accelerating parcel dynamics trigger earnings beat
-Accelerating parcel dynamics trigger Q1 earnings beat-Austrian parcel growth reached the highest dynamic in the last quarters
-EBIT about 10% above RBI and consensus expectations as strong top line trends result in positive scale effects
-Hike of guidance to EBIT growth of 15% yoy, which is slightly above consensus but below RBI estimates
-We rate the Q1 21 reporting as positive
Austrian Post is a logistics and postal services provider in Austria. Its main business activities include the transport and delivery of letters, direct mail items, print media and parcels. Co.'s branch network offers postal, banking and telecommunications products and services to its customers throughout Austria. Co. is also represented by subsidiaries in 12 European markets, particularly in the parcel and logistics segment as well as in unaddressed direct mail items.
The Institutional Equity Research team of Raiffeisen Bank International AG covers 85 stocks from Austria, Central & Eastern Europe with sell-side research and thus levers our local broker status with excellent company relationships. For corporates in Austria, CEE and Western Europe, we offer co-sponsored research, which includes research coverage and marketing activities to investors. Additionally, through our Spotlight Research product we also shed light on leading European small and micro-caps, seeking greater visibility with investors.
The Institutional Equity Research team consists of roughly 15 analysts, both in Vienna and the CEE countries. Our analysts provide long-standing sector expertise in tandem with profound local market know how and a sectoral approach across the entire region.
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