May 14, 2020 / 5:39 AM / 14 days ago

BRIEF-Oesterreichische Post Q1 EBIT Down At EUR 33.3 Million

May 14 (Reuters) - OESTERREICHISCHE POST AG:

* REDUCED Q1 GROUP EARNINGS (EBIT) OF EUR 33.3M

* Q1 PROFIT FOR THE PERIOD EUR 26.2 MILLION VERSUS EUR 43.3 MILLION YEAR AGO

* 2020 GROUP RESULTS ARE STILL UNPREDICTABLE

* OBJECTIVE IS TO MAINTAIN REVENUE DEVELOPMENT AS STABLE AS POSSIBLE

* WITH RESPECT TO EARNINGS, REVENUE LOSSES IN HIGH-MARGIN MAIL DIVISION CANNOT BE OFFSET BY INCREASING PARCEL REVENUES

* EBIT WILL DECLINE IN CURRENT FINANCIAL YEAR AS A CONSEQUENCE OF DIRECT AND INDIRECT COVID-19 EFFECTS

* IN ADDITION TO REGULAR MAINTENANCE CAPEX OF ABOUT EUR 70M MORE THAN EUR 50M OF GROWTH INVESTMENTS ARE PLANNED AGAIN

* TARGETED INVESTMENTS AND MEASURES SHOULD CONTRIBUTE TO INCREASE EARNINGS AT ALL DIVISIONS AND THUS AGAIN IMPROVE GROUP RESULTS FOR 2021

* THERE IS A POSSIBILITY OF EXPANDING OR NEWLY ACQUIRING REAL ESTATE PROPERTY FOR LOGISTICS INFRASTRUCTURE Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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