March 12, 2020 / 7:02 AM / 3 months ago

Austrian Post 2019 operating profit down 5%

VIENNA, March 12 (Reuters) - Austrian Post’s reported a 5% fall in last year’s operating profit due to provisions for a data privacy fine and said it would propose a stable dividend of 2.08 euros per share.

Earnings before interest and tax (EBIT) at the majority state-owned group came in at 200.6 million euros ($226.4 million) after 210.9 million euros the previous year. Austria’s data protection authority imposed a fine of 18 million euros on Austrian Post last year for illegally using marketing data.

The group said it would start its new financial services business bank99 in April and expects start-up costs of at least 40 million euros this year and the next. Positive earnings contributions from these services are seen from 2023.

$1 = 0.8860 euros Reporting by Kirsti Knolle Editing by Riham Alkouusaa

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