Österreichische Post AG reported consolidated financial results for the second quarter and first half year ended June 30, 2018. For the quarter, the company reported revenue of EUR 465.0 million against EUR 464.6 million for the same period of last year. Total operating income was EUR 478.0 million against EUR 481.0 million for the same period of last year. Profit from operations was EUR 48.0 million against EUR 49.0 million for the same period of last year. Profit before tax was EUR 47.9 million against EUR 49.9 million for the same period of last year. Profit for the period attributable to shareholders of the parent company was EUR 35.8 million against EUR 34.0 million for the same period of last year. Diluted earnings per share was EUR 0.53 against EUR 0.50 for the same period of last year. EBITDA was EUR 65.6 million against EUR 67.9 million for the same period of last year. EBIT was EUR 47.8 million against EUR 48.4 million for the same period of last year.

For the six months, revenue was EUR 953.7 million against EUR 955.2 million for the same period of last year. Total operating income was EUR 981.4 million against EUR 1,006.2 million for the same period of last year. Profit from operations was EUR 102.9 million against EUR 106.3 million for the same period of last year. Profit before tax was EUR 102.1 million against EUR 108.2 million for the same period of last year. Profit for the period attributable to shareholders of the parent company was EUR 76.3 million against EUR 75.9 million for the same period of last year. Diluted earnings per share was EUR 1.13 against EUR 1.12 for the same period of last year. Cash flow from operating activities was EUR 108.9 million against EUR 173.4 million for the same period of last year. Acquisition of intangible assets was EUR 3.8 million against EUR 4.5 million for the same period of last year. Acquisition of property, plant and equipment/investment property was EUR 28.0 million against EUR 67.4 million for the same period of last year. EBITDA was EUR 143.3 million against EUR 144.3 million for the same period of last year. EBIT was EUR 102.2 million against EUR 105.1 million for the same period of last year.

With respect to its earnings development, Austrian Post continues to pursue the goal of generating stable operating earnings in 2018. In spite of declining volumes, the company anticipates good capacity utilisation of its mail logistics infrastructure, which is now being used more efficiently through the joint delivery of letters and parcels. At the same time, Austrian Post will have to meet the challenges of a redimensioned financial services business. In terms of the outlook, it confirm the outlook it communicated previously and continue to target stability in revenue and operating earnings for the full year 2018. On the investment side it expects EUR 60 million to EUR 70 million, maybe little bit more in maintenance CapEx and growth CapEx north of EUR 50 million, potentially one or the other plot. And finally, on the earnings level, it target is to achieve last year's EBIT, which was around EUR 208 million. The company announced that it in addition to the ongoing basic investments in the core business of about EUR 60 to 70 million annually, additional growth investments in the field of parcel logistics are planned for the coming years. The objective is to expand existing sorting capacities as quickly as possible and invest at least EUR 50 million for this purpose in 2018. In addition, there is a possibility of expanding existing commercial properties or to acquire new land. As in the past, the operating cash flow generated by Austrian Post will continue to be used prudently and in a targeted manner to finance sustainable, future-oriented investments. The company announced that tax rate for the second half year, it should be a normal tax rate and for the full year, it will be higher.