Oesterreichische Post AG Q3 2020 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Andre F. M. Mulder - Kepler Cheuvreux, Research Division - Analyst : So 1 question there left. Looking at the postal companies, some are referring to the fact that part of the parcels increase is not structural, and some are even mentioning, let's say, an amount that they expect will not return next year. What's your feeling on that? Are we returning toward a normal level? Or do we see growth from here on, let's say, from an elevated level going forward? Walter Oblin - +sterreichische Post AG - CFO and Deputy Chairman of the Management Board and Deputy CEO of Mail & Finance Yes, Andre, thanks for the question. I mean this is equally difficult to the question on how mail volumes will develop going forward, and what is it temporary? And what is the sustainable impact of the pandemic? I think our view and what we see in the numbers that, of course, the very peak volumes that we saw in April and May have not come back here. This was a time where consumers had no alternative to e-commerce because the shops and nonfood retailers were closed. At the same time, I think we've seen many customers starting to use e-commerce for the first time. And we've seen many consumers buy a [dish] that were active in e-commerce by new categories for the first time. So we think there will be a sustained impact of the pandemic and continuing growth momentum in parcels. Just when we talk about that, let me also once more make you aware that there is a very large customer that is currently building out its own distribution network in Austria as a result of which the market grows, which will not necessarily transfer into parcel growth with Austrian post. But still, we would expect a growth environment also for us for next year.

Question: Andre F. M. Mulder - Kepler Cheuvreux, Research Division - Analyst : Would you say that it's already reached, let's say, a sort of normal level of what you expect further volumes we lost next year? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. NOVEMBER 13, 2020 / 2:00PM, POST.VI - Q3 2020 Oesterreichische Post AG Earnings Call Walter Oblin - +sterreichische Post AG - CFO and Deputy Chairman of the Management Board and Deputy CEO of Mail & Finance No, we do expect further regions to be built up or to be taken out of our volume for next year.