Oesterreichische Post AG Q4 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 : Two questions. First, can you give us, let's say, a rough estimate of what the direct cost of COVID has been? And also, what kind of EBIT that you extra earned based on your estimates in 2020. We've seen all of these statements from the other players as well. So if you could get an estimate of what you see as a sort of excess of income there? Also for the branch network, can you give us a split of what the bank left you with revenues? Because now there's a number of, I think, EUR 20 million, what is including some pension payments. So if you can split that number that will be welcome. Walter Oblin - +sterreichische Post AG - CFO and Deputy Chairman of the Management Board and Deputy CEO of Mail & Finance Yes, Andre, thanks for your questions. Let me start with the first question, direct cost of COVID. We gave already some numbers in Q2 and Q3 for the full year. We calculated EUR 26 million in COVID-related costs. So this includes items like masks, additional labor cost due to the fact that a number of people were not available for work all the time. Additional costs for transports due to our infection series in April and May, testing programs and so on. So around EUR 25 million, EUR 26 million is the cost that we have digested in our full year P&L. On the bank, so we -- the bank had around EUR 20 million to EUR 23 million pool of revenues. This included some ongoing stable revenues. So roughly half of that is cash payout for pensioners and other people who receive cash payments on their accounts, but in cash. And the second question I understood was, what is the extra kind of the one-off revenue from the pandemic in the parcel business is that correct?

Question: Andre F. M. Mulder - Kepler Cheuvreux, Research Division - Analyst : Looking at the development of the bank. Would you say that you maintain your targets for the sort of longer-term also the bank. So let's say, a breakeven situation or maybe a plus in '23, 260,000 clients. Are those numbers that are still being maintained? Walter Oblin - +sterreichische Post AG - CFO and Deputy Chairman of the Management Board and Deputy CEO of Mail & Finance We will not give a new guidance today. I think they are clearly challenging targets, but we continue to pursue them. Of course, the pandemic has not made life easier. Also the bank in recent months, the interest rate environment is rather changing to the negative side. So I would say, in the last months or since we've talked in Q3 -- it has probably become a little bit more difficult to reach these targets, but we continue to pursue. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MARCH 12, 2021 / 2:00PM, POST.VI - Q4 2020 Oesterreichische Post AG Earnings Call