Austrian Post AG plans own business parcel services
Austrian postal company Oesterreichische Post AG will sever its cooperation with parcel service company DPD and launch its own business-to-business parcel services in 2007, the Post AG supervisory board decided on September 2, 2005.
In the next two weeks Post AG will also buy a parcel service company in the Czech Republic, which CEO Anton Wais called the largest acquisition in the history of Post AG, referring to a well-known company. Wais, however, gave no details.
Following the withdrawal from DPD Post AG is also considering acquisitions in Hungary and Bulgaria. Recently it bought Hungary’s direct handbill distributor feibra.
Wais declined to say how much the new strategy would cost. The company’s CFO Rudolf Jettmar did not rule out a capital increasye after the possible initial public offering (IPO) of Post AG. For the expansion of its business-to-business parcel services Post AG plans to spend 3.0 mln euro ($3.7 mln) in the next two years. Experts consider teh sum unsufficient.
Post AG raised its revenue 1.0 pct year-on-year to 805 mln euro ($1.004 bln) in the first half of 2005, Jettmar said. Growth was registered in all activities. Earnings from ordinary operations rose by 19 pct to 59.2 mln euro ($73.9 mln), while earnings before interest and tax (EBIT) stood unchanged at 49 mln euro ($61.1 mln).
Adapted by AII Data Processing for APA.
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