Austrian Post EBIT reportedly up 5.0 Pct Y/Y 2005
Austrian state-owned postal company Oesterreichische Post AG increased its earnings before interest and tax (EBIT) by 5.0 pct year-on-year to 91.2 mln euro ($110.5 mln) in 2005, sources close to the company said on January 11, 2006.
Post AG revenue rose by 2.0 pct to 1.626 bln euro ($1.969 bln). The number of employees decreased to 24,000 in 2005 from 25,400 in 2004.
The company, which is expected to announce its final 2005 results in February 2006, did not confirm these figures.
In September 2005, Post AG forecast a 1.613 bln euro ($1.954 bln) revenue and 90 mln euro ($109 mln) EBIT for 2005.
The current value of Post AG is estimated at between 800 mln euro ($969.3 mln) and 1.5 bln euro ($1.817 bln). The Austrian government plans to launch an initial public offering (IPO) for up to 49 pct in Post AG.
Adapted by AII Data Processing for APA.
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Austrian Post AG 2005 EBIT Expected at 91.2 Mln Euro
APA Economic/corporate news service 01-16-2006
Vienna (APA/ADP) – Austrian postal company Oesterreichische Post AG expects to raise its earnings before interest and tax (EBIT) by almost 5.0 pct year-on-year to 91.2 mln euro ($110.8 mln) in 2005, Post AG CFO Rudolf Jettmar said on January 13, 2006.
The company further expects to increase its EBIT-Margin in 2005 from 5.4 pct in 2004. According to preliminary estimates turnover increased 2.0 pct year-on-year to 1.626 bln euro ($1.98 bln) in 2005.
Post AG (www.post.at) will slightly exceed its forecast from the first half of 2005, but Jettmar did not comment the unofficial figures.
The company will seek to maintain or to increase its dividend payout in the next years after paying 36 mln euro ($43.7 mln) in 2004.
Planned acquisitions are to be funded by the cash-flow and liquid assets, Jettmar said. The company will seek to raise fresh capital for further acquisitions on the capital market after its initial public offering (IPO).
Austrian Post will also seek to expand to southern Europe and other European countries. The company expects that the investments will have an effect on its balance sheet no later than 2009.
Post AG will mainly invest in the expansion of a new logistics network. The company entered cooperation with German logistics company Transoflex in December 2005. According to earlier reports, Transoflex is worth between 400 mln euro ($485.9 mln) and 500 mln euro ($607.4 mln).
Following the closure of about 1,000 postal offices since 2001, Post AG plans to invest about 10 mln euro ($12.2 mln) a year in the renovation of the remaining 1,338 locations. This means that some 50 branches will be restructured a year.
Adapted by AII Data Processing for APA.
