Austria Post 2007 EBIT up 32 pct
Austrian postal service Oesterreichische Post’s operating profit in 2007 was up 32 percent at 162.8 million euros (USD 251.9 million), in line with forecasts, it said on Tuesday.
Revenue was up 33 percent at 2.32 billion euros.
It said a major contribution to revenue growth was made by the consolidation of the trans-o-flex parcels and logistics operation acquired in 2006.
Analysts in a Reuters survey expected on average a 33 percent increase in 2007 sales to 2.3 billion euros and a 33 percent rise in earnings before interest and tax (EBIT) to 163.5 million euros.
The company itself forecast 2.2 billion euros sales and 160 million in EBIT.
Oesterreichische Post shares have outperformed the main ATX index by 30 percent so far this year.
It said it expected revenue in 2008 to be stable to slightly lower and EBIT to be slightly down on 2007.
The company proposed a dividend of 1.4 euros per share, up from 1.0 euro, and a special dividend of 1.0 euro.
It proposed a share buyback of up to 10 percent of its share capital over 18 months. The company has a market capitalisation of 1.77 billion euros.
Analysts had expected a rise in turnover because of acquisitions in letters and in logistics. The company said it made 10 acquisitions in 2007.
The loss of some big customers in the field of packages would only be reflected in this year’s numbers, they said. The company has already cut 360 jobs in its package distribution centres.
Oesterreichische Post expects its domestic parcel business to stay in the black next year despite the loss of two high-profile contracts, the company said in December.
German mail-order houses Quelle and Otto hired a competitor to deliver their parcels in Austria last year. As a consequence, the state-owned operator will close a third of its 21 parcel distribution centres to cut costs, it said.
Its logistics unit, which has acquired companies in Germany and central Europe and makes 75 percent of its revenue abroad, and its domestic parcel business will both post positive earnings before interest and tax next year, it said.
Austrian postal service Oesterreichische Post’s operating profit in 2007 was up 32 percent at 162.8 million euros (USD 251.9 million), in line with forecasts, it said on Tuesday.
Revenue was up 33 percent at 2.32 billion euros.
It said a major contribution to revenue growth was made by the consolidation of the trans-o-flex parcels and logistics operation acquired in 2006.
Analysts in a Reuters survey expected on average a 33 percent increase in 2007 sales to 2.3 billion euros and a 33 percent rise in earnings before interest and tax (EBIT) to 163.5 million euros.
The company itself forecast 2.2 billion euros sales and 160 million in EBIT.
Oesterreichische Post shares have outperformed the main ATX index by 30 percent so far this year.
It said it expected revenue in 2008 to be stable to slightly lower and EBIT to be slightly down on 2007.
The company proposed a dividend of 1.4 euros per share, up from 1.0 euro, and a special dividend of 1.0 euro.
It proposed a share buyback of up to 10 percent of its share capital over 18 months. The company has a market capitalisation of 1.77 billion euros.
Analysts had expected a rise in turnover because of acquisitions in letters and in logistics. The company said it made 10 acquisitions in 2007.
The loss of some big customers in the field of packages would only be reflected in this year’s numbers, they said. The company has already cut 360 jobs in its package distribution centres.
Oesterreichische Post expects its domestic parcel business to stay in the black next year despite the loss of two high-profile contracts, the company said in December.
German mail-order houses Quelle and Otto hired a competitor to deliver their parcels in Austria last year. As a consequence, the state-owned operator will close a third of its 21 parcel distribution centres to cut costs, it said.
Its logistics unit, which has acquired companies in Germany and central Europe and makes 75 percent of its revenue abroad, and its domestic parcel business will both post positive earnings before interest and tax next year, it said.
