Austrian Post: Solid development in Q1-Q3 2007
Austrian Post performed very positively in the first nine months of 2007. Austrian Post increased its total revenues by 31.2 pct, to EUR 1,667.3m. A major contribution to the growth in revenues (about EUR 360m) can be attributed to the initial inclusion of trans-o-flex (Parcel & Logistics Division), which was acquired at the end of 2006. On balance, revenues from the Mail Division were up 3.3 pct during the first three quarters of 2007, and the Parcel & Logistics Division improved by 225.1 pct in the same period. In contrast, the Branch Network Division posted a decline in revenues of 2.5 pct. Austrian Post’s performance in the third quarter basically followed the same pattern. Total Austrian Post revenues improved by 34.4 pct in Q3 2007, to EUR 550.4m. Revenues in the Mail Division increased by 6.1 pct compared to Q3 2006, the Parcel & Logistics Division improved by 234.5 pct, whereas Branch Network Division revenues fell by 1.2 pct.
The structure of the income statement of Austrian Post has changed considerably as a result of the consolidation of trans-o-flex, which features a very flexible cost structure, comparatively low staff costs and a high level of external services used. Accordingly, Austrian Post’s staff costs now only comprise about 50 pct of total revenues (previously more than 60 pct), whereas the share of expenses for raw materials, consumables and services used has climbed to roughly 29 pct of total revenues (previously about 15 pct).
In the first three quarters of 2007, the EBIT (earnings before interest and tax) of Austrian Post increased by 26.2 pct, to EUR 118.3m, in comparison to the preceding year. Accordingly, the EBIT margin amounted to 7.1 pct. In Q3 2007, Austrian Post achieved an EBIT of EUR 33.3m, up from EUR 27.4m in Q3 2006.
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