euro adhoc: Österreichische Post AG
quarterly or semiannual financial
statement
Austrian Post: Strong Results in First Half 2006
11.08.2006 – 08:38
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
11.08.2006
Austrian Post: Strong Results in First Half 2006 Revenues up 3.0%; EBIT up 17.9%
- Mail Division delivers revenue increase and stable earnings - Parcel & Logistics Division with strong growth in revenues and earnings - Branch Network Division achieves lasting turnaround - Cash flow from operating activities before changes in working capital up 8.4% to EUR 141.7m - Outlook for 2006: EBIT growth of 10-15% expected
The first half of the 2006 financial year was extremely satisfactory for Austrian Post. The stock market listing in May was very successful, and the business operations of the company developed very favourably. Revenues rose by 3% to EUR 861.4m, and EBIT climbed 17.9% to EUR 66.3m.
Improved revenues in all divisions Based on growth in all its divisions, Austrian Post posted sales revenues of EUR 861.4m in first half 2006. This represents an increase of EUR 25.4m, or 3.0% higher than in the same period last year. This improvement was chiefly attributable to increases in revenues of EUR 11.8m from the Mail Division (+1.9%) and of EUR 9.9m from the Parcel & Logistics Division (+9.7%).
Business activities in the Mail Division were characterised by an increase in the volume of direct mail (advertising). The business development of the Parcel & Logistics Division was also very favourable, as a result of the increased revenues generated by the Internet mail order business. The Branch Network Division also posted revenue growth.
Revenue
EUR m H1 H1 Change 2005 2006 Post Group 836.0 861.4 +3.0% Mail Division 638.7 650.5 +1.9% Parcel & Logisitics Divison 101.5 111.4 +9.7% Branch Network Division 93.3 96.8 +3.7% Other/Consolidation 2.4 2.7 +12.5% Earnings up 17.9% In the first half of 2006, Austrian Post increased EBIT to EUR 66.3m, or by 17.9% year on year. The EBIT margin advanced to 7.7%. EBITDA for the first half
year of EUR 117.9m was up 14.5% compared with last year, pushing up the EBITDA margin to 13.7%.
EUR m H1 H1 Change 2005 2006 Revenue 836,0 861,4 +3,0% EBITDA 103,0 117,9 +14,5% EBIT 56,2 66,3 +17,9% All operating divisions made a positive contribution to earnings. EBIT for the
Mail Division was EUR 131.3m, for the Parcel & Logistics Division EUR 9.5m and for the Branch Network Division EUR 11.0m.
Operating cash flow before changes in working capital rose to EUR 141.7m, a rise of 8.4% in comparison with the same period last year. The increase is attributable to the improvement in earnings and to higher provisions and depreciation. The increase in cash and cash equivalents totalled EUR 83.2m, after payment of the EUR 40m dividend for financial 2005.
Positive outlook for 2006 Austrian Post expects a stable mail market throughout 2006. Based on present trends, it is unlikely that the further liberalisation that came into effect on 1 January 2006, combined with third party access to cluster box units in Austria, will have any significant impact on Austrian Post's overall performance in 2006. The situation with respect to financial partner BAWAG P.S.K. appears to be stabilising, so that there should be no significant negative effects on revenues from financial services in the branches during the current financial year.
On this basis, Group revenue is expected to increase slightly in 2006, with EBIT projected to grow by 10% to 15% compared to last year's level of EUR 103.0m. Austrian Post's medium-term goal is to maintain its EBIT margin in the 7% to 8% range.
end of announcement euro adhoc 11.08.2006 08:01:24
Further inquiry note:
Austrian Post
Investor Relations:
Harald Hagenauer
Tel.: +43(1)515 51-30401
mailto:harald.hagenauer@post.at
Corporate Communications/Public Relations:
Michael Homola
Tel.: +43(1)515 51-32010
mailto:michael.homola@post.at
Branche: Transport
ISIN: AT0000APOST4
WKN: A0JML5
Index: ATX Prime
Börsen: Wiener Börse AG / stock market
Original content of: �sterreichische Post AG, transmitted by news aktuell