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other/Preliminary Results 2014
Austrian Post achieved solid business results in the 2014 financial year,
according to liminary figures. In line with the existing outlook, the company
reported a stable revenue development. On balance, Group revenue in 2014
amounted to EUR 2,371m, a rise of 0.2% from EUR 2,367m in the vious year. The
revenue trends of the first three quarters 2014 continued in the fourth quarter.
The Mail & Branch Network Division registered a 1.5% revenue decline during the
year to EUR 1,488m, down from EUR 1,510m in the vious year. This was more
than compensated by the Parcel & Logistics Division, which generated a revenue
increase of 3.1% to EUR 882m in 2014, up from the prior-year level of EUR 856m.
The decrease in the mail business was due to the ongoing trend towards
electronic substitution of letters and declining direct mail volumes. At the
same time, revenue from branch network services also fell in 2014. From a
regional perspective, the Parcel & Logistics Division showed a slight revenue
drop in the highly competitive German market. In contrast, a significant
top-line increase was achieved in Austria and in South East and Eastern Europe.
The announced earnings objective of further improving Group EBIT was also
achieved. According to liminary figures, EBIT rose 5.9% in the 2014 financial
year to EUR 197m (2013: EUR 186m). However, whereas the operational development
of the mail and parcel businesses showed a continuation of the trends vailing
in vious quarters, earnings in 2014 were also impacted by various special
The sale of Austrian Post’s former corporate headquarters located on Postgasse
in Vienna’s inner city to the Soravia Group was a positive special effect which
led to operating income of EUR 62m from the transaction. At the same time, also
negative special effects had an impact on the earnings development of the Group.
The German subsidiary trans-o-flex Group is in the midst of a restructuring
process as a consequence of the highly competitive market environment. The
related write-downs and structural measures as well as the impairment loss on
goodwill (non-cash) led to a negative earnings effect totaling EUR 49m.
Impairment losses of EUR 10m were also recognised for Austrian Post’s mail
subsidiaries in the CEE region.
On balance, the liminary Group profit for the period in 2014 rose to EUR
147m, corresponding to earnings of EUR 2.17 per share compared to EUR 1.82 in
2013. However, the vious year was impacted by a negative effect in the
financial result related to the joint venture MEILLERGHP.
Group cash flow before acquisitions and disposal of securities amounted to EUR
152m in 2014, thus remaining at a stable high level compared to EUR 154m in
2013. This solid cash flow comprises a good basis to finance future investments
and dividends payments.
The final results for 2014 will be announced on March 12, 2015.
Further inquiry note:
Head of Investor Relations, Group Auditing & Compliance
Tel.: +43 (0) 57767-30400
Tel.: +43 (0) 57767-32010
end of announcement euro adhoc
issuer: Österreichische Post AG
phone: +43 (0)57767-0
indexes: ATX Prime, ATX
stockmarkets: official market: Wien
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