07.08.2020,
28194 Zeichen
Corporate news transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is responsible for the content of this announcement.
Quarterly Report
Vienna, 7 August 2020 - AUSTRIAN POST H1 2020 / Stable Revenue, Earnings
affected by COVID-19
Business development impacted by COVID-19 in the first half of 2020
Revenue decline in the mail business affects earnings:
Reduction in Letter Mail revenue (6.7 % or EUR 27.5m) and absence of Direct Mail (18.0 % or EUR 33.5m)\nNegative COVID-19 effect in the EBIT in H1 of about EUR 45m due to extraordinary health measures, higher logistics costs and revenue loss\nRevenue remains stable despite COVID-19
Revenue H1 up by 0.1 % to EUR 981.9m (-2.0 % in Q2 to EUR 479.1m)\nGood Parcel growth (+30.0 %) offsets Letter and Direct Mail decline (-10.5 %)\nEarnings with COVID-19 effect and bank99 start-up costs
* EBIT of the logistics business (excl. Retail & Bank Division) of EUR 76.9m in
H1 (-27.4 %)
o Mail with earnings decline by EUR 30.3m (-29.3 %)
o Parcel & Logistics with earnings growth of EUR 3.3m (+22.1 %)
* Group EBIT of EUR 48.2m (-55.2 %)
o Retail & Bank with earnings of EUR -28.7m due to bank99 start-up costs
Cash flow and balance sheet
Operating free cash flow of EUR 45.3m below prior-year level\nHigher balance sheet total of EUR 2,157.2m (+5.6 %) as result of the start-up of bank99\nOutlook 2020 with initial cautious forecast
Largely stable revenue in 2020; Revenue increase expected after the full consolidation of the Turkish company Aras Kargo\nEBIT of the logistics business (excl. Retail & Bank Division) forecast of at least EUR 160m\nGroup EBIT in 2020 with positive effect from full consolidation of Aras Kargo and negative impact from start-up of bank99\nEarnings improvement targeted in all divisions in 2021\nThe first half of 2020 presented major challenges for many companies across the
globe, including Austrian Post. The company's priorities were determined, on the
one hand, by the COVID-19 pandemic and related safety and health protection
measures, and on the other hand, by the negative economic impacts. In
particular, the second quarter of 2020 brought about the most significant
disruption of the last ten years due to lockdown and economic standstill in some
industries.
In spite of the considerably more difficult conditions, Austrian Post succeeded
in maintaining the nationwide supply of mail, parcel and branch network services
thanks to the tireless commitment of all employees, although the fulfilment of
delivery obligations wasn't necessarily profitable and government regulations
and crisis measures produced extra costs. "Upon initial review, our conclusion
is that we managed to preserve the safety and health of employees and safeguard
the performance capabilities of the company. This entailed considerable costs to
ensure staff safety and resulted in extremely high capacity utilisation of the
logistics infrastructure to handle the additional parcel volumes of up to 50 %
per week", says CEO
Georg Pölzl.
"Against this backdrop, first half-year 2020 revenue exceeded our expectations
and earnings were in line with current expectations", CEO Georg Pölzl adds.
Austrian Post's Group revenue amounted to EUR 981.9m, slightly higher than the
prior-year level (+0.1 %). The dynamically growing parcel business showed a
significant increase of 30.0 %, compensating for the decline in the Mail and
Retail & Bank divisions.
In the Mail Division, the expected shortfalls resulted in a revenue decrease of
10.5 %. This is, on the one hand, due to a significant decline in conventional
Letter Mail volumes triggered by the closure of many governmental offices and
businesses. On the other hand, Direct Mail revenue was also significantly
impaired by the government-imposed store closings in response to COVID-19.
The revenue of the Parcel & Logistics Division was driven by organic growth from
online orders as well as additional parcel volumes generated through the
cooperation with Deutsche Post DHL Group since August 2019. The 34.6 % revenue
decrease in the newly created Retail & Bank Division in the first half of 2020
is due to the inaugural launch of bank99 on 1 April 2020, whereas the first half
of the previous year still included service fees from the previous banking
partner of EUR 18.8m.
The earnings development of the first half-year reflects the dynamics of the
different business areas and the impacts of COVID-19. On balance, the negative
COVID-19 effects amounted to about EUR 45m in total as a result of extraordinary
health measures and logistics costs (about EUR 20m) as well as the impact on
earnings related to the revenue loss (about EUR 25m). The revenue decrease in
the Letter Mail and Direct Mail business areas have a strong impact on earnings
due to the high level of fixed costs. In contrast, the Parcel business benefited
from the massive impetus in
e-commerce but is generally subject to higher variable costs. Furthermore,
additional expenses arose over the past months to ensure Austrian Post's ability
to handle the unexpected rise in parcel volumes of up to 50 % during some weeks.
EBIT of the logistics business (excl. Retail & Bank Division) was down by 27.4 %
in the first half-year to EUR 76.9m.
The start-up of bank99 presents a significant special effect in 2020. bank99 has
been operating on the market since the beginning of April and will feature a
focused offering of financial services. The bank has already succeeded in
attracting more than 42,000 customers in the first four months and recorded
initial financial services revenue. The objective is to add new products to the
financial services offering in the upcoming quarterly periods and generate
positive earnings contributions by 2023. Accordingly, the Retail & Bank Division
produced a negative earnings contribution of EUR 28.7m due to the start-up costs
for bank99 and the impact related to COVID-19. Group EBIT in the first half of
2020 totalled EUR 48.2m, down from EUR 107.7m in the first half of 2019.
Earnings per share equalled EUR 0.66, compared to EUR 1.17 in the previous year.
A forecast for revenue and earnings in the 2020 financial year is not possible
at present due to the currently hard-to-assess economic situation in many
customer segments facing uncertainty. The further development of the COVID-19
pandemic, the resulting government measures as well as the manner and extent to
which the economy rebounds will all have a direct impact on the company's
further business development in 2020. Against the backdrop of current trends,
and assuming an ongoing recovery of the economic situation, it is expected that
revenue will remain largely stable in 2020. The full consolidation of the
Turkish company Aras Kargo will contribute to revenue growth over the year 2020.
In terms of earnings, the forecast for 2020 assumes that the EBIT of the
logistics business (excl. Retail & Bank Division) will equal to at least EUR
160m for the full year 2020. Group EBIT (basis EBIT 2019: EUR 201m) will be
impacted by two additional effects, on the one side the positive effect from the
full consolidation of the Turkish company Aras Kargo and, on the other side, the
negative effect related to the start-up costs of bank99. The necessary long-term
investments and start-up costs should steadily decline in the coming quarterly
periods.
Austrian Post will continue to pursue investments and measurements that lead to
an extension of capacities and to sustainable efficiency enhancement. Targeted
investments and measures should contribute to an earnings improvement in all
divisions and will therefore increase the Group earnings in 2021.
KEY FIGURES
Change
EUR m H1 2019 H1 2020 % EUR m Q2 2019 Q2 2020
Revenue 981.1 981.9 0.1 % 0.8 488.6 479.1
Mail1 660.2 590.6 -10.5 % -69.6 327.3 273.1
Parcel & Logistics1 283.0 367.9 30.0 % 84.9 142.0 193.4
Retail & Bank1 43.8 28.6 -34.6 % -15.1 21.9 15.5
Corporate/Consolidation1 -5.9 -5.3 10.6 % 0.6 -2.6 -2.8
Other operating income 42.2 28.4 -32.8 % -13.8 21.2 15.0
Raw materials, consumables and -218.7 -247.5 -13.1 % -28.7 -108.5 -127.2
services used
Staff costs -507.3 -494.7 2.5 % 12.6 -255.6 -241.2
Other operating expenses -134.7 -156.3 -16.1 % -21.7 -68.3 -79.3
Equity result -0.5 0.5 >100 % 0.9 0.2 0.5
EBITDA 162.2 112.3 -30.8 % -49.9 77.6 46.9
Depreciation, amortisation and -54.5 -64.0 -17.6 % -9.6 -27.3 -32.0
impairment losses
EBIT 107.7 48.2 -55.2 % -59.5 50.3 14.9
Mail1 103.5 73.2 -29.3 % -30.3 47.9 26.3
Parcel & Logistics1 14.9 18.2 22.1 % 3.3 8.1 9.4
Retail & Bank1 1.7 -28.7 <-100 % -30.4 -0.1 -12.3
Corporate/Consolidation1 -12.3 -14.4 -17.0 % -2.1 -5.6 -8.6
Other financial result 0.8 5.1 >100 % 4.3 -2.6 4.0
Profit before tax 108.5 53.3 -50.8 % -55.1 47.7 18.9
Income tax -29.1 -14.2 51.2 % 14.9 -11.6 -5.9
Profit for the period 79.4 39.1 -50.7 % -40.2 36.0 12.9
Earnings per share (EUR)2 1.17 0.66 -43.9 % -0.52 0.53 0.24
Cash flow from operating 123.6 306.9 >100 % 183.3 51.3 210.2
activities
Investment in property, plant and -70.0 -37.7 46.1 % 32.2 -50.3 -15.8
equipment (CAPEX)
Free cash flow 26.2 416.0 >100 % 389.8 7.2 318.3
Operating free cash flow3 99.6 45.3 -54.5 % -54.3 38.8 -12.8
1 Adjusted to the new segment structure since 1 January 2020
2 Undiluted earnings per share in relation to 67,552,638 shares
3 Free cash flow before acquisitions/securities/money market investments, Growth
CAPEX and core banking assets
EXTCERPTS FROM THE GROUP MANAGEMENT REPORT:
REVENUE DEVELOPMENT IN DETAIL
In the first half-year of 2020, Group revenue of Austrian Post improved slightly
to EUR 981.9m (+0.1 %) compared to the prior-year period. The dynamically
growing parcel business characterised by a 30.0 % revenue increase managed to
offset the declines in the Mail Division and Retail & Bank Division.
The Mail Division accounted for 59.8 % of the Group revenue. In the Mail
Division, the expected shortfalls resulted in a revenue decrease of 10.5 %. This
is, on the one hand, due to a significant decline in conventional Letter Mail
volumes triggered by the closure of many governmental offices and businesses. On
the other hand, Direct Mail revenue was also significantly impaired by the
government-imposed store closings in response to COVID-19.
The Parcel & Logistics Division generated 37.3 % of the total Group revenue in
the reporting period against the backdrop of an ongoing upward trend. The 30.0 %
revenue increase was driven primarily by the organic volume growth from e-
commerce in Austria as well as through the cooperation with Deutsche Post DHL
Group since August 2019.
The Retail & Bank Division accounted for 2.9 % of total Group revenue in the
first half-year. The 34.6 % revenue decrease in the newly created Retail & Bank
Division in the first half of 2020 is due to the inaugural launch of bank99 on 1
April 2020, whereas the first half of the previous year still included service
fees of EUR 18.8m from the former banking partner.
Revenue of the Mail Division totalled EUR 590.6m, of which 64.6 % can be
attributed to the Letter Mail & Mail Solutions business. Direct Mail accounted
for 25.9 % of the total divisional revenue, and Media Post had a 9.6 % share. In
the first half of 2020, Letter Mail & Mail Solutions revenue amounted to EUR
381.3m, down by 6.7 % from the prior-year period. The declining volume trend
resulting from the substitution of letters by electronic forms of communication
continued. Especially in the second quarter of 2020, the lockdown measures and
the economic restrictions at authorities and companies reduced the revenue.
Traditional mail volumes in Austria showed a drop of about 9 % in the first half
of 2020. The Mail Solutions business area reported slight revenue growth from
the previous year, particularly in the areas of document logistics, output
management and digital services. Direct Mail revenue fell by 18.0 % to EUR
152.8m in the first half of 2020. The Direct Mail business was primarily
affected by the COVID-19 pandemic and the resulting government-imposed store
closings. Revenue from Media Post, i.e. the delivery of newspapers and magazines
fell by 13.2 % year-on-year to EUR 56.5m. This decrease can also be attributed
to the COVID-19 pandemic.
Revenue of the Parcel & Logistics Division improved by 30.0 % in the first half
of 2020 to EUR 367.9m from EUR 283.0m in the previous year. High growth in the
parcel business is, on the one hand, based on the ongoing e-commerce trend in
Austria. Despite the own delivery by a major customer in the eastern part of
Austria, Austrian Post also succeeded in participating in market growth during
this reporting period. Intense competition and high price pressure continue to
prevail. The Parcel business gained from a strong momentum in e-commerce, where
volumes in Austria increased by 28 % in the first quarter and more than 40 % in
the second quarter of 2020. On the other hand, the cooperation with Deutsche
Post DHL Group in Austria since August 2019 has also made a significant
contribution to current growth. The development towards faster delivery of
parcels can be observed as a clear trend. In total, 57.6 % of the division's
revenue in the first six months of 2020 was generated by the Premium Parcels
business (delivery on the first working day after posting). This corresponds to
an increase of 44.5 % to EUR 212.1m in the first half-year 2020. The Standard
Parcels business area accounted for 33.2 % of divisional revenue and showed a
revenue increase of 13.6 % to EUR 122.1m in the first half of 2020. Other Parcel
Services, which includes various additional logistics services, generated 9.2 %
of divisional revenue totalling EUR 33.7m in the first six months of 2020. This
corresponds to a rise of 16.9 %. An analysis by region shows that in the first
six months of 2020, 82.0 % of the revenue in the Parcel & Logistics Division was
generated in Austria, with a revenue growth of 33.1 % in year-on-year
comparison. 18.0 % of divisional revenue can be attributed to subsidiaries in
South East and Eastern Europe. The revenue increase in this highly competitive
region amounted to 17.4 % in the first half of 2020, driven by increasing parcel
quantities related to the COVID-19 pandemic.
Revenue of the Retail & Bank Division reached a level of EUR 28.6m in the first
half of 2020, down from EUR 43.8m in the prior-year period. Branch services in
the previous year included service fees from the former banking partner
totalling EUR 18.8m. Branch Services revenue (retail goods and branch products)
amounted to EUR 22.4m in the period under review. First half-year 2020 income
from financial services of EUR 6.2m included also cash payments for third
parties (e.g. pensions). bank99 had its inaugural launch on 1 April 2020 and has
over 42,000 customers by now.
EARNINGS DEVELOPMENT
The largest expense items in relation to Austrian Post's Group revenue are staff
costs (50.4 %), raw materials, consumables and services used (25.2 %) and other
operating expenses (15.9 %). 6.5 % can be attributed to depreciation,
amortisation and impairment losses.
Staff costs in the first half of 2020 totalled EUR 494.7m, implying a decline of
2.5 % or EUR 12.6m. This improvement is attributable to operating staff costs.
The Austrian Post Group employed an average of 20,443 people (full-time
equivalents) in the first six months of 2020 compared to the average of 20,166
employees in the prior-year period (+1.4 %). In addition to operational staff
costs, staff costs of Austrian Post also include various non-operating staff-
related expenses such as severance payments and changes in provisions, which are
primarily related to the specific employment situation of civil servant
employees at Austrian Post. Non-operational staff costs did not include any
significant changes compared to the prior-year period.
Raw materials, consumables and services used rose 13.1 % to EUR 247.5m, which is
mainly related to higher transport expenses as a result of increased parcel
volumes.
Other operating expenses rose by 16.1 % to EUR 156.3m, which is mainly related
to higher costs for leased staff to handle higher parcel volumes as well as
initial costs to set up the infrastructure of the new bank99. Other operating
income amounted to EUR 28.4m in the first half of 2020, compared to EUR 42.2m in
the prior-year period. This change is primarily attributable to income from
apartment sales from the Neutorgasse real estate project in the previous year.
EBITDA at EUR 112.3m was EUR 49.9m below the comparable prior-year period due to
negative effects relating to the COVID-19 pandemic. The EBITDA margin was 11.4
%. Depreciation, amortisation and impairment losses equalled EUR 64.0m,
increasing by EUR 9.6m from the previous year. The increase is mainly due to the
new logistics sites for the parcel logistics infrastructure. Group-EBIT fell
from EUR 107.7m to EUR 48.2m in the first half of 2020. The EBIT margin amounted
to 4.9 %. EBIT of the logistics business (excl. Retail & Bank Division) equalled
EUR 76.9m, with an EBIT margin of 8.1 %. In the first half of 2020, negative
effects arising from COVID-19 totalled about EUR 45m, of which about EUR 20m are
due to extraordinary health and logistics costs and about EUR 25m due to the
earnings effect as a result of the decline in revenue.
The Group's other financial result of EUR 5.1m was EUR 4.3m above the prior-year
period. This development is primarily the consequence of the sale of the stake
in flatex AG in the current reporting period. After deducting the income tax of
EUR 14.2m, the profit for the period equalled EUR 39.1m (-50.7 %). This
corresponds to undiluted earnings per share of EUR 0.66, compared to EUR 1.17 in
the first half of 2019.
From a divisional perspective, the Mail Division achieved an EBIT of EUR 73.2m
in the first six months of 2020. The year-on-year decline of 29.3 % can be
attributed to a decline in Letter Mail and Direct Mail volumes, for the most
part due to the lockdown period imposed in response to the COVID-19 pandemic.
Due to the high level of fixed costs in the Mail business, the revenue declines
have a strong impact on earnings in the first half of 2020.
The Parcel & Logistics Division achieved revenue growth against the backdrop of
intense competition and margin pressure, generating an EBIT of EUR 18.2m in the
first half of 2020. This implies an increase of 22.1 % from the previous year.
The increase in revenue also resulted in high logistics and COVID-19 costs.
Moreover, integration costs for network optimisation were necessary.
The Retail & Bank Division showed an EBIT of minus EUR 28.7m in the first half
of 2020, compared to plus EUR 1.7m in the prior-year period. The decline is due
to decreased revenues of 34.6 %. While bank99 was launched on the market in
April of this year, the first half of 2019 still included EUR 18.8m in service
fees from the former banking partner. In addition, the result was affected by
COVID-19 as well as start-up costs of bank99.
EBIT of the Corporate Division (incl. Consolidation) changed from minus EUR
12.3m to minus EUR 14.4m. The Corporate Division provides non-operating services
which are essential for the purpose of the administration and financial control
of a Corporate Group. In addition to the classic corporate governance tasks,
these services include the management and development of commercial properties
not required for company operations, the management of key financial
investments, the rendering of IT services, the development of new business
models and the administration of the Internal Labour Market of Austrian Post.
CASH FLOW AND BALANCE SHEET
The gross cash flow in the first half of 2020 equalled EUR 117.2m, compared to
the level of EUR 163.5m in the first half of 2019. The decline was related to
lower earnings before tax. The cash flow from operating activities amounted to
EUR 306.9m, up from EUR 123.6m in the prior-year period. In this regard the core
banking assets of bank99 comprised the biggest moving part and had a positive
impact of EUR 230.9m. The core banking assets encompass those items resulting
from the deposit and investment business of bank99 since April 2020 and the
handling of cash payments for third parties (e.g. pensions).
The cash flow from investing activities was EUR 109.1m in the first six months
of 2020, compared to minus EUR 97.4m in the previous year. The change is largely
related to securities and money market investments, encompassing cash inflows of
EUR 120.2m impacting the cash flow in the reporting period (in comparison to
cash outflows of EUR 20.0m in the prior-year period). Furthermore, the first
half of 2020 included cash inflows of EUR 38.0m from the disposal of Austrian
Post's shares in flatex AG. The free cash flow before securities, money market
investments and core banking assets amounted to EUR 64.9m in the first half-year
2020. After deducting the core banking assets of bank99, the operating free cash
flow was EUR 45.3m in the current reporting period compared to EUR 99.6m in the
first half of the previous year. The cash flow from financing activities, which
primarily consisted of the dividend payments, amounted to minus EUR 144.7m in
the first six months of 2020, whereas the prior-year figure was minus EUR
126.2m.
Austrian Post relies on a conservative balance sheet and financing structure.
This is demonstrated in particular by high liquidity and solid investment of
cash and cash equivalents at the lowest possible risk. Austrian Post's total
assets amounted to EUR 2,157.2m as at 30 June 2020. On the asset side, property,
plant and equipment at EUR 1,032.2m represent the largest balance sheet item.
Intangible assets totalled EUR 44.4m, whereas goodwill reported for acquisitions
equalled EUR 60.8m at the end of the first half of 2020. Receivables totalling
EUR 293.6m comprised one of the largest balance sheet items in current assets.
Other financial assets amounted to EUR 109.8m as at 30 June 2020. Financial
assets from financial services at EUR 289.2m were newly reported in the balance
sheet. They largely relate to the deposit and investment business of bank99 as
well as the handling of cash payments for third parties (e.g. pensions). On the
liabilities side of the balance sheet, equity of the Austrian Post Group
equalled EUR 600.6m as at 30 June 2020 and thus represented the largest balance
sheet item on the liabilities side (equity ratio of 27.8 %). Provisions amounted
to EUR 589.6m and trade and other payables liabilities to EUR 429.5m at the end
of June 2020. Financial liabilities from financial services of EUR 241.2m are
now reported separately on the liabilities side of the balance sheet. They
mainly comprise the deposit and investment business of bank99 as well as the
handling of cash payments for third parties (e.g. pensions).
OUTLOOK 2019
The COVID-19 pandemic has significantly disrupted the business environment for
many companies around the world. This also applies to postal and parcel service
providers. The development of the first two quarters of 2020 shows that the
economic impact is evident both in terms of revenue and earnings. Based on
current economic forecasts, it can be assumed that there will not be a quick
rebound but instead a slow and continuous recovery of important customer
segments of Austrian Post.
Revenue 2020 largely stable
Against the backdrop of current trends, and assuming an ongoing recovery of the
economic situation, it is expected that revenue in 2020 will remain largely
stable. After the full consolidation of the Turkish company Aras Kargo revenue
growth is expected for the year as a whole.
In the Mail Division an upper single digit decline in revenue is expected during
the course of the year. The basis for previous forecasts was a revenue decline
in the range of about 5 % p.a. as a consequence of the electronic substitution
of Letter Mail. After a double-digit decrease took place in the second quarter
of 2020 due to the COVID-19 lockdown, an upper single digit range during the
second half of the year as a consequence of the weaker economic development can
be expected. Moreover, due to the economic situation of many companies, the
Direct Mail business (decrease of about 25 % in the second quarter) could be
affected also in future quarters by reduced advertising activities.
Revenue growth of about 20 % should be possible in the Parcel & Logistics
Division for the year 2020. Volumes are currently developing above initial
assumptions as the positive trend form increased e-commerce is ongoing.
Furthermore, the full consolidation of the Turkish company Aras Karo will
contribute to growth in 2020. Aras Kargo generated revenue of TRY 1,370m (about
EUR 215m) in the year 2019.
The new Retail & Bank Division will generate a lower revenue contribution in
2020 than in the previous year. 2019 still included service fees from the former
banking partner amounting to EUR 29.3m. The financial service business of the
new bank99, which has been in operation since April 2020, will not yet be able
to achieve revenue of this magnitude.
Group Earnings 2020 Below Prior-Year Level
A 2020 forecast of revenue and earnings for Austrian Post is uncertain as the
economic situation in many customer sectors is difficult to assess. The further
development of the COVID-19 pandemic, the resulting government measures as well
as the manner and extent to which the economy rebounds will all have a direct
impact on the company's further business development in 2020.
In terms of earnings, a forecast for 2020 assumes that EBIT of the logistics
business (excl. Retail & Bank Division) can reach at least EUR 160m (benchmark
EBIT H1 2020: EUR 76.9m). The Group earnings (benchmark EBIT 2019: EUR 201m)
reported in the year 2020 will be impacted by two additional effects, namely the
positive revenue effect from the full consolidation of the Turkish company Aras
Kargo and, in turn, the negative effect related to the start-up costs of bank99.
The necessary long-term investments and start-up costs should steadily decline
in the coming quarterly periods.
In the medium-term, the solid balance sheet of Austrian Post featuring high
liquidity will strengthen the resilience of the business model. Austrian Post
will continue to pursue investments and measurements that lead to an extension
of capacities and to sustainable efficiency enhancement. Similar to the past two
years, more than EUR 50m in growth investments are planned once again in order
to be able to continue to guarantee the best quality network in Austria. This
will complement the usual maintenance investments (maintenance CAPEX) of about
EUR 70m. Moreover, there is the possibility of expanding or newly acquiring
commercial properties for the logistics infrastructure. The challenge is to
further expand Austrian Post's outstanding market position with respect to
quality and quantity against the backdrop of rising parcel volumes. Targeted
investments and measures should contribute to improving earnings in all
divisions and thus in the Group results for 2021.
Austrian Post is committed to maintaining its positioning as a dividend stock.
The Annual General Meeting of Austrian Post held on 17 June 2020 resolved to
distribute a stable dividend of EUR 2.08 per share. The dividend was disbursed
on 30 June 2020 (dividend payment day 1 July 2020). Austrian Post continues to
pursue the goal of distributing at least 75 % of the Group net profit to its
shareholders.
end of announcement euro adhoc
issuer: Österreichische Post AG
Rochusplatz 1
A-1030 Wien
phone: +43 (0)57767-0
FAX:
mail: investor@post.at
WWW: www.post.at
ISIN: AT0000APOST4
indexes: ATX
stockmarkets: Wien
language: English
Digital press kit: http://www.ots.at/pressemappe/2209/aom
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Österreichische Post AG: Zwei neue Post Partner für Weitra, (v.l.n.r.): Patrick Layr, Bürgermeister Weitra, DI Peter Umundum, Vorstand Paket & Logistik der Österreichischen Post, Dr. Stephan Pernkopf, Landeshauptfrau-Stellvertreter, Thomas und Kerstin Weißenböck, WaLaLa; Credit: Österreichische Post
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