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EANS-News AUSTRIAN POST H1 2019: VERY GOOD FIRST HALF-YEAR 2019: ROBUST MAIL BUSINESS WITH CONTINUED STRONG PARCEL GROWTH

Nachrichtenagentur: news aktuell
09.08.2019, 09:35  |  496   |   |   
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Quarterly Report

Vienna, 9 August 2019 -

Revenue

* Revenue increase of 2.7 % to EUR 981.1m
* Good parcel growth (+7.8 %) and increase in the Mail & Branch Network Division
(+1.3 %)

Earnings

* EBIT up by 2.5 % to EUR 107.7m, EBIT margin of 11.0 %
* Earnings per share of EUR 1.17 (+4.6 %)

Cash flow and balance sheet

* Operating free cash flow of EUR 99.6m
* Balance sheet total increase to EUR 1,896.9m due to capitalisation of right-
of-use assets (leases) pursuant to IFRS 16

Outlook 2019

* Slight increase in revenue forecasted for 2019
* Target of stable operating earnings (EBIT)

Austrian Post can look back at a very good first half-year 2019. Driven by a
robust mail business and strong growth in the parcel segment, Austrian Post's
Group revenue increased to EUR 981.1m, implying an increase of 2.7 %. Both the
Mail & Branch Network Division (+1.3 %) and the Parcel & Logistics Division
(+7.8 %) showed a positive development in the reporting period.

The mail business is impacted by the ongoing substitution of traditional letter
mail by electronic forms of communication as well as by a structural decrease in
the Direct Mail business. The uncertainty related to the General Data Protection
Regulation is perceivable in this segment. The financial service business
continues to decline as a result of the termination of the cooperation with
BAWAG P.S.K. The Mail & Branch Network Division contributed slightly above 70 %
to the total Group revenue of Austrian Post in the first half of 2019. The new
product and postage rate model, additional revenue from the elections and one-
off mailings have positively impacted the revenue of the Mail & Branch Network
Division, in contrast to the fundamental drop in addressed letter mail volumes
and lower Direct Mail revenue.

Austrian Post has benefited from the dynamic market growth in the parcel
business attributable to the ongoing online shopping trend, resulting in steady
growth of parcel volumes. The related competitive intensity and price pressure
remain high. The Parcel & Logistics Division generated close to 30 % of Group
revenue in the reporting period and continued to show an upward trend. Revenue
growth of 7.8 % in the parcel business was driven primarily by the trend towards
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