EANS-News

AUSTRIAN POST H1 2019: VERY GOOD FIRST HALF-YEAR 2019: ROBUST MAIL BUSINESS WITH CONTINUED STRONG PARCEL GROWTH - Seite 3

Depreciation,
amortisation and -39.3 -54.5 -38.8 % -15.2 -19.5 -27.3
impairment losses
EBIT 105.1 107.7 2.5 % 2.6 48.4 50.3
Mail & Branch Network 138.7 142.3 2.6 % 3.6 65.1 67.0
Parcel & Logistics 20.4 20.4 0.3 % 0.1 9.5 10.8
Corporate/Consolidation -54.1 -55.1 -1.8 % -1.0 -26.3 -27.4
Other financial result 3.2 0.8 -75.1 % -2.4 1.5 -2.6
Earnings before tax 108.2 108.5 0.2 % 0.3 49.9 47.7
Income tax -32.3 -29.1 9.9 % 3.2 -15.8 -11.6
Profit for the period 75.9 79.4 4.6 % 3.5 34.1 36.0
Earnings per share (EUR)1 1.12 1.17 4.6 % 0.05 0.50 0.53
Cash flow from operating 173.4 123.6 -28.7 % -49.7 -2.6 51.3
activities
Investment in property,
plant and equipment -67.4 -70.0 -3.8 % -2.6 -26.4 -50.3
(CAPEX)
Free cash flow 104.1 26.2 -74.8 % -77.9 -30.1 7.2
Operating free cash flow
(Free cash flow before 47.7/134.1 2 99.6 -25.7 % 2 -34.5 2 -16.9 38.8
acquisitions/ securities
and Growth CAPEX)


1 Undiluted earnings per share in relation to 67,552,638 shares
2 Inclusive of BAWAG P.S.K. special effect of EUR 86.5m (special payment BAWAG
P.S.K. of EUR 107.0m less financial services rendered of EUR 20.5m)

EXCERPTS FROM THE GROUP MANAGEMENT REPORT:

REVENUE DEVELOPMENT IN DETAIL

In the first half of 2019, Group revenue of Austrian Post improved by 2.7 % to
EUR 981.1m. This development was due to the dynamically growing parcel market
resulting in a 7.8 % increase in parcel revenue as well as a 1.3 % increase in
revenue in the Mail & Branch Network Division.

The Mail & Branch Network Division accounted for 71.3 % of Group revenue.
Revenue development in the first half-year reflected the fundamental decline in
addressed letter mail volumes as a result of electronic substitution, lower
Direct Mail revenue and the gradual redimensioning of the financial services
business in 2019. In contrast, the new product structure, growth in the area of
Mail Solutions, additional revenue from elections and one-off mailings helped to
increase revenue. The Parcel & Logistics Division generated 28.7 % of the total
Group revenue in the reporting period against the backdrop of an ongoing upward
trend. The 7.8 % revenue increase was driven primarily by the organic volume
growth in Austria.

The revenue of the Mail & Branch Network Division totalled EUR 703.9m in the
first half of 2019. Of this amount, 58.1 % can be attributed to the Letter Mail
& Mail Solutions business, whereas Direct Mail accounted for 26.5 % of the total
divisional revenue. Media Post had a share of 9.3 %. Branch Services generated
6.2 % of the division's revenue. In the first half of 2019, Letter Mail & Mail
Solutions revenue amounted to EUR 408.8m, implying a 4.6 % year-on-year