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09.08.2007 – 08:06

Österreichische Post AG

euro adhoc: Österreichische Post AG
quarterly or semiannual financial statement
Austrian Post: Growth in H1 2007

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
6-month report
- Group revenues up 29.6% compared to 2006, following integration of 
trans-o-flex - Successful acquisitions in the first half of 2007: - 
Scanpoint Europe (Germany/digitalisation and administration of 
documents) - meiller direct (Germany/direct mail and production) - 
Road Parcel and Merland Expressz (Hungary/parcels services) - 
Scherübl (Austria/temperature-controlled special logistics) - 
Purchase of a 5% shareholding in the consortium acquiring Austrian 
Post´s banking partner BAWAG P.S.K. - Earnings before interest and 
tax (EBIT) climb 28.2%, to EUR 85.0m. - Cash flow at a high level - 
Final negotiations to acquire further special logistics companies 
near to conclusion
Austrian Post performed very positively in the first half of 2007. 
Austrian Post increased its total revenues by 29.6%, to EUR 1,116.8m.
This rise can be primarily attributed to the initial consolidation of
trans-o-flex (Parcel & Logistics Division), acquired at the end of 
2006, which contributed additional revenues of about EUR 240m, as 
well as organic growth. Revenues from the Mail Division were up 2.0%,
and the Parcels & Logistics Division improved by 220.7%. In contrast,
the Branch Network Division posted a decline in revenues of 3.1%. 
Austrian Post´s performance in Q2 2007 basically followed the same 
pattern. Total revenues in Q2 2007 climbed by 29.8%, to EUR 541.3m. 
Revenues in the Mail Division increased by 2.2% compared to Q2 2006, 
the Parcel & Logistics Division improved by 219.0%, whereas Branch 
Network Division revenues fell by 5.2% in Q2 2007.
Revenue by
EUR m                    H1       H1   Change      Q2     Q2
                       2006     2007             2006    2007
Total revenue         861.4  1,116.8   +29.6%   417.1   541.3
Mail                  650.5    663.3    +2.0%   314.7   321.6
Parcel&Logistics      111.4    357.2  +220.7%    54.6   174.2
Branch Network         96.8     93.8    -3.1%    46.5    44.1
Other/Consolidation     2.7      2.5    -4.8%     1.3     1.3
Earnings before interest and tax (EBIT) up 28.2%
EUR m               H1      H1     Change        Q2      Q2
                  2006     2007                2006    2007
Revenue          861.4   1,116.8    +29.6%    417.1    541.3
EBITDA           117.9     130.2    +10.5%     48.5     52.8
EBIT              66.3      85.0    +28.2%     17.3     29.9
Profit for
the period        51.6      67.9    +31.5%     14.6     25.1
Earnings per
share (EUR)        0.74     0.97    +31.5%      0.21    0.36
In the first half of 2007, the EBIT (earnings before interest and tax) of
Austrian Post increased by 28.2%, to EUR 85.0m, in comparison to the preceding
year. Accordingly, the EBIT margin amounted to 7.6%. In Q2 2007, Austrian Post
achieved an EBIT of EUR 29.9m, up from EUR 17.3m in Q2 2006.
All operating divisions made a positive contribution to earnings. EBIT at the
Mail Division was
EUR 133.4m, at the Parcel & Logistics Division EUR 14.9m, and at the Branch
Network Division EUR 5.8m.
Earnings before tax rose 31.5% to EUR 67.9m in the first six months of 2007.
Accordingly, earnings per share amounted to EUR 0.97 in the first half of 2007
(Q2 2007: EUR 0.36).
Solid balance sheet structure - equity ratio of 43%
The balance sheet structure of Austrian Post reflects the positive business
development of the company in recent years. Accordingly, the equity ratio
amounted to 42.7% at June 30, 2007. In addition, the financial strength of
Austrian Post is extremely stable, with cash and cash equivalents totalling
EUR 390,5m, despite acquisitions carried out in recent months.
Cash flow In the first half of 2007, operating cash flow before 
changes in working capital fell by 3.1%, to EUR 136.9m, compared to 
the same period of the previous year. Including the changes in 
working capital, the cash flow from operating activities amounted to 
EUR 135.4m in the first half of 2007, up from EUR 82.6m in the 
comparable period of 2006.
To a large extent, this positive development enabled Austrian Post to
finance, from its cash flow, both the recent acquisitions as well as 
the dividend payment for the 2006 financial year amounting to EUR 
Austrian Post made investments totalling EUR 112.1m during the period
under review, including the purchase of property, plant and equipment
amounting to EUR 42.0m, the acquisitions carried out in the first 
half year (Weber Escal, Scanpoint, Scherübl, Road Parcel, Merland 
Expressz) as well as the purchase of a 5% stake in the consortium 
acquiring BAWAG P.S.K.
Outlook for 2007 Austrian Post continues to expect a stable mail 
market for the year 2007. Furthermore, Austrian Post is subject to 
increasing competition. As already mentioned, a German parcel 
services company commenced operations on the Austrian market, 
effective July 1, 2007. The owner of the new competitor, operating in
the mail order business, was formerly a major Austrian Post customer,
accounting for about 8m parcels annually in Austria (total number of 
parcels delivered by Austrian Post in 2006: about 47m). This is the 
primary reason for assuming a corresponding decline in Austrian 
Post´s revenues in the country´s parcels market.
All in all, Austrian Post continues to anticipate that organic 
revenue will remain constant in the 2007 business year. Additional 
growth will be driven by the initial consolidation of new 
subsidiaries. Austrian Post maintains its original forecast that 
earnings before interest and tax (EBIT) will be 20%-25% higher in 
2007 in comparison to 2006. The basis for this expected increase is 
the contribution to earnings on the part of the new subsidiaries, as 
well as a further improvement in operating income.
Events after the end of the interim reporting period On May 10, 2007,
Austrian Post signed an agreement to acquire a 100% shareholding in 
the German direct marketing service provider meiller direct. The 
services provided by meiller direct encompass the conception and 
production of documents and direct mailings at two production 
facilities located in Germany and the Czech Republic. With its 
approximately 1,100 employees, meiller direct achieved revenues of 
EUR 112m in the 2006 business year. Final negotiations to acquire 
further special logistics companies are near to conclusion.
Vienna, August 9, 2007
end of announcement                               euro adhoc 09.08.2007 07:25:05


Austrian Post
Harald Hagenauer
Head of Investor Relations & Public Relations
Tel.: +43 (0) 57767-30400

Austrian Post
Michael Homola
Head of Public Relations
Tel.: +43 (0) 57767-32010

Branche: Transport
Index: ATX
Börsen: Wiener Börse AG / stock market

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