Osterreichische Post Ag · VIE:POST
Osterreichische Post — Austrian Post — H1 2014 Earnings Presentation
24 slides from Osterreichische Post's earnings presentation, Aug 14, 2014
Slide 1: Austrian Post H1 2014 Investor Presentation
AUSTRIAN POST H1 2014 INVESTOR PRESENTATION Georg Pölzl/CEO, Walter Oblin/CFO Vienna, August 14, 2014
Slide 2: Highlights and Overview; Group Results H1 2014; Outlook 2014
1. Highlights and Overview 2. Group Results H1 2014 3. Outlook 2014 INVESTOR PRESENTATION H1 2014 I Investor Relations I Vienna, August 14, 2014 2
Slide 3: Highlights H1 2014
HIGHLIGHTS H1 2014 Stable development of Group revenue (H1-0.1%, Q2 +0.6%) Slight drop in mail revenue – ongoing trend towards 1 Revenue e-substitution and declining direct mail volumes Solid growth in the parcel business continues Strict efficiency enhancement and cost optimisation 2 Earnin
Slide 4: Stable Group Revenue in H1 2014
STABLE GROUP REVENUE IN H1 2014 Revenue development1 EUR m Group revenue H1: -0.1% Slight decline of 0.1% in H1; Q2: +0.6% revenue increase of 0.6% in Q2 2014 1,173.1 1,171.9 Mail & Branch Network Revenue decrease of 1.8% in H1 and 0.4% in Q2: positive revenue 754.6 741.2 -1.8% effects from EU elect
Slide 5: Improved EBIT Level
IMPROVED EBIT LEVEL EBIT development EUR m H1: +0.4% Group EBIT: Q2: +5.1% Rise of 0.4% to EUR 98.8m in 98.4 98.8 H1 2014 and 5.1% in Q2 2014 -2.0 +1.6 +2.3 Mail & Branch Network Q2 Q2 Lower revenue leads to slight EBIT 38.6 40.6 decline EBIT development by division in Q2 Parcel & Logistics Earnings
Slide 6: Clear Strategic Priorities in 2014
CLEAR STRATEGIC PRIORITIES IN 2014 1 DEFENDING MARKET 2 PROFITABLE GROWTH IN LEADERSHIP IN THE CORE SELECTED MARKETS BUSINESS Performance enhancement Further consolidation of the and exploitation of market strong market position potential 3 ENHANCING EFFICIENCY 4 CUSTOMER ORIENTATION AND FLEXIBILISA
Slide 7: 1. Core Business: Trends and Developments
1. CORE BUSINESS: TRENDS AND DEVELOPMENTS Trends Measures and Initiatives Letter Mail Positive revenue effects from Austrian Post promotes absentee voting + elections EU voting by absentee ballot: 15% of casted votes - E-substitution of traditional letter mail continues +43% more absentee
Slide 8: 2. Future Markets: Trends and Developments
2. FUTURE MARKETS: TRENDS AND DEVELOPMENTS Trends Measures and Initiatives Germany Continuation of structural measures at trans-o-flex Growth opportunities in the + Further integration of distribution companies pharmaceutical market Already in direct charge of 40% of transport operations -
Slide 9: 3. Efficiency Enhancement and Optimisation of the Cost Structure
EFFICIENCY ENHANCEMENT AND 3. OPTIMISATION OF THE COST STRUCTURE CAPEX investments of about Staff structure optimisation: 22% of employees EUR 90-100m in 2014 under the new collective wage agreement Full-time equivalents (FTE) in the core business in Austria New logistics centre in Allhaming, -688 F
Slide 10: 4. Customer Orientation and Innovation
4. CUSTOMER ORIENTATION AND INNOVATION Ongoing roll-out of new 24/7 solutions The “yellow slip” goes mobile! Since June 2014 Shipment Tracking Branch Locator Mobile Yellow Slip Rate Calculator Available for Apple and Android App downloads accumulated per week 43,306 44,967 40,174 40,000 36
Slide 11: Highlights and Overview; Group Results H1 2014; Outlook 2014
1. Highlights and Overview 2. Group Results H1 2014 3. Outlook 2014 INVESTOR PRESENTATION H1 2014 I Investor Relations I Vienna, August 14, 2014 11
Slide 12: Financial Indicators H1 2014 at a Glance
FINANCIAL INDICATORS H1 2014 AT A GLANCE H1 2013 H1 2014 Stable revenue development (-0.1%) compared to 1 Revenue (EUR m) 1,173.1 1,171.9 the strong prior-year period EBITDA margin of 12.4% reflects high level of cost 2 EBITDA margin 11.9% 12.4% discipline 3 EBIT margin 8.4% 8.4% Stable high profita
Slide 13: Key Income Statement Indicators
KEY INCOME STATEMENT INDICATORS Change EUR m H1 2013 H1 2014 % abs. Q2 2013 Q2 2014 Revenue 1,173.1 1,171.9 -0.1% -1.2 570.2 573.5 Slight revenue Total operating income 1,207.1 1,204.4 -0.2% -2.8 587.0 589.4 decrease of 0.1%, +0.6% in Q2 Raw materials and services used -372.4 -362.8 -2.6% -9.6 -185.
Slide 14: Mail & Branch Network Division: Revenue Trends H1 2014
MAIL & BRANCH NETWORK DIVISION: REVENUE TRENDS H1 2014 Letter Mail and Mail Solutions (EUR m) Direct Mail and Media Post (EUR m) Positive revenue effects due to EU and Austrian Pressure of online business on retail stores and Chamber of Labour elections traditional mail order companies Growth
Slide 15: Mail & Branch Network Division: Key Income Statement Indicators
MAIL & BRANCH NETWORK DIVISION: KEY INCOME STATEMENT INDICATORS Change EUR m H1 2013 H1 2014 % abs. Q2 2013 Q2 2014 Revenue (external sales) 754.6 741.2 -1.8% -13.5 363.7 362.3 Revenue drop of Letter Mail & Mail 1.8% in H1, 397.4 397.7 0.1% 0.3 187.9 190.7 +1.5% in Q2 Solutions Direct Mail 219.7
Slide 16: Parcel & Logistics Division: Revenue Trends H1 2014
PARCEL & LOGISTICS DIVISION: REVENUE TRENDS H1 2014 Revenue (EUR m) Regional mix in % H1: +3.0% South East and Eastern Europe: +8.5% 431.5 419.0 Strong revenue growth and further 8% productivity increases CEE 8% Austria: +4.6% Austria 34% 35% Growth impetus due to online shopping and new logisti
Slide 17: Parcel & Logistics Division: Key Income Statement Indicators
PARCEL & LOGISTICS DIVISION: KEY INCOME STATEMENT INDICATORS Change EUR m H1 2013 H1 2014 % abs. Q2 2013 Q2 2014 Revenue (external sales) 419.0 431.5 3.0% 12.5 206.9 211.5 Revenue increase of Premium Parcels 314.3 323.4 2.9% 9.1 155.4 158.4 3.0% in H1 and 2.3% in Q2 Standard Parcels 89.6 90.6 1.
Slide 18: Solid Balance Sheet Structure
SOLID BALANCE SHEET STRUCTURE Balance sheet as of June 30, 2014 (EUR m) Liquid financial resources of EUR 241m Financial liabilities of only EUR 20m 1,558.7 1,558.7 Financial liabilities 19.9 Cash and cash equivalents/ Securities 241.3 Liabilities/ Other2 360.8 Financial investments1 95.5 Provisions
Slide 19: Current Real Estate Projects
CURRENT REAL ESTATE PROJECTS Development of the property portfolio in line with the principles of efficiency and value enhancement Former corporate headquarters: Postgasse 1010 New corporate headquarters: Rochusmarkt 1030 Commercial realisation process launched in July Existing building with 10,
Slide 20: Robust Cashflow
ROBUST CASHFLOW Cash flow development (EUR m) Cash flow from operating activities below the prior-year level – includes higher tax payments as H1 2014 well as payments connected to wage-related contributions from previous periods 133.5 Free cash flow above the previous year due to lower CAPEX in
Slide 21: Highlights and Overview; Group Results H1 2014; Outlook 2014
1. Highlights and Overview 2. Group Results H1 2014 3. Outlook 2014 INVESTOR PRESENTATION H1 2014 I Investor Relations I Vienna, August 14, 2014 21
Slide 22: Outlook Confirmed for 2014
OUTLOOK CONFIRMED FOR 2014 Decline in letter mail volumes from e-substitution partly offset by product innovations Market Advertising market negatively affected by pressure of online business on environment traditional mail order companies and retail stores Growth in private parcel customers o
Slide 23: Contact
CONTACT Austrian Post Financial calendar 2014 Investor Relations Nov. 12, 2014 Interim report Q1-3 2014 Haidingergasse 1, 1030 Vienna Mar. 12, 2015 Annual results 2014 Website: www.post.at/ir April 15, 2015 Annual General Meeting 2015 E-mail: investor@post.at April 29, 2015 Ex-dividend day/dividend
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