Slide 1: Austrian Post H1 2013 Investor Presentation
AUSTRIAN POST H1 2013 INVESTOR PRESENTATION Georg Pölzl/CEO, Walter Oblin/CFO Vienna, August 7, 2013
Slide 2: Highlights and overview; Group results in detail; Outlook 2013
1. Highlights and overview 2. Group results in detail 3. Outlook 2013 INVESTOR PRESENTATION H1 2013 I Investor Relations I Vienna, August 7, 2013 2
Slide 3: Highlights H1 2013
HIGHLIGHTS H1 2013 § Satisfying mail business in Austria with positive revenue effects Market due to elections 1 environment § Robust growth in the Austrian parcel market § Strong competition in the international parcel business § Revenue growth of 1.5% (excl. Benelux) 2 Revenue § Slight growth in t
Slide 4: Stable group revenue in H1 2013
STABLE GROUP REVENUE IN H1 2013 Revenue development EUR m Group revenue: Stable revenue Increase of 1.5% in H1 excl. Benelux +1.5% excl. Benelux (Q2 2013: +1.7%) 1,173.1 1,173.1 Mail & Branch Network: Revenue growth of 1.8% thanks to acquisitions and positive revenue effects 741.6 +1.8% 754.6 in H1
Slide 5: Group EBIT up 3.9%: increase in both operating divisions
GROUP EBIT UP 3.9%: INCREASE IN BOTH OPERATING DIVISIONS Earnings development EUR m Group EBIT: +3.9% Rise of 3.9% to EUR 98.4m in H1 2013 (Q2 2013: +6.2%) +4.9 +0.8 94.7 98.4 -2.0 Mail & Branch Network: Earnings improvement due to cost discipline and positive revenue effects in 2013 Parcel & Logist
Slide 6: Strategic milestones in the first half of 2013
STRATEGIC MILESTONES IN THE FIRST HALF OF 2013 1. DEFENDING MARKET 2. GROWTH IN SELECTED LEADERSHIP IN THE CORE MARKETS BUSINESS Entry into the Turkish Good development of the parcel market domestic mail and parcel Restructuring and focus on business pharma/health care in Germany 3. ENHANCING EFFICI
Slide 7: Expansion of strategic footprint based on equity stake acquired in Turkey
EXPANSION OF STRATEGIC FOOTPRINT BASED ON EQUITY STAKE ACQUIRED IN TURKEY Parcel markets in comparison (Parcel revenue per capita in EUR) 233 227 195 160 139 129 116 92 90 80 73 69 46 28 11 8 NO SE DK FR CH NL DE UK ES IT BE AT CZ PL TR RU Source: AT Kearney Strong growth potential of the Turkish pa
Slide 8: Ongoing growth of the Turkish parcel market
ONGOING GROWTH OF THE TURKISH PARCEL MARKET Turkish parcel market (in EUR m) Market share in 2012 (%) +13% p.a. 1,042 Other PTT 929 6% UPS 3% 820 7% Yurtici 31% Sürat 9% 18% MNG 26% Aras Kargo 2011 2012 2013e Source: KEP Research INVESTOR PRESENTATION H1 2013 I Investor Relations I Vienna, August 7,
Slide 9: Aras Kargo – Facts & Figures
ARAS KARGO – FACTS & FIGURES § Transport volumes in 2012 - 46m parcels, 32m documents - 75% of revenue B2B/B2C (over 5,000 business customers) - Private customer parcel generated 25% growth 2011 and 2012 § High quality provider with outstanding service level Revenue (TRY m) - 2,600 delivery vehicles
Slide 10: Shareholding acquired in Aras Kargo
SHAREHOLDING ACQUIRED IN ARAS KARGO Acquisition of a 25% stake in Aras Kargo - 20% from Is Private Equity and 5% from the founding Aras family 1 - Closing following antitrust approval effective July 30, 2013 - At equity consolidation as of August 2013 2 Purchase price for the 25% stake: TRY 125m (ap
Slide 11: Parcel & Logistics Germany: restructuring and clear focus
PARCEL & LOGISTICS GERMANY: RESTRUCTURING AND CLEAR FOCUS RESTRUCTURING Continuation of restructuring drive - Insourcing of services in the core business (distribution companies in Munich, Bergkirchen and Nuremberg) - Streamlining of corporate structure and optimisation of overhead costs CLEAR FOCUS
Slide 12: Structural change in the core business: flexible and efficient organisation
STRUCTURAL CHANGE IN THE CORE BUSINESS: FLEXIBLE AND EFFICIENT ORGANISATION - Efficiency enhancement programme in mail logistics has positive effects - 3,500 employees already covered by the new collective wage agreement - Continuous improvement of logistics processes requires flexibility of the org
Slide 13: Structural change in the core business: optimisation of the personnel mix
STRUCTURAL CHANGE IN THE CORE BUSINESS: OPTIMISATION OF THE PERSONNEL MIX Full-time equivalents in core business in Austria - Change in the personnel mix (active staff, average for the period) - Already more than 18% of employees covered by the new collective wage 21,700 agreement 20,786 20,010 19,7
Slide 14: Structural change in the branch network: improvement of service and cost structure
STRUCTURAL CHANGE IN THE BRANCH NETWORK: IMPROVEMENT OF SERVICE AND THE COST STRUCTURE approx. 2,000 1,880 1,914 1,850 1,552 Statutory minimum of 1,650 418 1,117 1,258 1,367 approx. Postal 1,500 partners 1,134 733 approx. 622 547 Company- 500 operated branches 12/2009 12/2010 12/2011 06/2013 Target
Slide 15: Highlights and overview; Group results in detail; Outlook 2013
1. Highlights and overview 2. Group results in detail 3. Outlook 2013 INVESTOR PRESENTATION H1 2013 I Investor Relations I Vienna, August 7, 2013 15
Slide 16: Overview of financial indicators in H1 2013
OVERVIEW OF FINANCIAL INDICATORS IN H1 2013 H1 20121 H1 2013 1 Revenue 1,173.1 1,173.1 Stable revenue in a half-year comparison, revenue up 1.5% excl. Benelux 2 EBITDA margin 11.5% 11.9% Positive revenue effects and cost discipline 3 EBIT margin 8.1% 8.4% Further increase in profitability 4 Earnings
Slide 17: Key income statement indicators
KEY INCOME STATEMENT INDICATORS Change EUR m H1 20121 H1 2013 Q2 20121 Q2 2013 % absolute Revenue 1,173.1 1,173.1 0.0% 0.0 567.4 570.2 Revenue excl. Benelux 1,155.9 1,173.1 1.5% 17.3 560.9 570.2 Revenue increase of 1.5% Raw materials and services used -379.5 -372.4 -1.9% -7.1 -188.6 -185.2 Staff cos
Slide 18: Mail & Branch Network Division: revenue trends in H1 2013
MAIL & BRANCH NETWORK DIVISION: REVENUE TRENDS IN H1 2013 Letter Mail & Mail Solutions Direct Mail & Media Post Positive revenue effects of about EUR 15m: Positive revenue effects of about EUR 12m: - Consolidation of new CEE subsidiaries - Consolidation of new CEE subsidiaries - Provincial elections
Slide 19: Mail & Branch Network Division: key income statement indicators
MAIL & BRANCH NETWORK DIVISION: KEY INCOME STATEMENT INDICATORS Change EUR m H1 20121 H1 2013 Q2 20121 Q2 2013 % absolute Revenue (external sales) 741.6 754.6 1.8% 13.0 356.6 363.7 Revenue increase of 1.8% due to § Letter Mail & Mail Solutions 390.3 397.4 1.8% 7.1 185.1 187.9 acquisitions and § Dire
Slide 20: Parcel & Logistics Division: revenue trends in H1 2013
PARCEL & LOGISTICS DIVISION: REVENUE TRENDS IN H1 2013 Germany1 H1 -3.6% 3.4% 2.9% Germany: Revenue decline caused by strong competition and focus on -1.3% -3.0% -4.2% -2.9% profitability Austria H1 +10.5% 12.2% 11.3% 11.4% Austria: 10.6% 10.4% 9.6% Impetus to growth from online shopping and higher
Slide 21: Parcel & Logistics Division: key income statement indicators
PARCEL & LOGISTICS DIVISION: KEY INCOME STATEMENT INDICATORS Change EUR m H1 20121 H1 2013 Q2 20121 Q2 2013 % absolute External sales 430.8 419.0 -2.8% -11.9 210.1 206.9 External sales excl. 413.6 419.0 1.3% 5.4 203.6 206.9 Revenue up 1.3% Benelux § Premium Parcel 329.5 314.3 -4.6% -15.2 160.1 155.4
Slide 22: Balance sheet structure with high level of cash and cash equivalents
BALANCE SHEET STRUCTURE WITH HIGH LEVEL OF CASH AND CASH EQUIVALENTS Liquid financial resources of EUR 271m, dividend payment of EUR 122m on May 2, 2013 Financial liabilities of only EUR 22m 1,612 1,612 Cash and cash Financial liabilities 22 equiv./securities 271 Liabilities/Other Financial investme
Slide 23: Solid cash flow
SOLID CASH FLOW EUR m Reduction in current provisions by EUR 34.6m 148.5 154.5 Project start for the new logistics centre in Upper Austria (CAPEX of EUR 10.8m) 107.3 -47.2 +1.5 58.8 -49.9 H1 20121 H1 2013 Changes in Cash flow CAPEX Other H1 2013 Cash flow net working from operating Free cash flow be
Slide 24: New logistics centre in Upper Austria
NEW LOGISTICS CENTRE IN UPPER AUSTRIA Expansion of capacity and higher automation level Facts & Figures: Intended start of operation: - Location Allhaming with ideal transport connection September 2014 - 82,000 m2 plot area a - Capacity per day: 1.6m mail items 1 Investment: approx. EUR 50m 100,000
Slide 25: Highlights and overview; Group results in detail; Outlook 2013
1. Highlights and overview 2. Group results in detail 3. Outlook 2013 INVESTOR PRESENTATION H1 2013 I Investor Relations I Vienna, August 7, 2013 25
Slide 26: Outlook 2013 confirmed
OUTLOOK 2013 CONFIRMED § Ongoing electronic substitution of addressed letter mail, dampened development of advertising mail influenced by weak economy, impetus Market from elections in 2013 environment § Growth in the private parcel customer segment, ongoing intensive competition continues for busin
Slide 27: Contact
CONTACT Austrian Post Financial calendar 2013 Investor Relations Aug. 7, 2013 Half-year financial report 2013 Haidingergasse 1, 1030 Vienna Nov. 14, 2013 Interim report Q1-3 2013 Website: www.post.at/ir E-mail: investor@post.at Phone: +43 57767-30401 Fax: +43 57767-30409 Disclaimer This presentation
Slide 28: WWwW.pestat
WWwW.pestat