Austrian Post is considering further acquisitions in selected European countries following itstakeover of German express operator trans-o-flex, CFO Rudolf Jettmar told the company’s Investor
Day in Vienna yesterday. This was one of several measures to increase the company’s value.The acquisition of a 74.9% majority holding in trans-o-flex, with annual revenues of some EUR460 million, enlarged Austrian Post’s regional footprint and created a strong regional player inCentral Europe, he told some 60 international analysts. The deal, due for completion by theyear-end, increased the Parcel & Logistics division’s revenues from EUR 222 million to some EUR682 million, representing 31% of group sales. Germany will generate about 68% of the division’srevenues, with 23% from Austria.
“Austrian Post will leverage the potential of selected CEE countries, and considers furthercooperations and acquisitions in target regions,” Jettmar stated. In addition, the trans-o-flexpartner network (Eurodis) would be extended to more Western European countries.
Walter Hitziger, board member for production and logistics, said that in Austria, the parcelbusiness had successfully entered the B2B market during 2006 while the B2C business was benefitingfrom rising online mail-order sales. In 2007, Austrian Post planned to enter the “combined freight”markets in Austria and Western Europe based on the trans-o-flex business, and would also offer allstandard B2B product features.
As part of its CEE expansion, the company had bought a 60,000 sqm plot of land in Bratislavafor a new parcel sorting hub in Slovakia, and was looking for a new Croatian hub in Zagreb,Hitziger added.
On Austrian Post’s financial expectations, Jettmar raised the 2006 outlook for EBIT fromgrowth of 10-15% to 15-20%, and reiterated the medium-term goal of an EBIT margin of 7-8%.
