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2001

Results of the first three quarters 2001

Pressemeldung from 06.11.2001

Reorganisation proves to be a success

During the first nine months in 2001, Österreichische Post AG's turnover amounted to ATS 15.18 billions (EUR 1.1 billion), i.e. nearly equivalent to that of the same period of preceding year (ATS 15.24 billions, EUR 1.11 billion). In the letter post, info-mail, and parcels sectors, new rates fixed in 2001 led to improved results. Cost consciousness in the public sector (standard letters are now sent instead of registered letters), use of existing stocks of ATS stamps before change-over to the EURO, and enhanced competition led to deterioration of market.

Negative effects on turnover are due to reduction of compensation for public services, i.e. forwarding newspapers, but also for counter services rendered to P.S.K. (the postal savings bank). Such decreased revenue, and enhanced depreciation also had an effect on Österreichische Post AG's operational results. Earnings of the first three quarters before interests and taxes (EBIT) show a loss of ATS 98.9 millions (EUR 7.2 millions) or 10% as compared to the same result in 2000.

Cost reduction programme is a success
Cost reduction, process optimisation programmes, and introduction of a new shift system as well as reorganisation now under way had very positive effects. During the period under review, personnel costs have been reduced by some ATS 261 millions (EUR 19 millions). End of August 2001 Österreichische Post AG had 32 380 full time staff members, in August 2000 there were still 34 130.

According to Mr. Rudolf Jettmar, deputy C.E.O. and management board member in charge of finances, "success of reorganisation of distribution and counters sectors is confirmed by the fact that Österreichische Post AG had a turnover corresponding to that of the same period in 2000 notwithstanding a very difficult market. Deterioration of market and enhanced competition show that there is no other way than cutting down expenses in order to remain positive in the long run. We will, therefore, continue to follow our reorganisation and modernisation programmes."

Due to traditional considerable turnover rates during the fourth quarter, and to positive developments in the staff sector, operational results will most probably remain the same in 2001 as in the year before, although turnover may slightly go down.


For further information, please contact

Österreichische Post AG
Business Communication
Press / PR
Mr. Michael Homola
Tel.: +43 (1) 515 51 - 32010
E-Mail: michael.homola@post.at

Vienna,