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Preliminary Figures for the Financial Year 2002

Pressemeldung from 3/12/2003

Growth in the branch office network - drop in sales volume for letters and parcels due to the economic situation
Significant decrease in expenditure on personnel

Österreichische Post AG will close the financial year 2002 with a profit. The figures available so far indicate a profit from ordinary activities amounting to € 18.7 million (2001: € 47.4 million), with earnings before interest and taxes (EBIT) of € 11.1 million (2001: € 23.2 million) and an operating performance of € 1,544.6 million (2001: € 1,576.3 million ).

As compared to last year, Österreichische Post AG‘s turnover was almost the same at € 1,484.2million. In 2001, turnover amounted to €1,505.0 million.
“A cost reduction program launched in time for the entire organization managed to counteract the decline in turnover. Continuing the stringent cost-saving program and launching an offensive in the retail sector are the top priorities for 2002”, said Rudolf Jettmar, member of the board in charge of finances.

With € 710.7 million (2001: € 726.4 million) the Letter division accounts for the largest share in total sales volume. The Info-Mail division achieved sales figures roughly equaling those of 2001 (€ 341.1 million as compared to € 340.6 million in 2001), while the Branch Network division managed to increase sales from € 163.1 million in 2001 to € 175.4 million). The figures for the Courier.Express.Parcel (CEP) division were € 158.0 million (2001: € 164.9 million); while the Media Services division contributed € 89.9 million (2001: € 99.0 million) to the organization’s total sales volume.

It was possible to further reduce expenditure for personnel, which, at € 992.5 million, is below the € 1 billion mark for the first time since the foundation of Österreichische Post AG. In 2001, expenditure for personnel was still at € 1,021.6 million. All in all, the head count was reduced by 1,152 full-time equivalents, which results in an average total of 28,974 full-time equivalents for 2002.

Letter division
The continuing weakness of the economy and the accompanying efforts by customers to cut costs, which have an immediate impact on the volume of letter mail, are the main reasons for the decline in sales in the Letter division. The substitution of classic postal products through electronic alternatives such as e-mail and SMS also had negative effects on the volume of items handled. As far as the international letter business is concerned, results were better than last year.

Info-Mail division
The Info-Mail division, which, just as the Letter division, also suffered from the effects of the negative overall development of the economy, was able to balance these effects by stepping up sales in the Info.Post (non-addressed advertising items) segment.

Branch Network division
The Branch Network division witnessed a positive development, with sales increasing by eight percent over last year’s figures (from € 163.1 million to € 175.4 million). 
Sales drives in all product sectors as well as the training of specialized sales staff have - in spite of the structural reorganization carried out during the past financial year - had a major share in increasing sales volumes.

Courier.Express.Parcel division
The weakness of the economy has also had impacts on the sales figures in the Courier.Express.Parcel (CEP) division, especially in mail order business. However, the fourth quarter of 2002 brought a distinctive improvement of the sales situation as well as an increase over the same period in 2001.

Media Servcies division
The decline suffered by the Media Services division is attributable to the cessation of payments for services in the public economic interest in 2002. A comparison of sales volumes with last year’s figures adjusted by the loss of these payments indicate a six-percent increase in sales volume. Excellent results for the fourth quarter (with a large volume of items sent in the run-up to the Austrian parliamentary elections) were responsible for this positive development.

For more information please contact:

Österreichische Post AG
Company communication
Press section/ PR
Michael Homola
Tel.: +43 (1) 515 51 - 32010
Vienna, 12 March 2003

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