News vom 06.05.2009
Annual General Meeting of Austrian PostAll items on the agenda approved
Announcement of a reduction in operating expenses (excl. staff costs) by about EUR 30m in the next 12 months, CAPEX to be cut back by 20% in 2009
All items on the agenda were approved at today’s Annual General Meeting of Austrian Post, which was attended by some 400 guests. Details and voting results in respect to each of the items on the agenda are available at www.post.at/ir.
2008 financial year characterised by stability and value generation
Rudolf Jettmar, Chairman and Chief Executive Officer of Austrian Post, gave an account of a successful 2008 financial year to shareholders attending the Annual General Meeting. Key figures underline the success of the company’s efforts in the interest of ensuring stability and value generation. The extremely stable price of the Austrian Post share demonstrates that the capital market also positively judged the business model of Austrian Post. In spite of a decidedly turbulent capital market environment, Austrian Post was the only share listed on the Vienna Stock Exchange benchmark index ATX which posted a slight increase in value in the course of 2008.
Difficult cyclical market environment in 2009
The 2009 financial year is being primarily influenced by the overall business development of the global economy. Economic forecasts which have recently been continually revised downwards clearly show the speed and depth of the prevailing recessionary tendencies. Austrian Post will not be immune against the negative effects of the economic downturn. In this situation, the management’s efforts focus on providing products and services which meet customer needs. For example, complementary services such as printing, scanning and mailroom services as well as customer-friendly opening hours at postal service points are designed to optimally safeguard if not enhance existing business volume. The success in winning a major new customer in the parcels segment proves that the range and quality of services offered by Austrian Post as well as the confidence placed by our employees by customers fully correspond to market expectations.
The revenue-related steps being implemented by the company must be supported by further significant efficiency improvements and rationalisation measures. Accordingly, the Management Board of Austrian Post has decided to launch a cost optimization programme featuring a reduction in all items encompassed by the cost of materials and operating expenses (excluding staff costs) by about EUR 30m over the next 12 months. In addition, planned capital investments (CAPEX) will be cut back by 20% in the year 2009. These expenditure reduction measures will not in any way negatively affect the infrastructural framework required to ensure Austrian Post’s market success.
The ongoing improvement of organisational operations as well as the processes and methods involved in providing postal services represents an essential pre-requisite for ensuring the economic performance and competitiveness of the company. The changes initiated in the operating model applying to the branch network (replacing about 300 company-owned branches by postal partner offices) is an example of a successful increase in efficiency which simultaneously takes into consideration both customer interests and the obligation to provide universal postal services throughout the country.
Mr. Marc Zimmermann
Head of Group Communications
Tel.: +43 (0) 57767 – 22626
Mr. Michael Homola
Tel.: +43 (0) 57767 – 32010
Mr. Harald Hagenauer
Head of Investor Relations
Tel.: +43 (0) 57767 – 30400