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Österreichische Post AG present figures for quarters 1-3 of the current financial year

Pressemeldung from 12.12.2002

Economic situation and substitution of classic postal services through new technologies lead to decrease in sales volumes
Stepped up restructuring efforts continue

During the first nine months of the current financial year, 2002, Österreichische Post AG achieved an operating performance of € 1,113.20 million, with profits from ordinary activities amounting to € 11.08 million. During the same period of the previous year, the comparative figures were € 1,145.26 million and € 7.87 million respectively. EBIT for the first three quarters of 2002 amounted to € 12.22 million as compared to € 7.19 million in quarters 1-3 of the previous year. At the end of September 2002, EBITD was at € 60.62 million, as compared to € 62.73 million at the end of September 2001. Over the period from January to September 2002, Österreichische Post AG achieved a financial result of € 1.15 million, as compared to € 15.06 million for the same period in the previous year. The headcount was reduced from 30,427 full-time equivalents in the third quarter of 2001 to an average of 29,337 during the period from January to September 2002.



 Quarters 1-3, 2002
(in million Euro)

 Quarters 1-3, 2001
(in million Euro)
 Operating performance



 Profit from ordinary activities









 Financial result




In spite of 3% savings in HR costs as compared to the same period in the previous financial year, it was not possible to offset the decrease in sales registered during the past year, explained Rudolf Jettmar, member of the board in charge of finances. This decrease is attributable to the continuing weakness of the economy, losses in mail order business, the substitution of classic postal products through new technologies, and growing competition.

Development in the individual divisions
The continuing weakness of the economy is the main reason for customers to cut costs, with an immediate impact, in particular on the volume of letter mail. Given the growing rate of technology use, which is particularly strong in the field of billing, the Letter division expects a continued decline in the volume of items sent.
With 5 percent, the Media Services division managed to achieve a slight increase in sales as compared to the first three quarters of 2001, without taking account of services in the public economic interest in the previous year. However, the ongoing expansion of delivery networks set up by competitors does not give rise to expectations of sustained growth in this sector.
Sales in the Info Mail division showed a slight increase, too (plus one percent). Similar as with the Letters division, generally declining economic growth rates have a negative impact on the market here as well.
In the Courier-Express-Parcel (CEP) division, the negative development of the previously strongest sales engine in the segment, the mail-order business, resulted in a 6% drop in sales as compared to quarters 1-3 in the previous year.
The Branch Network division, on the other hand, witnessed a positive development. Good results in the telecommunications product segment provided for a 5% increase in sales as compared to the previous year.

Outlook: Further restructuring measures required
For Österreichische Post CEO Anton Wais, the expected further decrease in volumes in the organization’s core business, Letters, necessitates a speeding up and expansion of restructuring measures in 2003 and probably also in the years to come.
As far as reducing non-HR costs, the focus in 2003 will be on infrastructure costs as well as on consulting and PR expenses. For 2003, the organization plans to reduce its headcount by an order of magnitude of 1,455 full-time equivalents. Costs for leased personnel will be reduced through organizational measures.
The prerequisites for realizing savings potentials will be created through structural measures such as the speeding up of the reorganization in the distribution segment, optimization of distribution structures, as well as the spin-off of growth sectors and non-core sectors.
On the sales side, measures will include price adjustments and/or new pricing models in the Letter and Info Mail divisions, an expansion of the range of services offered in the Courier-Express-Parcel division, and an optimization of the product mix, especially in the retail sector.

New member of the Supervisory Board - Horst Breitenstein
Horst Breitenstein, vice-director of the Vienna University of Economics and Business Administration, will join the Supervisory Board of Österreichische Post AG. Aged 62, the former CEO of IBM Austria, Central Europe and Russia, will follow Thomas Doll, who will head Österreichische Post AG’s corporate controlling as of January 2003.

For more information please contact:
Österreichische Post AG          
Company communication
Press section/ PR
Michael Homola
Tel.: +43 (1) 515 51 - 32010
Vienna, 12 December 2002