Restructuring of trans-o-flex is a burden for Austrian Post
The restructuring process of the German subsidiary trans-o-flex led to a clearly negative earnings effect at Austrian Post group
Austrian Post achieved solid business results in the 2014 financial year, according to preliminary figures. In line with the existing outlook, the company reported a stable revenue development. On balance, Group revenue in 2014 amounted to EUR 2,37 million, a rise of 0.2% from EUR 2,36 million in the previous year. According to preliminary figures, EBIT rose 5.9 per cent in the 2014 financial year to EUR 197 million.
The revenue trends of the first three quarters 2014 continued in the fourth quarter. The Mail & Branch Network Division registered a 1.5 per cent revenue decline during the year to EUR 1,49 million. This was more than compensated by the Parcel & Logistics Division, which generated a revenue increase of 3.1 per cent to EUR 882 million in 2014, up from the prior-year level of EUR 856 million. The decrease in the mail business was due to the ongoing trend towards electronic substitution of letters and declining direct mail volumes. At the same time, revenue from branch network services also fell in 2014.
From a regional perspective, the Parcel & Logistics Division showed a slight revenue drop in the highly competitive German market. In contrast, a significant top-line increase was achieved in Austria and in South East and Eastern Europe.
The German subsidiary trans-o-flex Group is in the midst of a restructuring process as a consequence of the highly competitive market environment. The related write-downs and structural measures as well as the impairment loss on goodwill (non-cash) led to a negative earnings effect totalling EUR 49 million.
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Quelle: LogEastics
Portal: www.logistik-express.com