Austrian Post: parcel and logistics division reports losses
Cost reductions have top priority at Austrian Post The Management Board of the Österreichische Post AG (Austrian Post) is continuously taking initiatives to improve efficiency and reduce costs in response to declining volumes and a market environment that is marked by a strong price pressure. Between January and June turnover fell 3.6 per cent compared to last year, to EUR 1.156 billion. Earnings before interests and taxes deteriorated by 8 per cent to EUR 75.4 million, as the Management announced at the presentation of the half-year report. The “Paket & Logistik“ (parcel and logistics) division of the enterprise shows a decline in sales revenues of 3 per cent to EUR 371.1 million. EBIT amounted to EUR 3.4 million and was thus clearly negative. In the first half-year 2008 this item showed a profit of EUR 7.1 million. In contrast the Management Board expects a volume growth in this segment in Austria for the financial year 2009, supported by the newly won customer Hermes. Quelle: Österreichische Verkehrszeitung |