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UPDATE 1-Austrian Post targets higher operating profit in 2015
March 12, 2015 / 7:52 AM / 3 years ago

UPDATE 1-Austrian Post targets higher operating profit in 2015

* Reiterates FY 2014 EBIT of 197 mln eur

* Proposes 1.95 eur/share dividend

* Targets higher 2015 EBIT (Adds details on EBITDA margin)

VIENNA, March 12 (Reuters) - Austrian Post is targeting a 1-2 percent rise in revenue this year, and an increase in operating profit, it said on Thursday.

It proposed a dividend of 1.95 euros per share for the 2014 business year, its highest since 2008 as growth in its parcel and logistics business more than offset a drop in its mail segment last year.

The company last month reported 2014 earnings before interest and tax (EBIT) of 197 million euros ($208.76 million), citing preliminary figures. It confirmed that figure on Thursday.

It said that it expected a higher EBIT in 2015, but did not give details. It is targeting an earnings before interest, tax, depreciation and amortisation (EBITDA) margin of 12 percent this year, down from last year’s 14.1 percent.

Revenue from Austrian Post’s eastern European subsidiaries grew more than 10 percent year-on-year in 2014. Revenue at its German business trans-o-flex was broadly flat and it recorded an impairment charge of around 40 million euros.

“New sorting technologies will enable Austrian Post to consistently exploit cost reduction potential,” it said.

“One focal point is the continuation of the efficiency enhancement programme in the trans-o-flex group, entailing a reorganisation of process, distribution and staff structures.”

$1 = 0.9437 euros Reporting By Shadia Nasralla and Angelika Gruber; Editing by Anand Basu and Pravin Char

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