OFFICIAL CORRECTION Oesterreichische Post FY EBIT below forecasts UPDATE |
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Published
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Wed, 14 Mar 2007 11:04
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(The company issued a corrected press release, changing medium-term decline referred to in penultimate paragraph to earnings from revenue)VIENNA (AFX) - Oesterreichische Post said full year EBIT rose by 19.7 pct to 123.3 mln eur, coming in below the consensus estimate of 127.45 mln eur.The Austrian mail and parcel services provider said it targets EBIT growth of 20-25 pct for 2007.The company expects organic revenue to remain flat in 2007. However, the first-time incorporation of speciality logistics firm trans-o-flex should contribute to growth in both revenue and earnings.An expected improvement in operating income in 2007 should also help to make the targeted EBIT growth rate achievable, according to Oesterreichische Post.The company also said it will propose a 2006 dividend of 1.00 eur per share. The total dividend for 2006 would thus be 70 mln eur, up 75 pct from the 40 mln eur dividend paid in 2005.Revenue increased 2.1 pct year-on-year to 1.737 bln eur, while full-year net profit was down 0.2 pct to 99.8 mln eur.The former postal monopolist does not expect its 2007 results to be significantly impacted by the market entry of new postal operators. However, growing competition could lead to a medium-term earnings decline of 20-25 mln eur, according to Oesterreichische Post.The company said that it is 'carefully' evaluating an offer by BAWAG-owner Cerberus to acquire a minority stake in the Austrian bank.peter.klopf@thomson.compkl/jms/pkl/jfr/pkl/hjpCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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