EANS-Adhoc: Österreichische Post AG AUSTRIAN POST: ECONOMIC IMPACT OF THE CORONA CRISIS CURRENTLY CANNOT BE ESTIMATED ? COST SAVINGS MEASURES INITIATED
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Disclosed inside information pursuant to article 17 Market Abuse Regulation
(MAR) transmitted by euro adhoc with the aim of a Europe-wide distribution.
The issuer is responsible for the content of this announcement.
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Earnings Forecast
23.03.2020
Vienna, 23 March 2020 -
* As an integral part of the country's critical infrastructure, Austrian Post
maintains its business operations for the sake of Austria's well-being and
security
* Revenue losses are anticipated, depending on the duration and consequences of
the current restrictions
* Cost reduction measures have been initiated alongside the postponement of not
time-critical projects
* From today's perspective, the effect on earnings for the year 2020 cannot be
estimated
* Solid balance sheet with high equity ratio and high liquidity enhances the
company's resilience
POSTAL SERVICES CONTINUE TO BE PROVIDED DESPITE THE DIFFICULT ENVIRONMENT
Austrian Post strives to fulfil the mandate of the Austrian Federal Government
with the greatest effort, even in these difficult times: the company's
responsibility is to continue providing its services and thus universal postal
services as part of the nation's critical infrastructure.
Austrian Post's branch offices as well as the majority of postal partners will
remain open to the Austrian population where it is officially permitted. The
delivery staff continues to visit four million households and companies on a
daily basis, despite difficult conditions related to restrictions of public life
and border closings. The employees at the distribution centres also continue to
be deployed around the clock for the purpose of sorting letters and parcels.
NEGATIVE REVENUE EFFECTS ANTICIPATED
Austrian Post expects a decline in letter mail and particularly in direct mail
volumes with respect to its revenue development over the coming months, and
thus, for the entire year 2020. With the exception of the retail food sector,
advertising mail is strongly affected, the extent of which will depend on the
duration of store closures. The limited international movement of goods can also
have a negative impact. The crisis has sparked an increased demand in the
private customer parcel (B2C) segment in Austria but has also had a negative
impact due to the insufficient availability of products. In contrast, a negative
volume development is expected at present in the business parcel(B2B) business.
COST REDUCTION MEASURES INITIATED, EARNINGS IMPACT CANNOT YET BE ESTIMATED
Stringent cost savings measures have been initiated to counteract the negative
revenue effects. These measures relate to staff costs, including partial short-
time work and the reduction of unused vacation time, as well as material costs.
Projects, which are not time-critical at present, will be postponed.
The further development of the coronavirus crisis and the measures undertaken by
the public authorities in response to it will have a direct impact on economic
forecasts. At the moment, however, it is impossible to quantify the scope of the
negative earnings impact. In the medium term, the solid balance sheet of
Austrian Post with a strong equity ratio and high liquidity enhances the
resilience of the company's business model in the uncertain economic
environment.
Further inquiry note:
Austrian Post
Ingeborg Gratzer
Head of Press Relations & Internal Communications
Tel.: +43 57767-32010
ingeborg.gratzer@post.at
Harald Hagenauer
Head of Investor Relations, Group Auditing & Compliance
Tel.: +43 57767-30400
harald.hagenauer@post.at
end of announcement euro adhoc
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issuer: Österreichische Post AG
Rochusplatz 1
A-1030 Wien
phone: +43 (0)57767-0
FAX:
mail: investor@post.at
WWW: www.post.at
ISIN: AT0000APOST4
indexes: ATX
stockmarkets: Wien
language: English
issuer: Österreichische Post AG Rochusplatz 1 A-1030 Wien phone: +43 (0)57767-0 FAX: mail: investor@post.at WWW: www.post.at ISIN: AT0000APOST4 indexes: ATX stockmarkets: Wien language: English ...
issuer: Österreichische Post AG Rochusplatz 1 A-1030 Wien phone: +43 (0)57767-0 FAX: mail: investor@post.at WWW: www.post.at ISIN: AT0000APOST4 indexes: ATX stockmarkets: Wien language: English ...