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Austrian Post Intends to Grow through Acquisitions

Published: November 29, 2011; 12:12 · (Vindobona)

CEO Georg Pölzl wants to invest € 100m in Eastern and Western European markets. The dividend might be raised to € 1.65 per share.

Austrian Post Intends to Grow through Acquisitions / Picture: © Österreichische Post AG

The stock-listed Austrian Post AG is planning to grow through acquisitions in the future. CEO Georg Pölzl is willing to spend more than € 100m on takeovers, he said at an investor conference in New York. “We are actively looking at companies that could be interesting for us, not only in Eastern, but also in Western Europe”, Pölzl stated.

He refused to confirm or deny reports that dividends for the year 2011 might be raised to € 1.65 per share (2010: € 1.60), saying that the market expected a slight increase. The forecast of 3.5% to 4% growth in 2011 was confirmed by Pölzl. Especially the parcel business was growing and compensating for the decline in the mail division.

The CEO of Austrian Post expects continued high growth rates in Eastern Europe and he sees further opportunities resulting from the deregulation of the mail delivery market in many countries in this region.

The German subsidiary trans-o-flex, however, is below expectations, according to Pölzl. “2% to 2,5% EBIT margin is too little”. He expects at least 4.5% to 5%. Restructuring measures have already been taken, for which the company made provisions of € 18.5m.

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