Ahead to the Future: Austrian Postal Market and Bank99 Overview
OUTLOOK 2022
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Market environment
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Economic environment in 2022 impacted by inflation, loss of purchasing power and restrained consumer behaviour
Inflation expected to be reinforced due to war in the Ukraine
Positive special effects from pandemic for parcel and logistics services decline in 2022
Challenging economic conditions imply greater difficulty in making accurate mail and parcel volume forecasts
Revenue
As stable revenue as possible targeted for 2022 against the backdrop of growing economic challenges;
the prerequisite is an improvement of the economic environment and decrease in pressure on the Turkish lira
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· Ongoing letter mail decline expected; inflation heightens the importance of product and price adjustments
- Following strong growth in previous years, parcel business volatile on a quarterly basis (peak values H1 of previous year difficult to
achieve), full-year level of 2021 targeted again
- Higher revenue in the Retail & Bank Division with an expanding financial services business
Investments
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As in previous years, the investment programme is a top priority (capacity expansion plus transition to climate-neutral delivery)
Maintenance CAPEX of about EUR 100m, Growth CAPEX of about EUR 80m
Earnings
Difficult earnings forecast due to current environment
- Inflationary trend not only temporary but due to war long term
Parcel business from tailwinds to headwind from economic environment
Group EBIT H1 2022 expected below previous period; full year 2022 close to previous year's level targeted
Dividends
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Proposal to the Annual General Meeting on 21 April 2022 to approve payment of a dividend of EUR 1.90 per share for 2021
Ongoing objective to continue distributing at least 75% of the Group net profit
INVESTOR PRESENTATION Investor Relations Vienna, 11 March 2022
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