euro adhoc: Österreichische Post AG / Financial Figures/Balance Sheet / Austrian Post: Group revenue Q1-3 2008 plus 7.0% Austrian Post not significantly impacted by current financial crisis; outlook

--------------------------------------------------------------------------------
Disclosure announcement transmitted by euro adhoc. The issuer is responsible
for the content of this announcement.
--------------------------------------------------------------------------------

9-month report

13.11.2008

- Group revenue up 7.0% in Q1-3, to EUR 1,784.6m

- Mail: good revenue development in all business areas, stable earnings
- Parcel & Logistics: lower margins due to integration costs and
streamlining of operations
- Branch Network: slight rise in financial services despite global
financial crisis
- Group earnings lower than in 2007 due to competitive changes in Austrian
market and one-off effects
- Austrian Post not significantly impacted by current financial crisis
- No current external borrowing requirements
- Operating cash flow covers capital expenditure and dividends
- Financial investment policy based on the lowest possible risk
- Postal market largely considered to be stable
- Outlook for 2008
- Increasing revenue
- Earnings before interest and tax (EBIT) in 2008 at the same level as 2007
and then rising in 2009
- Basic dividend in 2009 above previous year´s payment of EUR 1.40 per
share

Austrian Post overview The first nine months of the 2008 financial
year developed relatively well for Austrian Post. Total revenues
increased by 7.0%, which relates to the initial consolidation of the
newly-acquired subsidiaries as well as organic growth.

Austrian Post had several challenges to overcome during the first
three quarters of 2008: the changing competitive situation in the
Austrian parcels market, higher costs due to increasing prices for
fuel and transport as well as the integration of new subsidiaries.

Up until now, Austrian Post has for the most part been spared the
consequences of the current financial crisis. This can be primarily
attributed to the company´s solid balance sheet structure. Austrian
Post has a high equity ratio, and no external borrowing requirements
at present. The investment policy is distinctively conservative.
Investments are financed by the current operating cash flow. This
stability has resulted in a solid share price performance in the year
2008. Whilst the DJ Euro Stoxx Transportation index has declined by
47.9% since the beginning of the year, the Austrian Post share has
only receded in value by 3.7% as at the end of October 2008.

Austrian Post confirms its outlook for 2008 in terms of a forecast
increase in total revenue of about 5%, although forecast accuracy is
affected by the changing international economic environment. This
projected rise includes the consolidation of the recently acquired
subsidiaries. Despite the change in the Austrian parcels business,
Austrian Post expects its earnings before interest and tax (EBIT) to
match the level achieved in the preceding year while rising in 2009.

In order to ensure that the defined business targets are achieved,
the management of Austria Post will do everything possible, both in
the short- and medium-term, to preserve the flexibility and
efficiency of the company and thus sustain the value of the company.

Business development - earnings On balance, total revenue increased
by 7.0% in the first three quarters of the 2008 financial year, to
EUR 1,784.6m. This rise can be primarily attributed to the initial
consolidation of the new subsidiaries (plus EUR 102.8m), as well as
organic growth (plus EUR 14.5m). During the period under review,
revenues of the Mail division were up 7.7% and the Parcel & Logistics
division expanded by 8.2%. Revenues of the Branch Network division
declined by 1.0%. Revenue in all three business areas of the Mail
division developed positively. Despite the ongoing trend towards
electronic substitution, business in the Letter Mail business area
remained virtually constant, whereas the Infomail business area
(addressed and unaddressed advertising) and the Media Post business
area achieved solid organic growth. Revenue of the Parcel & Logistics
division climbed 8.2%, to EUR 575.2m, which is due to the growth of
the premium parcel segment (parcel delivery within 24 hours) both in
Austria and abroad, as well as acquisition-related growth.

Revenue by division Q1-3 Q1-3 Change Q3 Q3
EUR m 2007 2008 % 2007 2008
Total revenue 1,667.3 1,784.6 +7.0% 550.4 585.8
Mail 990.4 1,066,8 +7.7% 327.0 346.3
Parcel & Logistics 531.6 575.2 +8.2% 174.4 192.7
Branch Network 141.8 140.3 -1.0% 48.0 46.3
Other/Consolidation 3.6 2.3 -35.4% 1.0 0.5

Revenue
EUR m Q1-3 Q1-3 Change Q3 Q3
2007 2008 % 2007 2008
Revenue 1,667.3 1,784.6 +7.0% 550.4 585,8
EBITDA 190.5 186.9 -1.9% 60.3 47.1
EBIT 118.3 103.0 -13.0% 33.3 21.0
EBT 123.4 111.1 -10.0% 36.9 22.0
Profit for the
period 96.1 87.5 -8.9% 28.2 17.4
Earnings per share*) 1.37 1.25 -8.8% 0.40 0.25
(EUR)

*)2007 basis of 70.0m shares; 2008 basis of 69.9m shares

Besides the 7.0% increase in revenues, the consolidated income
statement of Austrian Post also shows a 14.9% rise in expenses for
raw materials, consumables and services used to EUR 564.1m. This
development is related to the consolidation of the acquired
subsidiaries, as well as to higher fuel and transport costs during
the period under review. In the first three quarters of 2008, EBITDA
amounted to EUR 186.9m, a decline of 1.9% compared to Q1-3 2007. The
EBITDA margin was 10.5%.

Earnings before interest and tax (EBIT) for Austrian Post amounted to
EUR 103.0m in the first three quarters of 2008, down from EUR 118.3m
in the previous year. This decline can be primarily attributed to a
combination of exceptionals and one-off effects, such as higher
operating expenses for transport and fuel, along with higher social
compensation expenses for employees as well as losses relating to the
integration of the new subsidiaries. In addition, the higher level of
depreciation, amortisation and impairment losses totalling EUR 83.9m
(Q1-3 2007: EUR 72.2m) encompasses impairment losses of EUR 6.2m
primarily related to streamlining measures within Austrian Post´s
parcel logistics operations in Austria. All operating divisions made
a positive contribution to earnings. EBIT at the Mail division was
EUR 190.5m, at the Parcel & Logistics division EUR 6.7m, and the
Branch Network division generated an EBIT of EUR 9.5m. Earnings of
the Mail division and the Branch Network division in the first three
quarters were at the same level as the previous year, whereas
earnings of the Parcel & Logistics division declined due to the loss
of two large parcels customers in Austria as well as the integration
costs relating to the new subsidiaries in the Netherlands and
Belgium.

The Other/Consolidation segment posted a negative EBIT of EUR 103.7m
in the first three quarters of 2008 (Q1-3 2007: minus EUR 100.6m).
This item encompasses unallocated costs for central departments,
expenses in connection with unused properties and the increase in the
provision for employee under-utilisation.

Profit for Austrian Post for the period amounted to EUR 87.5m.

Solid Balance sheet structure Austrian Post features a solid balance
sheet structure. On the assets side, total assets of Austrian Post
amounted to EUR 1,937.0m. Non-current assets predominate, accounting
for 69.9% of total assets, or EUR 1,353.2m. The largest non-current
asset items are property, plant and equipment, at EUR 715.8m,
intangible assets and goodwill, at EUR 318.4m, and "financial
investments in securities" (primarily fixed income investments) and
other financial investments of EUR 207.6m. The principle current
asset items are receivables, at EUR 380.0m, followed by cash and cash
equivalents, at EUR 175.6m The investment policy aims for the lowest
possible risk.

On the equity and liabilities side, the balance sheet total is
primarily comprised of capital and reserves (39.6%) and non-current
liabilities (31.6%). Non-current liabilities of EUR 611.2m largely
consist of provisions totalling EUR 512.9m including provisions for
under-utilisation, which rose by EUR 29.0m in the first three
quarters of 2008, to EUR 359.9m. Current liabilities amounting to EUR
558.5m also include current financial liabilities of EUR 98.7m. A
main part of all current and non-current financial liabilities (EUR
148.6m) is chiefly related to trans-o-flex.

Free Cash flow of EUR 112.1m Total operating cash flow before changes
in working capital amounted to EUR 161.7m in the first three quarters
of 2008, below the comparable figure for Q1-3 2007 due to changes in
non-current provisions. Moreover, higher tax back payment was made in
2008.

The cash flow from changes in working capital amounted to minus EUR
32.2m in the first three quarters of 2008. This is primarily due to
increased receivables from other postal companies. On balance, total
cash flow from operating activities was EUR 129.5m in the first nine
months of 2008.

The cash flow from investing activities of minus EUR 17.4m comprised
the purchase of property, plant and equipment amounting to EUR 60.9m,
the acquisition of subsidiaries including the acquisition of further
interests in subsidiaries totalling EUR 5.7m, the proceeds from the
disposal of property, plant and equipment of EUR 12.1m, and proceeds
from the sale of "financial investments in securities" (primarily
fixed income investments) amounting to EUR 23.1m. On balance, total
free cash flow reported in the first three quarters of the 2008
financial year was EUR 112.1m, up from EUR 91.6m year-on-year.

Employees During the period under review, the average number of
employees (full-time equivalents) in the Austrian Post Group
increased by 6.3%, or 1,619 employees, compared to the first three
quarters of 2007, to a total of 27,141 employees at present. This
increase is related to the acquisition of subsidiaries. In contrast,
Austrian Post reduced the number of its employees on its domestic
market of Austria by about 320 people compared to the first nine
months of the preceding year. Most of Austrian Post´s labour force (a
total of 23,200) work for the parent company, Österreichische Post
AG.

Outlook for 2008 The uncertain global business environment makes it
increasingly difficult to develop precise forecasts for upcoming
reporting periods. Austrian Post has assumed continuous volume growth
in letter mail and direct mail during the current 2008 financial
year, and in fact this trend has been confirmed by developments over
the first three quarters. Furthermore, Austrian Post expects a solid
volume growth in its international parcels business despite
intensified competition. Following the loss of two mail order
customers, the market share distribution in the Austrian parcels
business is expected to remain at the current level. On balance,
Austrian Post anticipates an increase in total revenue of about 5%
for the 2008 financial year as a whole.

In spite of the changes affecting the Austrian parcels segment, we
expect earnings before interest and tax (EBIT) in 2008 to reach the
same level achieved in 2007, with EBIT expected to improve in 2009.

In respect to the expected financing requirements for the 2008 and
2009 financial years, Austrian Post estimates that required
investments in property, plant and equipment (capex) will total EUR
100m - 110m annually. The company expects to carry out a reduced
number of acquisitions during this period, due to the fact that there
are no large acquisition targets fulfilling the investment criteria
in the foreseeable future. The top priority is the optimal
integration of the new Group subsidiaries. In order to ensure that
the defined business targets are achieved, the management of Austrian
Post will do everything possible, both in the short- and medium-term,
to preserve the flexibility and efficiency of the company and thus
sustain the value of the company.

Based on strong cash-generation and a solid balance sheet structure,
Austrian Post aims to continue pursuing an attractive dividend
policy. It is planned to increase the basic dividend above the
previous year´s level of EUR 1.40 per share. Payment of a special
dividend depends on future capital requirements.

Performance of divisions Mail Division In the first three quarters of
2008, external sales of the Mail division rose by 7.7% compared to
the same period of the previous year, increasing to EUR 1,066.8m.
This improvement is chiefly related to the initial consolidation of
the Austrian Post subsidiary meiller direct, which was acquired in
July 2007, as well as organic revenue growth of approximately 1.9%.

External sales of the Letter Mail business area remained quite
stable, declining by 0.4% year-on-year primarily as a consequence of
the replacement of the traditional letter by electronic media. In
contrast, external sales of the Infomail business area (addressed and
unaddressed advertising) rose by 22.4% in the first three quarters of
2008. This increase mainly relates to the first-time consolidation of
the acquired meiller direct companies, but is also due to organic
growth of 4.5%. The Media Post business area also raised its external
sales by 7.3% in the first three quarters, which can be attributed to
the good performance of regional media, but also to the positive
one-off effects of regional and national elections in Austria. In
particular, parliamentary elections held at the end of September
added impetus to all three business areas.

On balance, EBIT of the Mail division in the first three quarters of
2008 amounted to EUR 190.5m, an increase of 1.1%. EBIT generated by
the Mail division in the third quarter totalled EUR 54.8m.

Parcel & Logistics Division External sales of the Parcel & Logistics
division climbed to EUR 575.2m in the first three quarters of 2008, a
rise of 8.2%. The main contribution to total revenue (84% of division
sales) was made by the premium parcel service (parcel delivery within
24 hours to private and business customers), which expanded by 15% to
about EUR 485m in the first nine months of 2008, due to both organic
growth as well as the acquisition of new companies. On the one hand,
growth resulted from acquisitions implemented in South East Europe,
i.e. Road Parcel and Merland/Hungary as well as City Express/Serbia.
On the other hand, newly-acquired subsidiaries in Western Europe,
namely DDS/Netherlands, VOP/Belgium and HSH/Belgium effectively
complement the network of the German subsidiary trans-o-flex.

As expected, total volume decreased in the standard parcels segment
in Austria (about 15% of division sales), due to the market entry of
a German parcel service provider, and is being subject to a
streamlining process in 2008, which will be completed by the end of
the year.

In the first three quarters, earnings before interest and tax (EBIT)
of the Parcel & Logistics division amounted to EUR 6.7m. The decline
is related to the expected market share decrease in Austria resulting
from the loss of two large parcels customers, as well as the high
integration costs for the new subsidiaries in the Netherlands and
Belgium as well as increased transport and fuel costs during the
period under review.

Branch Network Division External sales of the Branch Network division
fell by 1.0% in the first nine months of 2008 compared to the same
period of the previous year, to EUR 140.3m. The decline in sales of
retail products, in particular sales of mobilephones, was largely
compensated by a slight growth in financial services and other post
office products. Growth measures were initiated, such as the sales
drive targeting private customers. Growth in the financial services
segment was achieved despite the current financial crisis prevailing
in recent months, in particular for standard products, where demand
was stronger. Internal sales of the division were stable. Similarly,
earnings before interest and tax (EBIT) of the Branch Network
division remained constant due to cost discipline and organisational
optimisation measures, with the EBIT margin once again at 3.3%.

end of announcement euro adhoc
--------------------------------------------------------------------------------

ots Originaltext: Österreichische Post AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Austrian Post

Head of Investor Relations

Mr. Harald Hagenauer

Tel.: +43 (0) 57767 - 30400

Head of Group Communications

Mr. Marc Zimmermann

Tel.: +43 (0) 57767 - 22626

marc.zimmermann@post.at

Group Communication/Press Spokesman

Mr. Michael Homola

Tel.: +43 (0) 57767 - 32010

michael.homola@post.at

Branche: Transport
ISIN: AT0000APOST4
WKN: A0JML5
Index: ATX Prime, ATX
Börsen: Wiener Börse AG / stock market