EANS-Adhoc: Österreichische Post AG / Austrian Post in 2012: Higher sales and earnings (EBIT +8.9%) Parcel & Logistics Division posts positive results again Dividend proposal of EUR 1.80 per shar

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Financial Figures/Balance Sheet/annual report
14.03.2013

- Higher revenue - Revenue up 0.7% (+ 1.9% excl. Benelux) to EUR
2,366.1m - Revenue increase in both divisions compared to the
previous year - Further increase in earnings - EBITDA margin of
11.5% - EBIT rise of 8.9% to EUR 182.4m - Strong cash flow and
solid balance sheet - Operating cash flow ensures future-oriented
investments and dividends - Free cash flow before
acquisitions/divestments up 5.7% to EUR 170.5m (EUR 2.52 per share)
- Early application of IAS 19 (revised) has no material effects on
financial reporting - Attractive dividends - Continuation of
attractive dividend policy - Dividend proposal of EUR 1.80 per
share to the Annual General Meeting - Outlook for 2013 - Stable or
slightly rising revenue expected in 2013 - EBITDA margin once again
within the targeted range of 10-12%

AUSTRIAN POST AT A GLANCE The national and international business
environment faced by Austrian Post and its customers during the 2012
financial year was characterised by a generally uncertain economic
climate. The Austrian Post Group developed very satisfactorily during
the reporting year against the backdrop of these prevailing
macroeconomic conditions. "This performance once again underlined the
fact that the strategic direction of the Group is the right one.
Accordingly, we strengthened our market position in our domestic
market of Austria in 2012, both in the mail and parcel businesses. At
the same time, growth opportunities were exploited in the promising
emerging markets of South East and Eastern Europe", says Austrian
Post CEO Georg Pölzl. Group revenue improved to EUR 2,366.1m. Both
operating divisions, the Mail & Branch Network Division and the
Parcel & Logistics Division, posted revenue increases. This solid
development of the divisions is also reflected in the Group's
operating results. EBIT climbed by 8.9% in 2012 to EUR 182.4m. In
particular, the Parcel & Logistics Division achieved an increase in
earnings and is profitable again. This can be attributed to the solid
development of the domestic market as well as the performance
improvement in its international business. The Mail & Branch Network
Division was once again negatively impacted by the ongoing
substitution of traditional letters by electronic forms of
communication. In addition, advertising expenditures proved to be
rather volatile due to the economic environment. The restructuring of
the branch network and the related efficiency increases contributed
to the division's positive development. Austrian Post's presence in
its domestic market of Austria expanded to 1,931 postal service
points, of which 1,376 are now third-party operated postal partners.
Looking beyond Austria's borders, the mail business in 2012 was
characterised by focused growth. The entry into further promising
growth markets in South East and Eastern Europe was accomplished
following the acquisition of the market leader in unaddressed direct
mail items in Poland, and the stake purchased in a Bulgarian company.
At the same time, Austrian Post's shareholding in its Romanian
subsidiary was increased to 100%. The Parcel & Logistics Division
disproportionately profited from the good environment prevailing in
the Austrian parcel business and increased its market shares. Based
on a record volume of 65m parcels, Austrian Post's market leadership
in the private customer segment featuring a 75% market share was
confirmed once again. At the same time, the market share of business
customers expanded to 22%. In the international parcel business, the
focus of the division's activities in 2012 was on the profitability
of the services rendered by Austrian Post. In this regard, the
unprofitable subsidiaries in the Benelux region were disposed of, and
a comprehensive performance improvement programme was launched in
Germany. The top priority in the coming years will be on further
enhancing the profitability of the Parcel & Logistics Division. Cash
flow from operating activities amounting to EUR 246.7m in 2012 served
as the basis for extensive investments to safeguard the future of the
business and sustainably increase efficiency, as well as to continue
Austrian Post's attractive dividend policy. The objective remains to
further develop dividends in line with the Group net profit. Due to
the good business development, combined with a solid balance sheet
and a strong cash flow, the distribution of a dividend amounting to
EUR 1.80 per share for the 2012 financial year will be proposed to
the Annual General Meeting scheduled for April 18, 2013, a rise of
5.9% from the previous year. The dividend yield based on the share
price at the beginning of March 2013 is 5.8%. In future, our focus
will be on compensating for declining letter mail volumes by
achieving growth in the parcel and logistics business, and exploiting
opportunities in future growth markets. "For me it is important to
continue decisively in fulfilling customer needs and increasing the
level of service in the future as well. The further development of
self-service solutions and the simplification of logistics processes
results in significantly greater comfort for our customers and,
simultaneously, efficiency improvements in our operating business",
Georg Pölzl adds. The medium-term revenue growth objective of 1-2%
annually remains unchanged. With respect to its sustainable earnings
development, Austrian Post will continue to strive to generate an
EBITDA margin within the targeted range of 10-12%.

REVENUE DEVELOPEMENT IN DETAIL

REVENUE BY DIVISION*

EUR m 2011 2012 Change in % Q4 2011 Q4 2012
Total revenue 2,348.7 2,366.1 0.7% 638.7 643.2
Revenue excl.
Benelux** 2,304.4 2,348.9 1.9% 627.6 643.2
Mail & Branch
Network*** 1,500.7 1,508.2 0.5% 409.7 417.0
Parcel & Logistics
Division 846.5 858.1 1.4% 228.5 226.1
Parcel & Logistics
excl. Benelux** 802.2 840.9 4.8% 217.3 226.1

Calendar working days in Austria 250 250 -
61 62

* External sales of the divisions ** The closing of the disposal of
trans-o-flex Netherlands as at March 15, 2012, for trans-o-flex
Belgium as at May 31, 2012 *** Reporting according to the new segment
structure as of January 1, 2012; figures for 2011: pro-forma
consolidation

Austrian Post succeeded in increasing total revenue in 2012 by 0.7%,
to EUR 2,366.1m. Adjusted to take account of the disposed and
deconsolidated subsidiaries in the Benelux region, the year-on-year
revenue increase would have totalled 1.9%. Thus, Group revenue
developed very satisfactorily against the backdrop of an uncertain
economic situation. Revenue in the Mail & Branch Network Division
rose slightly by 0.5%, to EUR 1,508.2m. Letter mail and direct mail
volumes did not develop uniformly. The letter mail business continues
to be impacted by the structurally-related volume decline caused by
the electronic substitution of traditional letters. In turn,
advertising mail showed a high level of volatility during the course
of the year. In particular, the uncertain cyclical development
dampened advertising expenditures. However, divisional revenue was
also impacted by positive effects: On the one hand, there was a
volume shift from direct mail items to higher quality letter mail
products. In addition, online shopping shipments are increasingly
being sent as letter mail items instead of parcels. Moreover, the
change in the product portfolio of Austrian Post as of May 1, 2011
continued to deliver positive effects in the first four months of the
2012 financial year compared to 2011. Revenue and costs of Branch
Services, which are now included in the Mail & Branch Network
Division, declined during the period under review as a consequence of
the structural transformation of the network. On balance, Austrian
Post featured a total of 1,931 postal service points as at December
31, 2012, of which 1,376 are third-party operated postal partner
offices. Revenue of the Parcel & Logistics Division rose by 1.4% in
2012, to EUR 858.1m. This figure includes the revenue of the disposed
Benelux subsidiaries until their deconsolidation. Adjusted for these
companies, revenue in the 2012 financial year climbed 4.8%. From a
regional perspective, the Austrian parcel market generated the
highest growth of about 11%.

INCOME STATEMENT In line with revenue development (+ 0.7%), operating
expenses for raw materials, consumables and services used also
climbed correspondingly by 0.9% to EUR 766.9m. For example, cost
increases arose as a result of increased purchases of external
transport services, the introduction of automatic pre-sorting for
direct mail items in the collective advertising envelope KUVERT as
well as higher commissions for postal partner offices, which is
related to the structural changes in the branch network. Staff costs
rose by 3.9% year-on-year to EUR 1,091.4m. This figure mainly
consists of operational staff costs as well as non-operational staff
costs in the Group, which are primarily designed to enable a
sustainable improvement in the cost structure. On balance,
non-operational staff costs in 2012 amounted to about EUR 55m (after
about EUR 33m in 2011), encompassing restructuring measures,
provisions and severance payments. Severance payments totalling EUR
26.1m arose during the reporting period within the context of the
ongoing readjustment of the company's business operations.
Furthermore, various provisions were set aside, for example for the
voluntary social plan, uncertain liabilities related to charges and
contributions, employee under-utilisation and for employees
transferring to the federal public service. The adjustment of the
parameters for the valuation of provisions, for example changes in
the discount interest rate, resulted in an additional burden of EUR
11.0m in 2012. In the 2012 financial year, earnings before interest,
tax, depreciation and amortisation (EBITDA) of the Austrian Post
Group decreased by 3.8% to EUR 271.2m. This included an at equity
impairment loss of EUR 9.6m. The EBITDA margin amounted to 11.5%, and
was thus at the upper end of the targeted range of 10-12%, as
forecast. Depreciation, amortisation and impairment losses of
Austrian Post totalled EUR 88.8m in the reporting period. Earnings
before interest and tax (EBIT) of Austrian Post improved by 8.9% in
2012 to EUR 182.4m, corresponding to an EBIT margin of 7.7%.

EBIT BY DIVISION

EUR m 2011 2012 Change in % Q4 2011 Q4 2012
Total EBIT 167.5 182.4 +8,9% 58.0 56.8
Mail & Branch
Network* 277.1 272.5 -1.7% 80.2 83.5
Parcel & Logistics -28.2 25.3 >100% -22.6 8.9
Corporate -81.4 -114.8 -41.1% 0.4 -35.6
Earnings per share 1.82 1.82 0.0% 0.65 0.42

* Reporting according to the new segment structure as of January 1,
2012; figures for 2011: pro-forma consolidation

From a divisional perspective, the Mail & Branch Network Division
generated an EBIT of EUR 272.5m in the 2012 financial year, slightly
below the prior-year level due to the above-mentioned impairment
loss. The Parcel & Logistics Division managed a strong improvement in
earnings from a Group perspective. The division succeeded in
achieving an EBIT of EUR 25.3m, compared to the 2011 financial year,
which had been impacted by the negative balance sheet effects of the
disposal of the subsidiaries in Belgium and the Netherlands. The
improved earnings should serve as the basis for further positive
development of the division. EBIT of the Corporate Division was down
from minus EUR 81.4m in 2011 to minus EUR 114.8m in 2012. This
difference can be mainly attributed to the non-operational staff
costs described above. These expenses particularly involved severance
payments, changes in the discount interest rate, and various
provisions for the voluntary social plan and uncertain liabilities
related to charges and contributions in 2012. The other financial
result of Austrian Post amounted to minus EUR 30.8m in 2012, which is
attributable to the write-down of the company's indirect shareholding
in the bank BAWAG P.S.K. by EUR 28.4m. The underlying reasons for
this impairment were two-fold: on the one hand, the reduced valuation
of the investment itself, and on the other hand, a dilution of the
share held by Austrian Post following the restructuring of the
holding and financing structure of BAWAG P.S.K. and the stake in the
bank acquired by a new large investor. Austrian Post did not
participate in the capital increase implemented as part of the
recapitalisation of BAWAG P.S.K. The objective of Austrian Post has
primarily been to ensure a successful cooperation on an operational
level with respect to the jointly operated branch offices. The tax
burden in 2012 amounted to EUR 28.4m. The decline in income tax
expenses is due to the lower assessment base and the recognition of
deferred tax assets on tax loss carry-forwards. After deducting
income tax, the Group net profit (profit after tax for the period)
amounted to EUR 123.2m, at precisely the same level as in the
previous year. Thus, earnings per share remained constant at EUR 1.82
for the 2012 financial year.

CASH FLOW Operating cash flow before changes in working capital
amounted to EUR 254.6m in 2012, or EUR 6.0m above the comparable
prior-year period. Taking account of the cash flow from changes in
net working capital totalling minus EUR 7.9m, cash flow from
operating activities was EUR 246.7m, an increase of EUR 18.5m from
the previous year. These funds were mainly devoted to future-oriented
investments in 2012. EUR 86.2m was invested in property, plant and
equipment and intangible assets (CAPEX), whereas EUR 39.3m involved
acquisitions or divestments of subsidiaries. After deducting the
entire cash flow from investing activities, free cash flow amounted
to EUR 131.3m. The free cash flow generated during the reporting
period thus once again surpassed the dividend of EUR 114.8m
distributed in 2012 for the 2011 financial year.

BALANCE SHEET The early application of IAS 19 (revised) did not have
any significant effects on financial reporting. With the exception of
a few minor earnings effects, in which earnings in 2011 were adjusted
in accordance to new regulations, there were no accounting effects.
Changes in provisions for pensions and termination benefits were
already fully recognised in the past in profit and loss. The balance
sheet implies a solid equity ratio of 42%. Moreover, Austrian Post
has a high level of liquidity, in the light of the fact that the
available cash and cash equivalents far surpass the total financial
liabilities.

EMPLOYEES During the period under review, the average number of
employees at Austrian Post (in full-time equivalents) fell by 188
people compared to the prior-year figure, to 23,181. Most of Austrian
Post's labour force, namely 20,598 full-time equivalent employees
(2011: 20,674), work in Austria.

OUTLOOK 2013 Austrian Post assumes that its revenue development in
2013 will be dominated by three major trends: electronic substitution
of letters, the development of the advertising industry, and the
national and international volume development of parcels. The
medium-term revenue growth target of 1-2% per year defined by
Austrian Post remains unchanged. In the light of a 1.9% revenue
increase in 2012 (excl. the Benelux subsidiaries), which is at the
upper end of the targeted range, the company expects a stable or
slightly positive revenue development in 2013. The basis for this
assessment is the ongoing volume decline in letter mail volumes.
Austrian Post expects the decrease to amount to 3-5% p.a., reflecting
international trends. In contrast, there could be a stabilisation in
direct mail volumes in 2013 following the drop in advertising mail
volumes in the period under review. Generally speaking, the
advertising industry is more dependent on cyclical developments.
However, Austrian Post expects that direct mail, an efficient
advertising tool, will continue to maintain its importance in the
future as part of the marketing mix of companies. With respect to
parcel volumes, Austrian Post continues to anticipate robust growth
in its business with the private customer segment, whereas the
intense level of competition is likely to continue in the business
customer segment. Increasing the profitability of the services
rendered continues to be a key focal point of the Group's activities.
In particular, Austrian Post will continue to promote efficiency
increases in its parcel and logistics business as a follow-up to the
successes which have already been achieved. With respect to
sustainable earnings development, Austrian Post confirms the targeted
EBITDA margin in the range of 10%-12%. The company is also striving
to achieve a further improvement in earnings before interest and tax.
The operating cash flow generated by Austrian Post will continue to
be prudently used mainly to finance sustainable efficiency
improvements, structural measures and future-oriented investments.
Austrian Post anticipates total capital expenditure to reach a level
of about EUR 90m in 2013. This will primarily focus on replacement
investments in existing facilities as well as the continuous
modernisation and efficiency enhancement. Acquisitions, which aim to
round off and safeguard Austrian Post's core business, are possible.
The Management Board of Austrian Post will propose to the upcoming
Annual General Meeting scheduled for April 18, 2013, to distribute a
dividend of EUR 1.80 per share for the 2012 financial year. Once
again, the company is continuing its attractive dividend policy,
based on a solid balance sheet structure and the generated cash flow.
Austrian Post aims to achieve a dividend payout ratio to shareholders
of at least 75% of Group net profits. The dividend should develop
further in line with Group net profits assuming a continuation of the
company's good business development.

PERFORMANCE OF DIVISIONS MAIL & BRANCH NETWORK DIVISION Divisional
revenue rose slightly by 0.5% in 2012 to EUR 1,508.2m. The current
financial year was shaped by economic uncertainties in addition to
structural trends. In the Letter Mail business, revenue improved by
2.7% from the prior-year period to EUR 784.6m. The trend towards
decreasing letter mail volumes related to electronic substitution
continued. However, this structural trend was counteracted by volume
shifts from direct mail items to higher quality letter mail products
as well as the increase in Internet orders, which are no longer sent
as parcels but as letter mail items in response to customer demands.
In addition, changes in the product portfolio of the Letter Mail
segment, which took effect on May 1, 2011, still continued to deliver
positive contributions to revenue growth in the first four months of
the 2012 financial year. Revenue in Austrian Post's Direct Mail
business fell slightly to EUR 445.2m in 2012. Increased volatility
was perceptible during the course of the year, which is primarily
attributable to economic uncertainty. In particular, business was
characterised by a negative volume development starting in the middle
of 2012, but the situation improved towards the end of the year. In
addition, mail order customers faced structural problems, leading
them to reduce their shipment volumes. In contrast, revenue of the
Media Post business improved by 4.4% in 2012, to EUR 143.7m. Both
revenue and costs declined in the former Branch Network Division,
which is now reported under Branch Services. Half of the revenue
decline is due to the reclassification of the value logistics
business as part of the Parcel & Logistics Division, the other half
as a consequence of declining revenue from retail goods and financial
services. On balance, EBIT of the Mail & Branch Network Division fell
by 1.7% to EUR 272.5m. This includes an impairment loss of EUR 9.6m
relating to the joint venture MEILLERGHP, which is consolidated at
equity.

PARCEL & LOGISTICS DIVISION External sales of the Parcel & Logistics
Division climbed by 1.4% in 2012, to EUR 858.1m. As at March 15,
2012, an agreement was signed with PostNL regarding its acquisition
of the Austrian Post subsidiaries in the Netherlands and Belgium.
Adjusted to take account of the former Benelux subsidiaries, the
Parcel & Logistics Division achieved a 4.8% revenue increase on a
year-on-year comparison. Since the beginning of the year, the company
Post.Wertlogistik GmbH specialising in value logistics has been a new
part of the portfolio offered by the Parcel & Logistics Division,
whereas it was previously assigned to Austrian Post's former Branch
Network Division. In addition, the firm Systemlogistik Distribution
GmbH acquired as at May 31, 2012, expands the range of services
offered by the division with respect to the warehousing, picking and
packing of goods. The Premium Parcel business (parcel delivery within
24 hours), which is mainly used in the business-to-business segment,
generated revenue of EUR 650.8m in 2012 (EUR 635.4m excluding
Benelux). The German trans-o-flex Group accounted for about
three-quarters of this revenue. trans-o-flex is, at present, clearly
focusing on the implementation of an efficiency enhancement programme
in its distribution logistics. Accordingly, revenue remained stable.
In contrast, parcel volumes of business customers increased at an
above average rate in Austria, where Austrian Post increased its
market share to 22%, as planned. Strong volume growth was achieved in
South East and Eastern Europe in 2012 against the backdrop of
intensified price pressure. The Standard Parcel business, which
mainly involves shipments to private customers, also posted growth.
Revenue rose by 6.6%, to EUR 177.8m, with growth primarily witnessed
in the Austrian market. On balance, EBITDA of the Parcel & Logistics
Division improved to EUR 46.6m. EBIT in 2012 amounted to EUR 25.3m,
significantly above the prior-year level, which was considerably
burdened by the negative impact on the balance sheet arising from the
disposal of the Benelux subsidiaries. This earnings contribution, as
reflected in an EBIT margin of 2.9%, is a good starting point for the
further development of the division.

The Annual Financial Report of 2012 is available on the Internet:
www.post.at/ir/en --> Reporting --> Financial Reports

Further inquiry note:
Austrian Post
Mr. Harald Hagenauer
Head of Investor Relations & Corporate Governance
Tel.: +43 (0) 57767 30400
harald.hagenauer@post.at

Austrian Post
Mrs. Ingeborg Gratzer
Head of Media Relations & Internal Communications
Tel.: +43 (0) 57767 24730
ingeborg.gratzer@post.at

end of announcement euro adhoc
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issuer: Österreichische Post AG
Haidingergasse 1
A-1030 Wien
phone: +43 (0)57767-0
mail: investor@post.at
WWW: www.post.at
sector: Transport
ISIN: AT0000APOST4
indexes: ATX Prime, ATX
stockmarkets: official market: Wien
language: English