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20. 05. 10. - 12:00

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20. 05. 10. - 12:00

Post AG receive red figures delivery

Post AG bosses said increasing competition by private mail delivery firms and the internet as the main rival for sending a letter led to a decline in earnings in the first quarter of this year.

Officials at Austria’s postal service announced today (Thurs) earnings before interest and taxes (Ebit) dropped by 5.1 per cent to 45.3 million Euros year on year. Turnover plunged by 1.6 per cent to 585.6 million Euros, they added.

Post AG, which is headed by former T-Mobile Gerhard Pölzl, has been in the news for shutting down hundreds of offices over the past few months as part of a vast cost-cutting regime. Dozens of small shops across the country have been turned into "Post Partners" as people can now post and pick up mail there.

It was also announced today that the number of full-time Post AG staff declined in the first three months of 2010 compared to the same time span of last year by 3.5 per cent to 25,100 employees.

Referring to a decline in turnover and earnings, a spokesman for the firm said: "The market situation in Austria was difficult in the first quarter of 2010."

He added more people than ever using the internet instead of sending letters have had an impact on its business figures, adding that the increasing number of private postal service rivals meant a tougher market situation.

Austrian Times

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