Osterreichische Post Ag · VIE:POST
Osterreichische Post — Austrian Post — Merger or Acquisition (October 2006)
21 slides from Osterreichische Post's merger presentation, Oct 30, 2006
Slide 1: Acquisition of trans-o-flex
Acquisition of trans-o-flex 30-October-2006
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements, based on the currently held beliefs and assumptions of the management of Austrian Post, which are expressed in good faith and, in their opinion, reasonable. These statements may be identified by words such as “expectation” or “target”
Slide 3: Overview of trans-o-flex
Overview of trans-o-flex Strategic Aspects of Transaction Transaction Structure and Timeline Financial Impact 30 October 2006 Acquisition of trans-o-flex 3
Slide 4: trans-o-flex is one of the leading specialized logistics service providers within the B2B segment
trans-o-flex is one of the leading specialized logistics service providers within the B2B segment in Germany Logistics network with 39 delivery centers covering the entire German market Attractive business model with combined freight (parcels and pallets) and recipient-oriented aggregation of sh
Slide 5: trans-o-flex operates a Germany-wide logistics network
trans-o-flex operates a Germany-wide logistics network Clearly defined and highly flexible network structure Rostock with multi-functional locations Neumünster trans-o-flex network Hamburg 39 delivery centers (delivery) Bremen thereof Osnabrück Hannover 19 „full-service centers“ (delivery, collectio
Slide 6: Unique competitive positioning of trans-o-flex
Unique competitive positioning of trans-o-flex trans-o-flex offers individual solutions in its core segments and thereby differentiates itself from its competitors. Recently acquired thermomed supplements trans-o-flex’ special services Specialists thermomed transmed UPS / trans-o-flex UNIDATA FedEx
Slide 7: trans-o-flex has a successful industry niche focus
trans-o-flex has a successful industry niche focus Strong focus on Life Sciences, Consumer Electronics/Home Entertainment and Lifestyle/Cosmetics Life Sciences Lifestyle / Cosmetics • Pharma • Pharmacy cosmetics • Dental • Perfumes • Radio pharmaceuticals • Skin care • Diagnostics • Hair care produc
Slide 8: Blue-chip customer base
Blue-chip customer base trans-o-flex has long-lasting relationships with blue-chip customers Consumer Electronics/ Life Style/ Life Sciences Other Home Entertainment Cosmetics Sales by business area (2005) 55% 23% 13% 9% 30 October 2006 Acquisition of trans-o-flex 8
Slide 9: Strategic Aspects of Transaction
Overview of trans-o-flex Strategic Aspects of Transaction Transaction Structure and Timeline Financial Impact 30 October 2006 Acquisition of trans-o-flex 9
Slide 10: Strategic aspects of transaction
Strategic aspects of transaction Strengths = Benefits One of the leading logistics service providers for B2B express delivery in Germany Strengthen positioning of Significant “know-how” in handling combined freight and one of the 1. Parcel & Logistics Division leading service provider for all co
Slide 11: trans-o-flex will further strengthen Austrian Post's Parcel & Logistics Division
trans-o-flex will further strengthen Austrian Post’s Parcel & Logistics Division Mail Parcel & Logistics Branch Network Pro-forma Group1 Sales Split Branch Network 9% Parcel & Logistics 31% Letter Parcels Postal services Mail 60% Direct mail Express deliveries Financial and insurance pro
Slide 12: Attractive business model characterized by combined freight and recipient-oriented consolidation
Attractive business model characterized by com- bined freight and recipient-oriented consolidation of shipments Strong USP with respect to competitors „Easy-pickup“ trans-o-flex as supplier of combined freight in Germany – Combined servicing of parcel (to 30 kg) Temperature-controlled radio pharma
Slide 13: The transaction enlarges Austrian Post's economic footprint
The transaction enlarges Austrian Post’s economic footprint Austrian Post will operate in a combined market with a total population of approx. 110m people Germany Leading market position in combined freight and Slovakia B2B express delivery for #2 in parcels Life Sciences #2 in unaddressed dir
Slide 14: trans-o-flex is establishing the European network EURODIS
trans-o-flex is establishing the European network EURODIS EURODIS is a European network of independent logistics companies which jointly provide distribution services within Europe EURODIS was founded by trans-o-flex The main tasks of EURODIS are clearing, track and trace, managing European te
Slide 15: Transaction Structure and Timeline
Overview of trans-o-flex Strategic Aspects of Transaction Transaction Structure and Timeline Financial Impact 30 October 2006 Acquisition of trans-o-flex 15
Slide 16: Transaction structure
Transaction structure Enterprise Value of €225m as of 30-June-2006 (purchase price equals enterprise value less net financial debt) Two-step transaction: – 1st Tranche: 74.9% stake acquired with closing expected in Dec-2006 – 2nd Tranche: Option to acquire remaining 25.1% at the latest in 2009
Slide 17: Expected timeline for the transaction
Expected timeline for the transaction Until Dec-2006 In Dec-2006 2008/2009 Closing: Potential Execution of Transfer of 74.9% options: Announcement of the stake transaction (30-Oct-2006) Put option for seller Payment of purchase in June 2008 Application for approval by price (74.9%) ant
Slide 18: Financial Impact
Overview of trans-o-flex Strategic Aspects of Transaction Transaction Structure and Timeline Financial Impact 30 October 2006 Acquisition of trans-o-flex 18
Slide 19: Positive financial impact
Positive financial impact July 2005 to June 20061 Pro-forma 2,187 1,727 Sales 460 Margin 13.8% 5.9% 12.2% 239 267 EBITDA 27 Austrian Post does not expect any changes to its stated dividend policy as a consequence of the transaction. (1) Austrian Post figures based on IFRS; trans-o-flex figures based
Slide 20: trans-o-flex matches all of Austrian Post's stringent acquisition criteria
trans-o-flex matches all of Austrian Post’s stringent acquisition criteria Geographic expansion in European countries with a focus on neighbouring 3 CEE markets or Strategic Functional expansion into related service areas to expand existing postal services platform 3 Private company 3 Top ma
Slide 21: Acquisition of trans-o-flex
Acquisition of trans-o-flex 30-October-2006