Aras Kargo

AUSTRIAN POST AQUIRES
25% STAKE IN LEADING
TURKISH PARCEL SERVICE
PROVIDER ARAS KARGO
Walter Oblin / CFO
Vienna, June 21, 2013
CONTEXT: STRATEGIC OBJECTIVES OF
AUSTRIAN POST
Market environment:
1. DEFENDING MARKET
LEADERSHIP IN THE
CORE BUSINESS
parcel and logistics
business in CEE
letter mail volume declining
by 3-5% per year but rising
domestic and international
parcel volumes
Business target:
moderate revenue increase
while achieving an EBITDA
margin of 10-12%
2. GROWTH IN
SELECTED MARKETS
3. ENHANCING
EFFICIENCY AND
FLEXIBILISATION OF
THE COST STRUCTURE
4. CUSTOMER
ORIENTATION AND
INNOVATION
2
EXPANSION OF STRATEGIC FOOTPRINT OF
AUSTRIAN POST
3
ONGOING GROWTH OF THE TURKISH PARCEL MARKET
Turkish parcel market (in EUR m)
Market shares 2012 (%)
+ 13% p.a.
1,042
Other
PTT
929
UPS
820
3%
6%
7%
31%
Yurtici
Sürat 9%
MNG
18%
26%
Aras Kargo
2011
2012
2013e
Source: KEP Research
4
GROWTH IN TURKEY DRIVEN BY RISING GDP AND
PENT-UP DEMAND IN THE PARCEL MARKET
Parcel markets in comparison (parcel revenue/inhabitant in EUR)
233
227
195
Large growth
potential of the
Turkish parcel
market
160
139
129
116
92
90
80
73
69
46
28
NO
SE
DK
FR
CH
NL
DE
UK
ES
IT
BE
AT
CZ
PL
11
8
TR
RU
Source: AT Kearny
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ARAS KARGO – FACTS & FIGURES
 Founded in 1979
 Transport volumes in 2012
 46m parcels
 32m documents
 Nationwide service with 2,600
vehicles
 800 shops across the country
 5,400 salaried employees
 Revenue in 2012
TRY 589m / EUR 250m
 Profitability:
EBITDA margin of >10%
6
ARAS KARGO – PROFITABLE GROWTH IN RECENT YEARS
Revenue (TRY m)
+ 16% p.a.
589
510
 B2B accounts for 75% of total
revenue (more than 5,000
business customers)
421
323
 Transport of parcels and
documents
353
 E-commerce growth +25% in
2011 + 2012
 Quality provider with outstanding
service level
 Well-known brand with a high
reputation
2008
2009
2010
2011
2012
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SHARED OBJECTIVES
Maintaining profitable growth path and increasing
market share
Know-how injection and
synergies
Strong market positioning
Market growth
 Positive basic
economic trend and
growth in parcel
volumes
 ARAS Kargo is the
pioneer for high quality,
innovative logistics
services
 Expansion on the basis of
an excellent market
position with high
customer satisfaction
 Logistics optimization
know-how provided by
Austrian Post
 Connection to Austrian
Post group parcel network
 Expansion of the product
portfolio on the basis of
Austrian Post know-how
8
AGREEMENTS RELATING TO ARAS KARGO
Agreement between Austrian Post and the current owners of ARAS Kargo (80% ARAS
family, 20% held by the publicly traded private equity company Is Private Equity)
Acquisition by Austrian Post of the 20% shareholding held by Is Private Equity and 5%
of the shares held by the founding ARAS family
Purchase price to be paid by Austrian Post for the 25% stake: TRY 125m
(about EUR 50m)
Agreement on a CALL option for Austrian Post to acquire an additional 50% of the
company‘s shares from the ARAS family in the year 2016 on the basis of business
results achieved in 2015/2016
Closing subject to approval of antitrust authorities
9
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