Post boss says goodbye with a record year and increased dividend
Farewell gift for shareholders: After a record year, the outgoing Post boss Frank Appel is increasing the dividend for 2022 and expanding the ongoing share buyback program. For the past year, the Bonn-based group 1.85 (previous year: 1.80) euros per share put on the table, he announced on Thursday. The existing share buyback program will be increased by one billion euros. The total volume is now up to three billion euros.
In the current year, however, Swiss Post has had to pay the price of rising prices and depressed consumer sentiment. Due to the continuing uncertainty about the course of the economic recovery, the EBIT forecast for 2023 three scenarios and lie in one Range from 6.0 to 7.0 billion euros, the group further announced. In addition, the collective bargaining conflict with the Verdi union could further intensify. The Federal Ministry of Economics is also working on a new postal law that could bring far-reaching changes for the Bonn-based group in Germany. In the year 2025 should he operating income (EBIT) then back to more than eight billion euros climb.
Last year, Swiss Post still benefited from the parcel boom and increased freight rates. The Earnings before interest and taxes (EBIT) increased to 8.4 (previous year: eight) billion euros. The Sales volume of the logistics group climbed by 15.5 percent over the year as a whole 94.4 billion euros.
Post boss Appel, who has been in office since February 2008, will soon be leaving the company. At the Annual General Meeting on May 4th, he will hand over his office to Post Board Member Tobias Meyer.