The following is excerpted from the question-and-answer section of the transcript.
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Question: Andre F. M. Mulder - Kepler Cheuvreux, Research Division - Analyst
: A couple of questions. I could not understand what your answer was to the expected start-up costs for the bank for the full year. And maybe you
can also repeat in which year you see the breakeven happening for the bank? Then on Aras, you're now the majority. Anything that you would like
to change in that company?
Second question to that, do you have the numbers for the first half, either the rise in sales in euros or in the Turkish pound?
And last and possibly the $1,000 question. On dividend, it's very likely that your profits will go down, let's say, to maybe EUR 1, EUR 1.30 per share
or so. Would you be prepared to pay more than 100% of your profits, also looking at your financial ratios. Or would that really stop there?
Walter Oblin - +sterreichische Post AG - CFO and Deputy Chairman of the Management Board and Deputy CEO of Mail & Finance
Well, thanks, Andre, for your questions. I think the first on the bank loss, I can only repeat our expectation at this point in time is around EUR 40
million ramp-up loss this year. Meanwhile, the second half should do much better than the first half. Also given some one-offs in the first half and
also in the second half, the breakeven we target was 2023. And of course, the target is in the years when we do make substantial steps in reducing
ramp-up loss which leads to breakeven in 2023.
On Aras, I think I ask you for your understanding that before we close this transaction that we are not in a position to provide details about the
financial development, but I think there has been a very good financial development of the company both revenue-wise as well as profit-wise. And
we are really optimistic about the strong position Aras Kargo has in the Turkish parcel market about the performance that the company will take,
in particular in the last 18 months.
And on dividend, I ask also for your understanding that at this point in time, we are not able to give any guidance on the details of our dividend
payment, but I think the development in the past where we had a formal dividend policy of paying out 75 -- at least 75% of net earnings and reality
paid out close to 100% of net earnings should be a good indication for that could happen or what could be management's proposal for 2020.
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AUGUST 07, 2020 / 1:00PM, POST.VI - Q2 2020 Oesterreichische Post AG Earnings Call
Question: Andre F. M. Mulder - Kepler Cheuvreux, Research Division - Analyst
: And coming back to your forecast, you said the other parts ex the bank would be earning at least EUR 160 million. You're now saying EUR 40 million
for the bank. What kept you from just saying that the EBIT will be at least EUR 120 million for the whole of the group?
Walter Oblin - +sterreichische Post AG - CFO and Deputy Chairman of the Management Board and Deputy CEO of Mail & Finance
Well, there is another variable that is also, I think, mentioned in the outlook, which is Aras Kargo, where we are currently -- I'm clear about the timing
of the closing, which also could have a positive effect, but I agree with you it's been a quite simple -- it's quite simple mathematics, yes.
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