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    POST   AT0000APOST4

OSTERREICHISCHE POST AG

(POST)
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Osterreichische Post : German logistics firm Trans-o-Flex plans 2021 IPO -sources

06/23/2021 | 12:43pm EDT

FRANKFURT, June 23 (Reuters) - Trans-o-Flex is preparing to list on the Frankfurt stock exchange as early as September in a deal that could value the German logistics firm at roughly 1 billion euros ($1.2 billion), people close to the matter said.

The company is working with JPMorgan on the initial public offering that could see stock worth 300 million euros sold, three sources said.

"In order to finance our further growth, we are continuously evaluating possible financing options, including an IPO," a company spokesperson said.

JPMorgan declined to comment.

Benefiting from a general online shopping trend in the COVID-19 pandemic that boosted the business of most logistics firms, Trans-o-Flex last year saw sales increase by 4% to 515 million euros.

Trans-o-Flex - shorthand for Transportorganisation von besonderer Flexibilität or transport group with special flexibility - was founded in 1971 by five logistics entrepreneurs.

The Weinheim, Germany-based company specialises in transport services for the pharmaceutical, cosmetics and consumer electronic industries.

After being bought by conglomerate Haniel in 1985 and then by investors Schoeller and Amberger in 1995, Deutsche Post attempted a takeover, which was blocked by antitrust authorities in 1999.

Following years of ownership by private equity firm Odewald and then Oesterreichische Post, Schoeller and Amberger bought it back in 2016.

After a restructuring, Trans-o-Flex announced in 2019 that it had turned its first profit in 10 years. It later said that it has been profitable since. ($1 = 0.8373 euros) (Reporting by Arno Schuetze; Editing by Lisa Shumaker)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
DEUTSCHE POST AG 0.42% 57.35 Delayed Quote.41.01%
OSTERREICHISCHE POST AG 0.11% 44.55 Delayed Quote.55.05%
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Financials
Sales 2021 2 516 M 2 988 M 2 988 M
Net income 2021 158 M 187 M 187 M
Net Debt 2021 127 M 150 M 150 M
P/E ratio 2021 19,1x
Yield 2021 4,74%
Capitalization 3 006 M 3 573 M 3 570 M
EV / Sales 2021 1,24x
EV / Sales 2022 1,24x
Nbr of Employees 27 541
Free-Float 47,2%
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Mean consensus HOLD
Number of Analysts 6
Last Close Price 44,50 €
Average target price 35,12 €
Spread / Average Target -21,1%
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Managers and Directors
Georg P÷lzl Chairman-Management Board & CEO
Edith Hlawati Chairman-Supervisory Board
Chris E. Muntwyler Independent Member-Supervisory Board
Peter E. Kruse Independent Member-Supervisory Board
Herta Stockbauer Independent Member-Supervisory Board
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