FP discontinues project to introduce a standardised ERP/CRM system

Berlin, September 13, 2024 Francotyp-Postalia Holding AG has finally decided to discontinue the project to introduce a globally standardised ERP/CRM system. This decision is based on the results of an evaluation by external IT experts, which showed that despite considerable expenditure of around 23 million euros already incurred for two projects over the last six years, no benefit can be achieved that would justify continuation and further costs.

The project was characterised by massive challenges: high external costs as well as a considerable commitment of internal resources. The total costs of the project amounted to around 15 million euros over the last three years, of which 9.6 million euros were external expenses. In contrast to a previous project, for which a sum of more than 8 million euros was also already spent, this time there is no need for amortisation as there was no asset recognition of costs. The originally planned time frame for the current project, which envisaged completion by Q2 2022, was significantly exceeded.

The original intention of simplifying and harmonizing processes across different business areas through a unified ERP/CRM system, as well as achieving associated cost savings, was deemed unfeasible during the current comprehensive review without further millions to be invested. The business areas differ greatly, meaning that optimisation of the ERP systems within the respective divisions appears to make much more sense.

The decision-making processes that led to this project are currently being clarified in an audit project. Meanwhile, the FP team is working on smaller projects aimed at resource-efficient optimization of the process and IT landscape, in order to further advance the necessary transformation of the FP Group.

For Investor Relations inquiries, please contact:
Dr. Monika Plum
Phone: +49 (0)30 220 660 410
E-Mail: ir@francotyp.com

About Francotyp-Postalia:

Francotyp-Postalia Holding AG, a listed company based in Berlin, is the holding company of the globally active FP Group (FP). FP is an expert in solutions that make office and working life easier and more efficient. FP has the following business divisions: Digital Business Solutions, Mailing, Shipping & Office Solutions and Mail Services. In the Digital Business Solutions division, FP optimizes customers' business processes and offers solutions such as electronic signatures, hybrid mail, input/output management for physical and digital documents and data-driven automation of complex business processes. In the Mailing, Shipping & Office Solutions division, FP is the world's third-largest provider of mailing systems and the market leader in Germany, Austria, Scandinavia and Italy. FP is represented in 15 countries with its own subsidiaries and in many other countries via a dealer network. In the Mail Services division, FP offers the consolidation of business mail and is one of the leading providers in Germany. In 2023, FP generated revenue of more than EUR 240 million.