bpost: 2018 to be 'another challenging year'
(CercleFinance.com) - Belgian postal operator bpost unveiled results that exceeded analysts' expectations, although warned that its performance was impacted by increased e-substitution in marketing mail, heavy costs related to a new sorting facility in Brussels, and higher expenses during the peak end-of-year period.
Overall, fourth-quarter EBITDA reached 151.1 million euros, up from 141.5 million euros last year and above a company-compiled consensus of 11 analysts, which on average expected 147.2 million euros.
Total operating income (revenues) grew to 955.1 million euros in the last quarter of 2017, up from 690.7 million euros a year ago, versus a consensus of 880.3 million euros.
In the statement, Koen Van Gerven, bpost's CEO, said 2018 will be another "challenging year," although the group remains confident in its strategy.
bpost expects EBITDA of between 560 million to 600 million euros in 2018, compared with 598 million euros in 2017, and said that its dividend this year will be at the same level as it was the previous year.
This prospect did not seem to please investors, with the stock currently collapsing 18% to under 22,9 euros on Euronext Brussels.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Overall, fourth-quarter EBITDA reached 151.1 million euros, up from 141.5 million euros last year and above a company-compiled consensus of 11 analysts, which on average expected 147.2 million euros.
Total operating income (revenues) grew to 955.1 million euros in the last quarter of 2017, up from 690.7 million euros a year ago, versus a consensus of 880.3 million euros.
In the statement, Koen Van Gerven, bpost's CEO, said 2018 will be another "challenging year," although the group remains confident in its strategy.
bpost expects EBITDA of between 560 million to 600 million euros in 2018, compared with 598 million euros in 2017, and said that its dividend this year will be at the same level as it was the previous year.
This prospect did not seem to please investors, with the stock currently collapsing 18% to under 22,9 euros on Euronext Brussels.
Copyright (c) 2018 CercleFinance.com. All rights reserved.