bpost: investors rush to letterbox after Q4 beats estimates

(CercleFinance.com) - The bpost share has risen by around 10% in Brussels today, with investors buying the share after the latest quarterly results published by the Belgian postal operator, which came in above market expectations.


The group's Q4 adjusted EBIT reached 88.1 million euros, up 45.7% y-o-y.

Total revenues amounted to 1,299.7 million euros, up 8.8% compared to Q4 2020.

In parcels, however, operating revenue fell by 9.4% to 286.7 million euros, a decline that bpost explains by a high comparison basis and by the recent internalisation of shipments decided by Amazon.

For 2022, bpost says it expects adjusted EBIT of 280 to 310 million euros, with revenues expected to grow at a mid-to-high single-digit percentage rate compared to 2021.

In a reaction note, UBS analysts this morning welcomed the "strong performance" recorded by the group in North America, thanks in particular to its subsidiary Radial, even though the outlook was in line with expectations.

Despite today's flurry, the share is still down by nearly 20% YTD.


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