Bpost: share rises after reassuring results

(CercleFinance.com) - bpostgroup is up 6% in Brussels on Friday, after reporting 2023 results that are in line with expectations, in particular thanks to a successful Christmas season.


The Belgian postal group this morning announced adjusted EBIT of E248.5m last year, down 10% y-o-y, although ahead of its target of at least E240m.

Q4 total operating revenues fell by 6.5% to E1,217.2m, below the consensus of E1,247.5m.

However, adjusted Ebit for Q4 came to E74.1m (-3.7%), well above the consensus target of E67m.

Excluding revenues from press distribution activities, its operating income should remain stable this year compared with 2023.

Regarding its strategy, the operator acknowledges the need for a "large-scale transformation" in order to cope with the decline in its historical activities, which it considers still insufficiently offset by its recent diversification efforts.

However, bpost's ambition is to become a regional leader in the parcel logistics market, in Belgium as the leader in logistics for 'B2C' and 'B2B' parcels, and internationally as a major player in third-party logistics.


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