bpost: first quarter 2016 results

First quarter 2016 highlights

• Operating income (revenues) at EUR 604.5m (-2.0%) driven by resilient Domestic Mail performance and Parcels growth offset by anticipated lower SGEI compensation.
• Improved Domestic Mail underlying volume trend at -4.0% (-5.0% for FY15) driven by Advertising Mail.
• Outstanding Domestic Parcels performance with volume up +14.6% (+12.6% for FY15), driven by e-commerce and C2C. Price/mix effect of -4.6%, fully mix related. 
• Slow-down of International Parcels (up EUR 0.5m), mainly due to flows from US which are hampered by strong USD. Continued growth to and from China.
• Additional Sources of Revenues mainly affected by the curtailment of international mail in part compensated by continued growth in solutions.
• Cost savings (EUR -15.2m) on track and delivered on all cost items. Average underlying FTE reduction of 734 for the quarter (excluding 379 additional FTEs and interims for higher parcels and solutions volumes, Deltamedia integration, new subsidiaries and absorption of holidays).
• EBITDA up EUR 3.2m at EUR 175.9m thereby fully absorbing the reduced SGEI compensation.
• Net profit of bpost SA/NV under BGAAP up € 2.6m at EUR 90.0m.
• Outlook maintained