bpost: first quarter 2019 results

First quarter 2019 highlights

• 1Q19 in line with expectations, on track for 2019 outlook
• Group operating income at EUR 906.8m (-1.1%)
• Group normalized EBIT at EUR 95.8m, representing an EBIT margin of 10.6%
• Mail & Retail
  • Total operating income at € 527.5m (-1.8%) driven by vigorous mail volume decline
  • Underlying mail volume decline at -9.2% mainly driven by Transactional and Press
  • Normalized EBIT at EUR 92.6m (17.6% EBIT margin) mainly impacted by mail volume decline and wage drift
• Parcels & Logistics Europe & Asia
  • Total operating income at € 196.8m (+8.0%) driven by Parcel BeNe up 11.1%
  • Parcel BeNe volume growth at +16.9% driven by e-commerce
  • Normalized EBIT at EUR 18.0m (9.1% EBIT margin): solid margin improvement with volume growth only partly offset by higher costs
• Parcels & Logistics North America
  • As anticipated, total operating income at € 228.5m (-5.2%) mainly impacted by Radial customer churn and repricing
  • Normalized EBIT at EUR -7.8m (-3.4% EBIT margin) mainly impacted by client churn & repricing in line with expectations