bpost: first quarter 2019 results

Thursday 2 May 2019

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

Results