bpost has recorded strong results for 2012

Year on year, bpost's turnover rose by 2.2% to € 2,416 million. EBITDA and EBIT amounted to € 502 million and € 404 million respectively, an increase of 11.6 % and 12.7%. These figures confirm the growth in operating income recorded over recent years.

The improvement of profitability was achieved in spite of a decrease in volume of approximately 3,5% in the domestic mail business as the continued economic crisis and the electronic substitution affected postal volumes.  This decrease in volume and the inflation of costs, in particular personnel costs, were more than compensated by (i) the growth of turnover of the non domestic mail activities, in particular in banking and financial services, parcels and international mail; (ii) price increases broadly in line with inflation in domestic mail; (iii) continuous productivity improvements. The higher profitability demonstrates that bpost has the tools and discipline in place to absorb mail volume declines higher than the 1% to 2% recorded for the last years.

2012 was an eventful year in which the company faced a number of challenges. In addition to the stronger decline in mail volume, bpost had to deal with the European Commission''s order to repay € 301 million (net) to the Belgian state (a sum already recognised in the 2011 income statement) and the ruling by the Belgian Competition Council resulting in a fine of € 37.4 million. bpost has implemented the ruling but has lodged an appeal, encouraged by the fact that similar models are used by other European operators.

Improving customer satisfaction and loyalty remained a priority in 2012. The results were encouraging, and the Customer First programme continues to be a focus for bpost in 2013 and beyond.

Developing our growth opportunities was another priority. For instance, early 2012 saw the launch of "bpaid", a prepaid payment card offered in all Belgian post offices. It combines the advantages of cash with the simplicity of a payment card accepted worldwide and online. The initiative has been a success. By the end of 2012 around 100,000 bpaid cards had been sold.

In 2012 pilots were also launched for the strategic "bpost by appointment" project. Customers in four municipalities can use bpost for the consolidated delivery of food shopping and online purchases to their home. Other pilots will follow in 2013.

At the end of 2012, bpost management and workers unions reached an agreement on some social matters that are particularly relevant for workers satisfaction, such as profit sharing and the possibility for older postmen to work half time.

In an internal announcement to all employees, Johnny Thijs today said: "In tough times, bpost has been able to maintain the positive trend of its results. That is an achievement and encouraging for the future. I would therefore like to warmly thank all employees for their commitment. bpost is financially healthy and is now among Europe's best postal operators."