bpost reports a strong fourth quarter 2014

Fourth quarter 2014 highlights

• Operating income (revenues) up 2.2% to reach EUR 655.3m (+1.7% organically), partially helped by higher building sales (EUR +3.8m). For 2014, revenues came in at EUR 2,464.7m (+1.1% organically).
• Underlying Domestic Mail volume decline better than 3 previous quarters, despite continuing e-substitution. Underlying decline at -3.7% and reported decline at -3.1% (incl. 1 more working day). Full year underlying domestic mail volume decline came in at -4.4%.
• Domestic parcels volume up 7.1% (+7.0% for the full year) helped by a particularly strong Christmas season (+15.6% in December). Fourth quarter revenue growth of +4.9% impacted by a negative mix effect of 2.2% for the first time.
• Continuing growth in international parcels (EUR +10.9m), in line with the third quarter, while shipments to China slowed down.
• Costs (excluding one-offs, phasing and transport) down EUR 9.9m organically. Workforce reduced with 664 FTE for the quarter bringing the full year average decrease to 974 FTE.
• EBITDA up EUR 9.5m or +7.8%, with margin improving to 20% (from 19% in 4Q13).
• Net profit of bpost S.A./N.V. (BGAAP) for the full year came in at EUR 296.9m.
• Proposed total dividend of EUR 1.26 gross per share based on 2014 results, composed of an interim dividend of EUR 1.04 (paid in December 2014) and a final proposed dividend of EUR 0.22, subject to the approval of shareholders.