bpost: second quarter 2019 results

Second quarter 2019 highlights

  • 2Q19 in line with expectations, on track for 2019 outlook
  • Group operating income at EUR 935.7m (+0.8%)
  • Group reported EBIT at EUR 101.8m. Normalized EBIT at EUR 107.5m (margin of 11.5%)
  • Mail & Retail
    • Total operating income at EUR 521.4m (-1.8%) driven by vigorous underlying mail volume decline partly compensated by elections and pricing.
    • Underlying mail volume decline at -9.4% driven by Transactional mail due to tougher comparables and e-substitution trend.
    • Reported EBIT at EUR 73.7m. Normalized EBIT at EUR 74.8m (14.4% margin) mainly impacted by mail volume decline and wage drift.
  • Parcels & Logistics Europe & Asia
    • Total operating income at EUR 201.4m (+5.6%) driven by Parcel BeNe up 11.8% and terminal dues settlements in Cross-border.
    • Parcel BeNe volume growth at +17.7% driven by e-commerce.
    • Reported EBIT at EUR 22.3m. Normalized EBIT at EUR 23.6m (11.7% margin): solid EBIT margin improvement thanks to phasing of settlements on terminal dues and back-end loading of costs towards 2H.
  • Parcels & Logistics North America
    • As anticipated, total operating income at EUR 239.0m (-4.7%) impacted by Radial customer churn and repricing.
    • Good commercial development with Total Contract Value above full-year target.
    • Reported EBIT at EUR -3.8m, normalized EBIT at EUR -0.5m (-0.2% margin) mainly impacted by client churn & repricing, in line with expectations.
  • S&P reaffirms the long- and short-term credit rating at its current level of A/A-1, outlook stable
About bpost

About bpostgroup 

bpost is Belgium’s leading postal operator and a growing parcel & omni-commerce logistics partner in Europe, North-America and Asia. Our 36,000 employees in Belgium and across the globe connect consumers, businesses and government, by delivering mail and parcels to millions of doorsteps and providing e-commerce logistics services. As a people- and planet-friendly company we create long-term sustainable value for our customers and shareholders. In 2021 bpost generated a turnover of EUR 4,333.7 million.

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