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

bpost is Belgium’s leading postal operator and a parcel and e-commerce logistics provider in Europe, North-America and Asia. We deliver mail and parcels to millions of doorsteps and provide logistic services to businesses and consumers. With over 34,000 employees in Belgium and across the globe, bpost's total operating income amounts to 3,837.8 million EUR, while reducing our impact on the environment and the communities around us.

bpost
Centre Monnaie, 1000 Brussels