bpost: third quarter 2016 results

Third quarter 2016 highlights

• Operating income (revenues) at EUR 538.1m, down 2.3%, driven by solid growth in Parcels revenues offset by the anticipated lower SGEI compensation and Domestic Mail.
• Underlying Domestic Mail volume decline at -5.9% (-4.7 % for 3Q15). Continued strong performance in advertising offset by transactional mail and press.
• Continued double-digit domestic Parcels volume growth of +12.7% (+13.5% for 3Q15) driven by growth in e-commerce and C2C. Improved price/mix effect of -1.8%.
• International Parcels up EUR 4.1m, supported by positive contribution from acquisitions but continued volume loss to China.
• Additional Sources of Revenues driven by Value Added Services.
• Cost savings on track with normalized costs down EUR 8.5m, fully absorbing salary indexation and new CLA. Underlying productivity improvements of 604 FTE (average reduction).
• Excluding SGEI, normalized EBITDA up EUR 2.9m at EUR 110.1m demonstrating that our operating model continues to work.
• Normalized net profit of bpost SA/NV under BGAAP down only EUR 0.8m at EUR 50.5m.
• Outlook for 2016 reconfirmed: on track and confident to deliver our full year guidance.