bpost: stock in a spin after results

(CercleFinance.com) - The Belgian postal group bpost reported lower-than-expected quarterly results on Tuesday evening, which has resulted in the stock falling heavily on Wednesday on Euronext Brussels.


Over the last three months of the year, the operator's total operating income reached 1.19 billion euros, up 7.2% y-o-y.

The group's adjusted operating profit (EBIT) for October-December reached 60.5 million euros, well below the consensus of around 75 million euros.

For FY 2021, bpost said it expects adjusted EBIT of 265 to 295 million euros, once again below the consensus.

Following these disappointing results and cautious outlook, bpost shares had plummeted 19% at around 12.15pm on the Brussels Stock Exchange.

Although the share price has fallen by 5% YTD, it is still up 18.5% from 12 months ago.


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