bpost: Q3 results better than expected

(CercleFinance.com) - On Thursday evening bpost group announced that its performance had exceeded its own expectations in Q3, despite the business conditions that it deemed as still unfavourable.


The Belgian postal operator reported that the resilience of its business in Belgium, underpinned by high parcel volumes, and its improved performance in Eurasia more than offset the pressure on revenues in North America.

The Group's total Q3 revenues came to E978.5m, down 4.2% y-o-y, while adjusted Ebit rose to E28.1m, compared with E26m a year ago.

Following the update of its compliance reviews, bpost is now in a position to re-establish its profit forecasts, and is aiming to generate adjusted Ebit of over E240m this year.

All these announcements were welcomed, although not over-enthusiastically, on Friday by the Brussels Stock Exchange, where its share was up 1.8% in late morning trading.


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