bpost reports strong parcel performance but drop in mail volumes
bpost has reported that its first quarter revenues were down 1.6% at EUR 616.6 million. In line with the general industry trend, bpost saw a “strong performance” in its parcels business – with “solid” growth in the international business and its domestic parcel volumes up 10.2% on the back of “excellent growth from e-tailers and good performance in C2C” – but a 5.3% drop in domestic mail volume.
Net profit was “stable versus last year” at EUR 87.3million.
Koen Van Gerven, CEO of bpost, commented: “I am very pleased with the strong performance in parcels and the excellent results we delivered on our cost savings plans over the first quarter. Both effects allowed us to fully absorb the reduction in compensation received from the Belgian State for SGEI and led to a stable EBITDA for the quarter, despite the sharper decline of the domestic mail volumes.
“This quarter’s performance has proven once again that our strategy is bearing fruits and that bpost is well prepared to face the headwinds in 2015. This is in line with our outlook for the year and we re-iterate it.”
Pierre Winand, CFO and member of the Executive Committee since 2006, will be leaving bpost as from 1st July.
The Remuneration and Nomination Committee launched the process for his replacement. As an interim measure, starting 1 st July, Van Gerven will take up the CFO tasks and responsibilities until Winand’s successor is in place.
