bpost second quarter performance “exceeds initial guidance”
Belgium’s bpost says that its Q2 results were “supported by resilient mail revenues, growth at Radial North America and the implementation of management actions to mitigate unfavourable macro-economic environment”.
The group reported an operating income of €1.035 billion, which was down only 0.2% year-on-year. The adjusted EBIT of €82.6 million, however, was down 22.5% y-o-y.
Parcels volumes decreased by 12.9% and there was an underlying mail volume decline of 7.5%, mitigated by positive mail price/mix impact.
Commenting on the results, bpost’s CEO Dirk Tirez said: “I would like to thank all my colleagues for delivering this second quarter results. There is a strong momentum across the group and the immediate actions taken by the management to counter the ongoing macro-economic pressures have been paying off in this quarter.
“Today, with one additional quarter behind us and with the results of these measures, we are now is a position to revise downwards the risk to our initial guidance from “up to 40 mEUR” to “up to 25 mEUR” despite continued market disruptions.
Tirez continued: “While stronger headwinds from inflation, salary indexations, transport and energy costs, and consumer confidence persist globally and still bring uncertainty for the following quarters, we continue to take measures at all levels in order to phase and mitigate these adverse impacts whilst positioning our business for success in the mid-term.”