Belgian Post improves profits in 2007
Belgian Post has announced a significant improvement in its profits for 2007 thanks to higher revenues, better mail quality and successful modernisation of its operations.
According to provisional figures, the company’s turnover increased by 1.9pct to EUR 2.2 billion, which represents a 3pct organic increase taking the sale of French subsidiary Asterion in September 2007 into account. The structural drop in volumes in 2007 was limited to 0.1pct, while successes included an increased market share in direct mail and international mail. On the other hand, La Poste was forced to terminate its PubliPack pilot scheme for unaddressed mail in the second half of the year due to inadequate margins.
Belgian Post said that although its operating profit (Ebitda) dropped by 17pct from EUR 229 million last year, this was largely due to non-recurring costs. The underlying operating profit rose by 10pct, and the net profit showed a similar trend. The fully audited consolidated results will be submitted to the Board and shareholders for approval in mid-April.
CEO Johnny Thijs stressed that the group had succeeded in implementing a considerable number of change and modernisation projects in 2007. “La Poste is keeping to the schedule set for its preparation for full liberalisation of the postal market in 2011,” he commented. Among the main achievements, Belgian Post improved mail delivery quality to 92.4pct next-day delivery, and continued the post office network restructuring with the closure of 250 full post offices and opening of 267 PostPoint agencies.
In 2008, Belgian Post will focus on several major projects, including the launch of a new parcels and express service, further post office network restructuring and a continued mail reorganisation.
Belgian Post has announced a significant improvement in its profits for 2007 thanks to higher revenues, better mail quality and successful modernisation of its operations.
According to provisional figures, the company’s turnover increased by 1.9pct to EUR 2.2 billion, which represents a 3pct organic increase taking the sale of French subsidiary Asterion in September 2007 into account. The structural drop in volumes in 2007 was limited to 0.1pct, while successes included an increased market share in direct mail and international mail. On the other hand, La Poste was forced to terminate its PubliPack pilot scheme for unaddressed mail in the second half of the year due to inadequate margins.
Belgian Post said that although its operating profit (Ebitda) dropped by 17pct from EUR 229 million last year, this was largely due to non-recurring costs. The underlying operating profit rose by 10pct, and the net profit showed a similar trend. The fully audited consolidated results will be submitted to the Board and shareholders for approval in mid-April.
CEO Johnny Thijs stressed that the group had succeeded in implementing a considerable number of change and modernisation projects in 2007. “La Poste is keeping to the schedule set for its preparation for full liberalisation of the postal market in 2011,” he commented. Among the main achievements, Belgian Post improved mail delivery quality to 92.4pct next-day delivery, and continued the post office network restructuring with the closure of 250 full post offices and opening of 267 PostPoint agencies.
In 2008, Belgian Post will focus on several major projects, including the launch of a new parcels and express service, further post office network restructuring and a continued mail reorganisation.
