bpost operating income up by a third

Belgium’s bpost has reported a second quarter (Q2) operating income of €928.4m, which was up 32.7% on last year.

In a statement issued yesterday (8 August), bpost attributed the increase to “acquisitions and excellent Parcels growth”.

While mail volumes were down, the drop was less than it had been in Q2 2017.

The Domestic Parcels business reported organic volume growth of 25.8%, which was on a par with last year and in line with guidance. bpost said that the performance was “driven by strong e-commerce growth and continued positive trend in C2C”.

Revenue for International Parcels was up €4.3m, driven by higher revenues from the US and Europe.

The company’s EBITDA was lower at €140.4m, but bpost said that this was “impacted by higher organic costs” and was inline with expectations.