- 6 May 2021
- Transport / Logistics Services
Belgian bpost group operating income grew by 9.1% in the first financial quarter with all segments showing positive growth.
Adjusted operating profit grew almost a third to €115.5 million compared to Q1 2020, and operating income grew to €1.12 billion. Highlights included Parcels & Logistics Europe and Asia saw operating income grow by 34.8% to €287.8 million and operating profit rocketed by 121.2% to €37.3 million.
Mail volumes did decline by 7.2% but the Mail & Retail segment saw profits grow by 8.4% to €70.2 million.
Dirk Tirez, Chief Executive Officer a.i. of bpost group commented on the results: “Our 36,000 employees can be proud of the group’s achievements in this first quarter as bpost continues to progress at pace on its transformation journey as a sustainable postal and omni-commerce logistic company. A resilient mail market combined with a strong e-commerce activity during this first quarter allows bpost to deliver results above expectations with strong improvements compared to last year’s pre-pandemic Q1. This puts the group in a position to upgrade its full year guidance which is to deliver “above EUR 310m” EBIT.
The management team focuses on clear priorities to enable high transformation momentum and deliver results. At the shareholder’s meeting on May 12, the Board governance will be strengthened.”