bpost Q4 sees slight fall in revenues

Belgian bpost Group has announced its fourth quarter (Q4) and full year 2019 results are in line with expectation.

Mail volumes continued to decline and domestic parcel volumes continue to grow. 

In Q4, Group operating income was €1.11 billion, a fall of 1.6% compared to Q4, 2018. Mail volume decline led the decline. Operating profit was €63.4 million.

Jean-Paul Van Avermaet, CEO of bpost Group, said: “Belgium is going through an unprecedented crisis. During this exceptional and difficult period, the presence of bpost close to the citizens takes on its full meaning. From the newspaper delivered every morning to the payment of pensions, the services provided at our counters up to the card or the letter carried to isolated people: each mission that bpost carries out creates links between people and breaks the isolation of the most vulnerable. Today, these missions are vital.”

“Many measures have been put in place to guarantee the health of our employees and our customers, which must be the first priority for each of us.”“Solidarity flows through the veins of bpost and its employees. The results that we are presenting today are those of our thousands of employees who, yesterday as today and tomorrow, get up every morning to provide exceptional service to all citizens. It’s with great pride that I am now part of the bpost family.”

François Cornelis, Chairman of the Board of Directors, commented: “2019 results are fully in line with expectations. bpost Group has delivered on its promises with full-year adjusted EBIT above EUR 300 million, at EUR 310.8 million. The contributions by business unit are also as anticipated. It was a challenging year characterised by pressure on our traditional mail business and the turnaround process at our North American activities, while our domestic parcels volumes continued to grow significantly.

“Delivery on results was achieved thanks to the daily effort and enthusiasm of our employees, who adapt to these challenges and turn them into success.

“I also want to thank Koen Van Gerven who ended his mandate at the end of February for having laid the foundations of a significant transformation for bpost Group. I wish him all the best in his future projects. I welcome Jean-Paul Van Avermaet at bpost Group who has started on March 2nd as Group CEO. With his experience and stakeholder management skills, he’s committed to write the next chapter of bpost Group.”

Jean-Paul Van Avermaet, CEO of bpost Group: “In a digitising world, with many other societal challenges, we can only be successful by focusing on future-proof customer services, engaged and empowered employees and healthy financial results. bpost Group is a beautiful company with a solid foundation of which every employee can be proud and this is what we want to remain in the future. Therefore we will continue to transform the company by investing in a culture of customer care and innovation while playing our important societal role close to our stakeholders.”