- 5 November 2020
- Transport / Logistics Services
Strong growth in parcels and logistics helped bpost on to revenue growth of 10.4% to €972.9 million in the third quarter (Q3) of the financial year. Operating profit grew by 81.5% to €65.1 million.
The Parcels & Logistics Europe & Asia and North America segment was driven by the explosive growth of e-commerce, contributing €38.5 million to overall profits.
Commenting on the results, Jean-Paul Van Avermaet, CEO of bpost group said: “With an operating result almost doubled from last year, I can proudly announce excellent results for the third quarter of bpost group. This is primarily due to our very committed employees worldwide, who have contributed in a fantastic way to this and continue to give the best of themselves for our customers worldwide today in very difficult circumstances. In this context of continued positive results, we can increase our adjusted EBIT guidance for the group for the year 2020 to at least EUR 270 million.
“The world is changing at an astonishing pace, with COVID-19 leading more people to turn to e-commerce. This has contributed to the strong performance in our European and North American Parcels and Logistics divisions. The EBIT of Parcels & Logistics Europe and Asia has almost tripled, while the EBIT of North America is positive for the second consecutive quarter, resulting in a higher combined contribution of these business units to the EBIT of the group than Mail & Retail. This shows that with our business transformation we are on the right track to build a sustainable future for the company.
“With the announcement of a new fulfillment site in the US, 2 additional parcel sorters installed in the summer and now fully operational in Belgium, as well as plans to expand Active Ants to our home country in the course of 2021, we continue to invest in additional capacity. While the second wave of the pandemic continues to create unknown territory with new lockdown measures, we at bpost group are fully ready for the end-of-year peak to successfully meet our customers’ expectations during the most important season of the year. the health of our employees and customers always comes first ”.
“Earlier this year, I worked with the executive management team on the future strategic direction of bpost group. We are pleased to present the outcome of this exercise on December 8, 2020”.