bpost sees 26% Q1 revenue growth

The Belgian postal operator bpost has reported that its Q1 revenues were up 26.4% to €764 million. This was driven by strong growth in parcels, as well as resilient domestic mail and its rash of recent acquisitions.

Bpost’s domestic parcel volumes were up by 24.5%, put down to e-commerce and C2C growth in this sector by the postal operator. It also saw international parcel revenues grow strongly, supported by an increase in flow of parcel traffic from China and the United States.

Commenting on the results, bpost CEO Koen Van Gerven said: “I’m very happy that the first quarter shows a good start to the year, with an outstanding Parcels performance both domestically as well as internationally.”

The bpost CEO continued: “Domestic mail volumes proved to be resilient especially against the very strong  first quarter of last year. Our results were furthermore influenced by the integration of new acquisitions, which provide additional potential for EBITDA growth in the future.

“Bottom line, we did better than last year by €1.1m on EBITDA, fully in line with our guidance.”

Van Gerven then alluded to the Belgian regulator BIPT’s recent decision not to approve bpost’s proposed stamp price increase: “We will appeal the Regulator’s decision for 2017 regarding the stamp price and we are working on our 2018 price increase. With all of this I’m confident that the company will again deliver on what we have promised, so I confirm our outlook for the year 2017.”  
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