bpost sees pandemic spike in revenues

Belgian postal operator bpost has seen a 12.5% year on year growth in revenues for the second quarter of 2020. This has been put down to strong e-commerce parcel growth cancelling out mail volume decline and other issues to do with the pandemic.

Commenting on the figures, bpost CEO and chairman Jean-Paul Van Avermaet observed, “We are still evolving in a very uncertain world. However, thanks to the considerable efforts of all our employees, the first half of the year allows us to reconfirm our initial 2020 group EBIT guidance. Visibility remains low, and the broad economic impact of Covid-19 will likely only be felt over the coming years.

“Covid-19 has triggered an acceleration of the digitising world we are operating in. This is materialising through a significant increase in e-commerce penetration, as witnessed by our huge second quarter organic parcels volume growth above 78% and the steep acceleration in our e-commerce logistics revenues, both in the USA at Radial as in Europe. At the same time, these results also confirm that the diversification strategy that bpost Group has put in place over the last years is a sound one for a viable future.”