bpost reports steady Q2 results

Belgian postal operator bpost gave its Q2 results today. Q2 revenues were €591.9 million, down 1% on last year.

Domestic mail volumes saw a fall of 3.8%, a lower fall than Q2 of 2015 where volumes fell by 6.1%. Domestic mail volumes however grew by 18.3%. This was better than Q2 of 2015 where volumes grew by just over 12%.

Koen van Gerven, CEO of bpost said of the results: “This quarter keeps us fully on track for 2016. Thanks to excellent growth in parcels and resilient domestic mail, we managed to fully compensate the impact of the reduction in SGEI compensation on our profitability and delivered on our promises.”

Referring to the acquisition strategy in International Parcels, Van Gerven said, “I’m also very glad to see that these results are supported by the positive contribution from the acquisition strategy in International Parcels. We are on track to realize our outlook for this year and expect to realize the same result and dividend as last year.”

Looking ahead, the company said in a statement, “We expect underlying Domestic Mail volume to decline by about 5%”. This follows a similar pattern in declines of letter mail across Europe and much of the world.

Van Gerven thanked the postal operator’s customers and employees for helping the company survive the changes in the ecosystem: “I would like to thank our customers for their trust in bpost and our employees for their efforts.”

Managing to maintain a steady ship in the rapidly changing postal environment is a high achievement for many postal operators. Bpost seems to have achieved just this.