bpostgroup reported lower-than-expected first-quarter results on Friday, a disappointment that sent its share price down by more than 3% on the Brussels stock exchange.
The Belgian postal operator reported this morning that total revenues amounted to 993 million euros in the first three months of the year, down 5.3% year-on-year.
This was well below analysts' forecasts, who were targeting an average of 1.03 billion euros.
Adjusted EBIT fell by 20% to 62.1 million euros, again below the consensus forecast of 69.7 million euros.
CEO Chris Peeters says that results showed a degree of resilience in Belgium, where the group recently reached an agreement with Flemish publishers on newspaper distribution.
He says he hopes to do the same soon with French-speaking publishers.
bpost notes that its revenues in North America remain under pressure due to unfavorable market conditions, and that it is implementing productivity gains to mitigate the effects.
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bpost SA/NV is the leading Belgian provider of postal services. The group offers collection, sorting, routing, and delivery services for letters and packages. The activity is organized around 3 sectors:
- package distribution. The group also offers logistic and express transport services;
- mail collection and delivery: letters, postcards, advertising flyers and documents, newspapers, etc.;
- other: sales of postal products (primarily postage stamps), supply of document management services, etc.
BPOST SA/NV 
