bpostgroup announced on Thursday evening that its performance had exceeded its own expectations in the third quarter, despite the persistence of business conditions deemed unfavorable.
The Belgian postal operator reports that the resilience of its activities in Belgium, underpinned by high parcel volumes, and its improved performance in Eurasia more than offset the pressure on its revenues in North America.
In the third quarter, the Group's total revenues reached 978.5 million euros, down 4.2% year-on-year, while adjusted Ebit rose to 28.1 million euros from 26 million euros a year earlier.
Despite the seasonality of the third quarter - traditionally weaker due to the summer months - we have once again published good results, exceeding our expectations at Group level", enthused Philippe Dartienne, Interim CEO.
Taking into account the provision of 75 million euros to be reimbursed to the Belgian State for overcompensation on contracts, quarterly Ebit shows a loss of 50.1 million euros.
Following updated compliance reviews, however, bpost says it is in a position to re-establish a profit forecast, with the aim of generating adjusted Ebit in excess of 240 million euros this year.
All these announcements were welcomed, albeit without fervor, on Friday by the Brussels Stock Exchange, where the share gained 1.8% in late morning trading.
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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 
