bpostgroup climbs 6% on the Brussels Stock Exchange on Friday, after reporting 2023 results in line with expectations, thanks in particular to a successful Christmas season.

The Belgian postal group announced this morning that it generated adjusted EBIT of 248.5 million euros last year, down 10% year-on-year, but ahead of its target of at least 240 million euros.

In the fourth quarter, total operating revenues fell by 6.5% to €1,217.2 million, below the consensus figure of €1,247.5 million.

But its adjusted Ebit for the last three months of the year came to €74.1 million (-3.7%), well above the consensus target of €67 million.

Excluding revenues from press distribution activities, its operating income should remain stable this year compared with 2023.

On the strategy side, the operator acknowledges the need for a "large-scale transformation" in order to cope with the decline in its historical activities, which it considers still insufficiently offset by its recent diversification efforts.

However, bpost's ambition is to become a regional leader in the parcel logistics market, in Belgium as the leader in
logistics for 'B2C' and 'B2B' parcels, and internationally as a major player in third-party logistics.

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