bpost has revealed its third quarter results for 2018. The company’s operating income was EUR 873.7 million, up 34.9%, driven by acquisitions, excellent domestic parcels growth and stable domestic mail revenues.
The company saw a strong growth in the volume of Domestic Parcels +25.5% (+32.8% for 3Q17) driven by strong e-commerce development.
International Parcels were also up EUR 6.0 million, driven by higher revenues from the US and Europe.
Koen Van Gerven, CEO, commented: “The third quarter results are in line with the previous quarters and in line with our expectations for 2018 as expressed at our capital markets day in June. Over the third quarter, we realised a strong growth in domestic parcels driven by booming e-commerce in our extended Be-Ne home region. Radial operational results are in line with our expectations. We expect the last quarter of the year to be seasonally stronger. We are on track to deliver our guidance and to pay a dividend at least the same as last year.
This results announcement comes in a difficult social climate for the company, even if discussions with the social partners take place in a constructive atmosphere. I would like to take this opportunity to thank all our employees for their daily work on the field. Thanks to them, bpost can fulfil its universal and public service missions and satisfy the needs of its customers.
In order to maintain our essential role in the society and preserve quality jobs, we continue the transformation of our company to become an international e-commerce logistics player. Our objective is to make this change a success in a socially responsible way. ”
As expected Domestic Mail volume is in decline at -6.4% (-5.3% for 3Q17) impacted by continued e-substitution, rationalisation and competitive advertising market. Increased monthly volatility.
Bpost’s results for 2018 include the acquisitions of Radial, Bubble Post, Leen Menken Foodservice Logistics, Imex Global Solutions, M.A.I.L., Inc. and Active Ants.