(CercleFinance.com) – bpostgroup reported on Friday first quarter results below expectations, a disappointment which caused its stock to fall by more than 3% on the Brussels Stock Exchange.
The Belgian postal operator indicated this morning that its total operating income had reached 993 million euros over the first three months of the year, a drop of 5.3% compared to last year. .
This is significantly lower than analysts’ forecasts, which targeted an average of 1.03 billion euros.
Its adjusted Ebit fell by 20% to 62.1 million euros, a performance again below the consensus which anticipated 69.7 million euros.
Chris Peeters, its managing director, says the results have demonstrated some 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 in the process of implementing productivity gains to mitigate the effects.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
Are you following this action?
Receive all the information on BPOST in real time: