As promised, bpost delivers a strong end of year driven by successful end-of-year peak execution in Belgium and in North America.

[POSTMAN]

https://press.bpost.be/as-promised-bpos ... th-america

Fourth quarter 2021 highlights

Group operating income at 1,299.7 mEUR, +8.8% compared with the same period last year.
Group adjusted EBIT at 88.1 mEUR (margin of 6.8%) increased by 27.6 mEUR compared to prior year (up +45.7%). Group reported EBIT at 84.9 mEUR.

Mail & Retail
Total operating income at 521.5 mEUR (-0.9%) driven by positive mail price impact offsetting underlying volume decline of -8.9%, higher revenues in Retail and VAS and offset by lower volume driven intersegment income. Estimated 8 mEUR support from one-off COVID communication.

Slightly lower operating expenses driven by (i) lower costs from successful end of year peak execution, offset by (ii) salary index and CLA 2021-2022 impacts.

Adjusted EBIT at 31.3 m EUR (6.0% margin) and reported EBIT at 30.9 mEUR.

Parcels & Logistics Europe & Asia
Total operating income at 286.7 mEUR (-9.4%) against high comps driven by the ongoing pressure on Asian cross-border volumes and Parcels B2X volume decline of -7.5% (against November 2020 lockdown) and reflecting Amazon insourcing. Continued e-commerce logistics expansion of Radial Europe and Active Ants (+12.3%).

Adjusted EBIT at 22.2 mEUR (7.7% margin), stable year over year (-0.3 mEUR or -1.2%) driven by (i) successful end of year peak execution with higher operational leverage in Parcels, offset by (ii) Asian cross-border volume impacts and (iii) e-commerce logistics’ expansion operating expenses. Reported EBIT at 21.4 mEUR.

Parcels & Logistics North America
Total operating income excluding International mail at 547.5 mEUR (+28.3% at constant exchange rate), reflecting the contribution of Radial’s new customers.

Adjusted EBIT at 46.0 mEUR (8.4% margin), up by +32.0 mEUR. Operationally adjusted EBIT up +65.0% when excluding impacts of ransomware attack and one-time concessions from vendor.

In line with the dividend policy, the Board of Directors will propose a total dividend per share of EUR 0.49 gross – based upon 40% IFRS net profit pay-out ratio as there’s no significant non-cash impact in 2021. Dividend will be payable in May 2022 after approval of the General Shareholders’ meeting.

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