bpost has reported it Q3 2021 results. Group operating income totalled €977.6m, up 0.5% year-on-year (y-o-y). Group adjusted EBIT was €39.1m, down by €30.4m y-o-y but in line with pre-COVID seasonal pattern in which Q3 is always the weakest according to the company. Group reported EBIT stood at €31.0m.
In the Mail & Retail segment, total operating income was €469.4m (up 1.2% y-o-y) driven by positive mail price impact offsetting volume decline. Underlying mail volume declined by 7.5% with one-off COVID-19 communication fading out. Reported EBIT stood at €13.5m.
In the Parcels & Logistics Europe & Asia segment, total operating income was €238.2m (-9.5% y-o-y) fully driven by the anticipated but higher than expected decline in Asian cross-border volumes versus the peak of Q3 2020. Parcels B2X volume increased by 8.9% y-o-y from sustained online sales. Reported EBIT stood at €11.3m.
In the Parcels & Logistics North America segment, total operating income excluding international mail was €313.2m (up 14.9% y-o-y at constant exchange rate), reflecting accelerated contribution of new customers with reported EBIT at €12.1m.
According to Dirk Tirez, CEO of bpost group: “Q3 is softer as fully expected and in line with industry. We have set solid fundamentals that maintain our confidence in the end of year peak and the delivery of our upgraded full year guidance, which is an EBIT of ‘above €340m’. It is also my pleasure to announce that bpost has increased its environmental ambitions, aiming to reduce our emissions under direct influence with 55% by 2030 when comparing to 2019.”
The company is also preparing to the 2021 peak season through hiring additional workforce amongst other initiatives.
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