bpost NV/SA (BPOSF) Q4 2024 Earnings Call Transcript

2025-02-28 11:50:38 ET

bpost NV/SA (BPOSF)

Q4 2024 Earnings Conference Call

February 28, 2025, 4:00 AM ET

Company Participants

Chris Peeters - Chief Executive Officer

Philippe Dartienne - Chief Financial Officer

Antoine Lebecq - Head, Investor Relations

Conference Call Participants

Michiel Declercq - KBCS

Othmane Bricha - BofA

Marc Zwartsenburg - ING

Presentation

Operator

Ladies and gentlemen, hello, and welcome to the bpost Group Fourth Quarter 2024 Analyst Call. My name is Ben, and I will be your coordinator for today’s event. Please note that this conference is being recorded and for the duration of the call your lines will be in listen-mode only. However, you will have the opportunity to ask questions at the end of the call. [Operator Instructions]

I will now hand you over to your host, Mr. Chris Peeters, CEO of bpost Group. Please go ahead, sir.

Chris Peeters

Good morning, ladies and gentlemen. Welcome to all of you and thank you for joining us. Today I will be presenting our fourth quarter and full year 2024 results as CEO of bpost Group. With me, I have Philippe Dartienne, our CFO; as well as Antoine Lebecq from Investor Relations.

We posted the materials on our website this morning. We will walk you through the presentation and we’ll then take your questions. As always, two questions each would ensure everyone gets the chances to be addressed in the upcoming hour. Let’s get to the highlights of the full year result and Philippe will then walk you through our fourth quarter 2024 results.

On Page 3, you can see that bpost Group delivered results in line with its full year guidance. With total operating income exceeding €4.3 billion, our Group’s adjusted EBIT reached €224.9 million, representing a margin of 5.2% at the upper end of the €205 million to €230 million guidance reaffirmed in November with our third quarter results.

Our overall performance reflects the strong contribution of Staci. We are pleased with Staci’s performance over the past five months, delivering approximately €340 million in revenues and €41 million in EBIT, corresponding to an EBIT margin of 12%, ranking among the highest in the logistics industry. This solid performance aligns with our expectation despite a seasonally softer start in August.

However, when excluding Staci’s strategic contribution and looking at performance on a like-for-like basis, the overall picture is different. Revenues declined approximately €270 million, driven mainly by two key factors. A reduction of €50 million in Press revenues following the new Press contracts that took effect after the end of the Press Concession on June 30th, and a decline of more than €210 million in Radial U.S. revenues, impacted by a softer U.S. market environment with lower market volumes and increased competition among 3PL providers....

Read the full article on Seeking Alpha

For further details see: