Belgium's Bpost posts Q3 beat, reinstates previously-withdrawn EBIT guidance (updated)

Bpost SA

09/11/2023 17:53

(Adds context in paragraph 4, CEO in 5, EBIT result in 6 and
new CEO in 7)
    By Olivier Cherfan and Augustin  Turpin
       Nov 9 (Reuters) - Belgium's Bpost  BPOST.BR  posted EBIT
above consensus and reinstated its previously-withdrawn 2023
core profit forecast on Thursday, taking into account recent
updates on compliance reviews for its services to the Belgian
state.
    The group, which delivers mail and parcels and provides
e-commerce logistics, now expects adjusted earnings before
interest and taxes (EBIT) of more than 240 million euros ($257
million) for 2023, and an operating income to decrease by a
low-single digit percentage.
    Bpost previously guided for EBIT to be 240 million to 260
million euros, following the preliminary results of the
compliance review.
    Delivery and postal firms globally are looking for ways to
hold onto market share as demand from e-commerce weakens.
Bpost's European peers such as PostNL  PTNL.AS  and DHL
 DHLn.DE  revised this week their guidance down in quarterly
updates, still hit by a post-pandemic fall in online shopping.
    "We are well-prepared to tackle this challenge despite
market's uncertainties, notably in North America where volumes
are currently under pressure," interim CEO of Bpost Philippe
Dartienne said in a statement on the upcoming year-end peak
season.
    The company published an adjusted EBIT for the quarter at
28.1 million euros, above the 23.6 million euros expected by
analysts in a company-provided consensus.
    The group also welcomed its new CEO Chris Peeters, appointed
for a period of six years, who officially took office this week.
    
($1 = 0.9341 euros)

 (Reporting by Augustin Turpin and Olivier Cherfan in Gdansk;
editing by David Evans)
 ((augustin.turpin@thomsonreuters.com;
olivier.cherfan@thomsonreuters.com))