Bnode falls as logistics unit's 'disappointing' performance weighs

Bpost SA

06/03/2026 09:20

** Shares in Bnode BPOST.BR slump 10%, weighed down by worse-than-expected results at its logistics division Paxon, which is seen as the group's future growth driver

** The Belgian postal operator reports Paxon's Q4 adjusted EBIT at 32.6 million euros ($37.80 million), below the company-compiled consensus of 46.5 million euros

** KBC Securities says Paxon's performance is "disappointing" and offsets a better profitability posted at the group level

** The broker attributes the miss to client churn, Radial North America sales decline, a large customer loss, temporary productivity issues and an IT incident at Staci Americas

** "We keep a close eye on this division going forward, as this is considered the groswth driver for the group," KBC says

** Shares are on track for their worst day in four months, if losses hold

($1 = 0.8624 euros)

(Reporting by Olivier Cherfan)

((olivier.cherfan@thomsonreuters.com))