Bpost falls to record low on lower-than-expected guidance

Bpost SA

03/07/2024 08:41

** Shares in Bpost  BPOST.BR  fall as much as 11% to
all-time low after the Belgian postal company announced
full-year earnings outlook below expectations and cut its CAPEX
guidance
    ** The group sees 2024 adjusted earnings before interest and
taxes (EBIT) at 165-185 million euros ($178-199 million), below
company-compiled consensus of 215.7 million euros
    ** "The structural adverse impact of the stopping of the
press concession is somewhat bigger than we had anticipated and
trading conditions in North America remain challenging," Degroof
Petercam says, cutting its PT by 20% to 3.40 euros
    ** Bpost also cut FY gross CAPEX to around 150 million euros
from 180 million previously
    ** If losses hold, shares will see their worst day in nearly
five months
        ** By 0737 the stock is down around 7%, having hit a
record intraday low of 2.78 euros
  

    
($1 = 0.9299 euros)

 (Reporting by Olivier Cherfan)
 ((olivier.cherfan@thomsonreuters.com))