Bpost posts lower 2023 operating profit, does not provide 2024 profit outlook (updated)

Bpost SA

01/03/2024 07:11

(Adds details, context, CEO quote, operating income outlook,
dividend)
       March 1 (Reuters) - Belgian postal operator Bpost
 BPOST.BR  reported a decline in full-year operating profit on
Friday, and did not provide an outlook for 2024, citing "ongoing
discussions with press stakeholders".
    The group, which delivers mail and parcels and provides
e-commerce logistics, reported adjusted earnings before interest
and taxes (EBIT) of 248.5 million euros ($268.63 million) for
2023, down 10.8% from a year earlier.
        Bpost has been under pressure due to speculation that
the Belgian government could choose other companies for the
distribution of newspapers and periodicals in the country.
    The group has important challenges in finalizing agreements
with government services for last year's compliance audits, and
securing a positive future for press distribution in Belgium
with local editors, CEO Chris Peeters said in a statement.
        "We are ready to embrace the future with optimism," he
added.
    Last November, the company said it hadn't decided on its
concession on newspaper distribution, although one month later,
the Belgian government extended two press concessions, allowing
Bpost to continue distributing daily newspapers.
    Bpost said it expects total operating income in 2024 to
remain stable compared to 2023.
    It reported total operating income of 4.27 billion euros for
2023, slightly below analysts' expectations of 4.30 billion
euros in a company-compiled consensus.
    Bpost said it would propose a dividend of 0.13 euro per
share for 2023, down from a payout of 0.40 euro for 2022.
($1 = 0.9251 euros)

 (Reporting by Lina Golovnya, Editing by Himani Sarkar and Varun
H K)
 ((Lina.Golovnya@thomsonreuters.com;))