Bpost up after 2023 EBIT beat, brokers says lack of outlook 'expected'

Bpost SA

01/03/2024 10:00

** Shares in Bpost  BPOST.BR  rise 6%, reversing course
after falling as much as 5.2%, as the Belgian postal operator
reported a smaller-than-expected drop in FY EBIT
    ** It reports adjusted EBIT of 248.5 million euros ($268.7
million) for 2023, down 10.8% from a year earlier but above
analysts' consensus forecast of 241.4 million euros
    ** The group did not provide a profit outlook for 2024,
citing ongoing commercial discussions on press distribution with
the involved press stakeholders
    ** KBC analysts say the lack of profit guidance "could be
expected" 
    ** Degroof Petercam echoes this, saying "no specific outlook
for 2024 at this stage as it is too difficult to assess the
impact of the loss of the press concession"
    ** Including Friday's rise, the stock has dropped around 21%
YTD​
($1 = 0.9250 euros)

 (Reporting by Lina Golovnya)
 ((lina.golovnya@thomsonreuters.com))