Brief: Bpost Takes Provision Of EUR 75 Mln After Completing Three Compliance Reviews

Bpost SA

22/09/2023 17:13

Sept 22 (Reuters) - Bpost SA  BPOST.BR :
    * BPOSTGROUP HAS FINALISED THE THREE COMPLIANCE REVIEWS
    * REPORTS HAVE LAID BARE A NUMBER OF MALPRACTICES AND/OR
RISKS
    * BASED ON THE LEGAL AND ECONOMIC ANALYSES, THE COMPANY
TAKES A
PROVISION OF € 75 MILLION
    * SPECIFICALLY CONCERNS THE PROCESSING OF TRAFFIC FINES, THE
MANAGEMENT OF 679 ACCOUNTS, AND THE DELIVERY/CANCELLATION OF
LICENCE PLATES
    * THE COMPENSATION RECEIVED BY BPOST FOR TRAFFIC FINES
(CROSS
BORDER FINES – CBF) MAY IN PART CONSTITUTE UNLAWFUL STATE AID
    * REPORT HAS BEEN SUBMITTED TO THE EXTERNAL COUNSEL OF THE
FPS
JUSTICE
    * REGARDING LICENCE PLATES: BPOST FAILED TO COMPLY WITH THE
SERVICE LEVEL AGREEMENTS (SLAS) ON A NUMBER OF OCCASIONS AND
SHOULD THEREFORE PAY THE CONTRACTUALLY FORESEEN FINES
    * CONCERNING ANNUALIZED NEGATIVE EBIT IMPACT IN 2023 OF
REPRICING
THE SERVICES TO THE THREE MINISTRIES, THE ANNUAL ACCRUAL HAS
BEEN REDUCED TO €10M

Source text: https://tinyurl.com/2fpfuxcj
Further company coverage:  BPOST.BR 

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