Higlights Q3-13

• Total operating income (revenues) increased by € 17.2 millions to reach € 566.6 millions in the third quarter.  Organic total operating income growth amounted to € 14.2 millions driven by the proceeds of the announced buildings disposal programme (€ 11.4m due to a single building).
• Underlying Domestic Mail volume decline stabilized in Q3-13 (-3.7%), very marginally below expectations but in line with the previous quarter (Q1-13:-4.8%, Q2-13: -3.8%).
• Continuing strong performance in parcels with an organic revenue growth of €9.8m, domestic parcels revenues up 5% and volumes up by +7.7% (versus +6.4% in H1-13) with a focus on capturing major customers to benefit from e-commerce growth.
• Costs and productivity improvement programs delivered ahead of expectations with a further organic operating expenses reduction of € 7.3 millions and an average FTE reduction of 974 FTE vs Q3-12.
• EBITDA margin for the quarter improving to 18.3% (+2.8 percentage points versus Q3-12) to reach € 103.9 millions on a normalized basis; EBIT came in at € 81.5 millions for the quarter.  Excluding phasing and scope impacts and the proceeds from sale of a single building of € 11.4m, EBITDA and EBIT still grew respectively by € 9.9m (+.6%) and € 8.8m (+.8%).
• Belgian GAAP net profit of the parent company amounts  € 44.9 millions for the quarter (improvement of € 12.8 millions versus last year), bringing the total year-to-date to €175.5m (+€ 4.7m versus YTD-12).
• Dividend policy (payment of 85% of net profits of bpost S.A./N.V.) and compensation of pre-listing exceptional tax charge of 17.6 millions confirmed.
• Outlook confirmed

See more

Source: bpost