bpost has released its first quarter 2021 results, revealing a strong start to the year driven by continued growth in Parcels & Logistics and lower than expected impact of mail volume decline.
First quarter 2021 highlights
Group operating income at EUR 1,019.9m, +9.1% compared to last year’s pre COVID-19 first quarter, driven by Parcels BeNe and E-commerce logistics growth in both Parcels & Logistics Europe & Asia and North America.
Group adjusted EBIT at EUR 115.5m (margin of 11.3%), up EUR 39.9m compared to prior year. Group reported EBIT at EUR 112.3m.
Mail & Retail
Total operating income at EUR 506.8m (+1.4%) driven by higher volume driven intersegment income related to parcels volumes, partially compensated by lower revenues in Retail and lower than expected impact of mail volume decline supported by a positive price/mix impact.