Q3 2024 Bpost SA Earnings Call Transcript
Key Points
- Bpost SA de Droit Public (BPOSY) reported a 5% year-over-year increase in group operating income, reaching EUR 1 billion.
- Domestic parcel revenue grew by 9%, driven by strong demand in fashion and apparel sectors.
- The company successfully refinanced its bridge financing through a EUR 1 billion dual-tranche senior unsecured bond offering, which was oversubscribed by 4.4 times.
- Staci's EBIT contribution for the quarter was EUR 11.3 million, with a margin of 9.2%, indicating a positive impact from the acquisition.
- The company reaffirmed its 2024 EBIT outlook, projecting an adjusted group EBIT in the range of EUR 205 million to EUR 230 million.
- Operating income decreased by 8% when excluding the consolidation impact of Staci, mainly due to pressures in North America.
- Adjusted EBIT stood at EUR 10.3 million, representing a decline of EUR 29 million compared to the previous year.
- The group reported a negative EBIT of EUR 0.9 million, reflecting an adjustment for a cost of EUR 8 million incurred during the quarter.
- Cross-border North America revenues declined by 15%, with Landmark Global reporting its seventh consecutive quarter of year-over-year revenue decline.
- The company faced challenges in the US market, with ongoing competition and pricing pressures affecting revenue growth.
Hello and welcome to the Bpost third quarter, 2024 results. My name is Laura, and I will be your coordinator for today's event. (Operator Instructions.) I will now hand over to host, Mr Philippe Dartienne, CFO to begin today's conference. Thank you.
Good morning, ladies and gentlemen, welcome to and thank you for joining us. I'm pleased to present you our third quarter result as CFO of Bpost Group. Our CEO could not make it today and I have with me Antoine Lebecq from Investors Relation.
We posted the materials on our website this morning. We will walk you through the presentation and we'll then take your questions as always two questions each will ensure everyone gets a chance to be addressed in the upcoming hour.
Our group operating income for third quarter to the 1 billion, EUR25 million and increased year over year by 5%. At constant perimeter meaning excluding the EUR123.5 million consolidation impact of Staci our
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