bpost Launches new 2024-2027 ambitions
Today, bpost launched its “Reshape 2029” strategy. This will be followed by a CMD in Brussels later today. Over the next years, bpost's intends to reposition itself as a logistics leader that also provides postal services. The transformation should result in group revenues exceeding € 5.0bn by 2027 (kbcse: € 4.8bn), with the adj. EBIT expected to progressively recover above € 275m (kbcse: € 208m). Growth is mainly expected to come from its 3PL business. While the outlook comes in comfortably above our estimates, our focus will mainly be on the different actions and initiatives to achieve these targets. We therefore reiterate our Hold rating and € 1.3 TP.Bpost is engaged in the provision of national and international mail and parcels services comprising the collection, transport, sorting and distribution of addressed and non-addressed mail, printed documents, newspapers and parcels. In addition, through its subsidiaries and business units, Co. sells a range of other products and services, including postal, parcels, banking and financial products, express delivery services, document management and related activities. Co. operates through two business units: the Mail & Retail Solutions and the Parcels & International.
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