bpost 2Q24 Conference call feedback
Bpost reported a solid set of 2Q24 results, with the adj. EBIT of € 57.8m coming in above kbcse & css expectations of € 56.9m and € 51.8m respectively. The beat was largely driven by a better performance in Belgium, which still included press remuneration from the BE government. This was however partially countered by ongoing pressure in N-A. bpost further announced that it completed the Staci acquisition, which will now be consolidated from August onward. We reiterate our Buy and € 5.0 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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