bpost Facing challenges on multiple fronts
Running up to the publication of the 1Q25 results on Friday, we have revised our estimates to the downside. For FY25, we currently expect the adj. EBIT to decrease by 32% to € 153m, or the low-end of the guided € 150-180m range despite an additional 7 months of Staci consolidation. Our estimates mainly reflect additional headwinds from the 2-week strikes, as well as some uncertainty related to the US tariff situation. Incorporating our new estimates into our model, we lower our TP from € 2.6 to € 1.3 ps and maintain our Hold rating.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.
We are a financial services provider for several types of professional clients, each with distinct needs.
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