BPOST - Outlook still standing (for now) BPOST BB
This morning, bpost reported 1Q22 results, with the key highlight being the potential downward risk of up to € 40m to its adj. EBIT guidance of € 280-310m. Although bpost has not officially lowered its guidance for 2022 given that the group lacks visibility for now, a revision later this year is still plausible. As such, we have already revised out estimates to the downside, hereby estimating for an adj. EBIT of € 264m in 2022 (prev. € 288m). In this note, we quickly recap on some key comments that were shared during the analyst meeting while also sharing our revised estimates. Recall that we already decreased our TP this morning from € 11.0 to € 8.6 ps but reiterated our Buy 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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