Bpost : 2021 guidance disappoints mainly due to lower growth in Parcels EuroAsia
>Results below expectations - Bpost reported 4Q20 results yesterday after close which were below expectations. 4Q20 adjusted EBIT missed consensus by c. 20% (€16m below expectations) mainly due to a miss in PaLo EurAsia (Parcels Belgium). Although B2X parcel volumes in the Benelux exceeded our expectations (67% vs ABN-ODDOe 60%) revenues and earnings missed consensus and our estimates. 4Q20 PaLo EurAsia EBIT margin decreased to 7%, still ahead of 4Q19, but significant...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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