Bpost : Discount justified
>We expect a weak Q3, but 2021 guidance not at risk - We spoke to the company ahead of its silent period and we believe Q3 will be weak. Although mail volumes and parcel volumes were relatively resilient, overcapacity in the network diluted margins. Also decline in Asian Cross border volumes and Low Value Consignment Regulation is likely to negatively impact margins. We forecast 3Q 2021 adjusted EBIT at €35m (3Q 2020 €69m, 3Q 2019 €38m). Despite a weak quarter, w...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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.