During the CMD on June 3rd, bpost announced its strategic ambitions for the 2024–2027 period. While the 2027 outlook came in well above our estimates, we note that most of the projected Adj. EBIT growth is expected to be back-end loaded, as the group continues to face challenges in 2025 and 2026. Nonetheless, we believe management made a good impression. We were particularly encouraged by the launch of Radial's new fast-track offering in the U.S., with initial customer onboardings trending ahead...
European legacy airlines started the year with the right foot, all delivering a y/y improvement in profitability supported by higher unit revenues amid the good performance in the premium segment. Other activities such as cargo and MRO also delivered a positive performance during the quarter. FCF generation was positive supported by the seasonal working capital inflows leading to an overall deleveraging of the balance sheet of all groups. Despite current market volatility, the outlook remains po...
European legacy airlines started the year with the right foot, all delivering a y/y improvement in profitability supported by higher unit revenues amid the good performance in the premium segment. Other activities such as cargo and MRO also delivered a positive performance during the quarter. FCF generation was positive supported by the seasonal working capital inflows leading to an overall deleveraging of the balance sheet of all groups. Despite current market volatility, the outlook remains po...
Aedifica and Cofinimmo: Agreement reached to create Europe's leading Healthcare REIT. bpost: CMD press release; #Reshape 2029. D'Ieteren: Belgian new car registrations down 11.7% in May, VW down 13.5% Fugro: Meeting with CEO & IR; 2Q25 also has its challenges. UCB: Peer Moonlake held takeover talks with US Merck, FT reports
Today, bpost launched its “Reshape 2029” strategy. This will be followed by a CMD in Brussels later today. Over the next years, bpost's intends to reposition itself as a logistics leader that also provides postal services. The transformation should result in group revenues exceeding € 5.0bn by 2027 (kbcse: € 4.8bn), with the adj. EBIT expected to progressively recover above € 275m (kbcse: € 208m). Growth is mainly expected to come from its 3PL business. While the outlook comes in comfortably abo...
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