BNODE 4Q revenue EUR1.24B, estimated EUR1.28B (2 estimates)

BNODE 4Q revenue EUR1.24B, estimated EUR1.28B (2 estimates)

bpostgroup reported fourth-quarter 2024 operating income of EUR1,335.0 million, a 9.7% increase from the prior year, driven by the consolidation of Staci, which contributed EUR214.1 million since its August 1, 2024 acquisition according to Q4 results. Group adjusted EBIT for the quarter was EUR84.0 million (6.3% margin), up from EUR74.1 million in the prior year, though reported EBIT fell to -EUR222.9 million due to EUR299.4 million in non-cash impairment charges related to Radial US, reflecting client churn and market challenges as detailed in the earnings report.

Segment performance varied: BeNe Last Mile recorded EUR614.3 million in operating income (-3.6% year-over-year), with parcels volumes up 6.9% offsetting mail declines. The 3PL segment saw operating income rise 36.5% to EUR568.8 million, driven by Staci's integration and Radial Europe growth, though Radial North America faced volume pressures. Global Cross-border operating income fell 7.2% to EUR173.8 million, impacted by Landmark US customer losses but partially offset by cross-border expansion in Europe and Asia according to the Q4 results.

For the full year 2024, group adjusted EBIT totaled EUR224.9 million, aligning with guidance, while adjusted net profit reached EUR122.7 million. However, reported net results were -EUR209.2 million, primarily due to Radial US impairment charges. The board proposed no dividend for 2024, citing the negative IFRS net result as stated in the earnings release.

Looking ahead, bpostgroup projects 2025 adjusted EBIT of EUR150-180 million, with Staci's integration and Radial US cost controls expected to mitigate domestic and North American challenges. Total operating income growth is forecast at a high single-digit percentage, supported by cross-border recovery and 3PL expansion according to forward guidance.

Source: bpostgroup Q4 2024 results press release, February 28, 2025.