24-02-2022

Dirk Tirez, CEO of bpost group: “With the strong results of the 4th quarter, bpost has delivered on its promise with a full-year EBIT of 349.3 mEUR and strong end of year peak results, both financially and operationally. I would like to thank all my colleagues for their efforts during 2021 and during our successful end of year peak in particular. Even though we will face strong headwinds, these solid results also give me confidence that we are taking the right actions in 2022 - transform in Belgium, build a leading e-commerce logistics position in Europe, scale-up e-commerce logistics in the US and evolve into a more customer centric and sustainable organization. We have gathered a strong leadership team that together will execute on our plans and ambitions.“

The 2021 priorities as announced throughout the year achieved as planned.

Successful end of year peak in Belgium

Steep margin improvement and almost doubled EBIT at Parcels B2X
Nearly double-digit improvement on D+1 quality; backlog on average at 1/3rd or lower compared to 2020 peak
Reduced 2nd wave by 80%; 40% reduction of subcontractors use during key peak weeks despite COVID absenteeism
Effective use of buffer sites and pro-active regional deviations to avoid truck refusal on high volume days
#biggestteamofBelgium with more than 650 central staff gaining valuable experience in field operations
 

Strong end of year peak in complex market conditions in the US

Radial US adjusted EBIT at 39 mUSD, almost doubling compared to 4Q20 excluding cyber attack effects
Single maximum shipping day, new client revenues and new client units shipped all increased by more than 20%
Time in transit to customers was 20% faster with backlog down 9.4% year-over-year
Recruited and trained 24,000 temporary workers during peak season to successfully meet our clients’ peak volumes
Record peak at Landmark Global and Apple Express in terms of volume, revenue and EBIT
 

Active portfolio management - divesting non-core assets

Sale of The Mail Group and of Ubiway Retail (closing expected in late February)
Transfer of the 50% shares held by bpost in bpost bank to BNP Paribas Fortis and entry into force of new seven-year commercial partnership
 

Strengthening the top executive leadership team at bpost

A strong group executive team has been built, welcoming a new Belgium CEO, North-America CEO, as well as a new CTO and CSTO. Philippe Dartienne has been appointed as Group CFO and Anette Böhm has been appointed as Group CHRO.
More information via this link
Management priorities 2022 
Improve operational efficiency within Belgian organization and initiate transformation into long-term sustainable business

Increase operational productivity through work reorganization of 120 distribution offices along sorting, distribution and transport and improvements to asset utilization e.g. number and type of vehicles used, control of consumption
Grow Belgian e-commerce top line through dedicated hunting teams as well as specific key service improvements to increase volume from major clients
Launch Omega pilots for the new distribution model in 2nd half 2022 and prepare for implementation in 2023
 

Build E-Logistics Eurasia

Grow Radial and Active Ants as planned, exceeding market growth through new customer contracts
Open new fully automated Active Ants site in UK, new automated Radial site in NL (replacing and expanding the existing 2) and extend Radial PL site incl. highly automated section, cumulating to 13 sites (8 Radial EU, 5 Active Ants)
Invest in automation for Radial NL and PL, to service volume growth at competitive pricing and service levels. Implement remediation plans for less performing sites
Expand the cross-border business in EU and the UK, supported by additional hubs and a new warehouse in the UK
Mitigate inflation through indexation of contracts, passing on transport and delivery cost increases and active cost containment

Source: bpost

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