Belgian Post has announced a significant improvement in its profits for 2007 thanks to higherrevenues, better mail quality and successful modernisation of its operations.
According to provisional figures, the company’s turnover increased by 1.9% to EUR 2.2billion, which represents a 3% organic increase taking the sale of French subsidiary Asterion inSeptember 2007 into account. The structural drop in volumes in 2007 was limited to 0.1%, whilesuccesses included an increased market share in direct mail and international mail. On the otherhand, La Poste was forced to terminate its PubliPack pilot scheme for unaddressed mail in thesecond half of the year due to inadequate margins.
Belgian Post said that although its operating profit (Ebitda) dropped by 17% from EUR 229million last year, this was largely due to non-recurring costs. The underlying operating profitrose by 10%, and the net profit showed a similar trend. The fully audited consolidated results willbe submitted to the Board and shareholders for approval in mid-April.
CEO Johnny Thijs stressed that the group had succeeded in implementing a considerable numberof change and modernisation projects in 2007. “La Poste is keeping to the schedule set for itspreparation for full liberalisation of the postal market in 2011,” he commented. Among the mainachievements, Belgian Post improved mail delivery quality to 92.4% next-day delivery, and continuedthe post office network restructuring with the closure of 250 full post offices and opening of 267PostPoint agencies.
In 2008, Belgian Post will focus on several major projects, including the launch of a newparcels and express service, further post office network restructuring and a continued mailreorganisation.
