Belgian Post improved its underlying operating profits by 14% last year on moderate revenue growth,and said its long-term restructuring and modernisation programme is on target ready for full market
liberalisation in 2011.The company increased revenues by 2% to € 2.28 billion. Excluding the negative impact ofselling its French subsidiary Asterion in September 2007, revenues were up by 3%. Belgian Post saidits “considerable sales efforts” had ensured that the drop in volumes was only 0.1%.
The operating profit (EBIT) fell from €155 million in 2006 to €96 million last year.Excluding the effects of one-off expenses, this represented a 14% increase, the company said. Netprofits dropped to €65 million from €96 million for similar reasons.
The parcels and express business, due to be merged this year under the Taxipost brand,increased revenues slightly by 0.6% to €97 million in 2007. “This performance was achieved in spiteof a targeted attack from competition against our customer base and before the launch of our newparcels offering in 2008,” Belgian Post noted in its preliminary financial report.
Belgian Post CEO Johnny Thijs commented: “The progress we made in 2007 is due to our effortsduring the past five years. Compared to 2003, the group has improved in every respect… Our mission,however, doesn’t stop here. We should continue strengthening our position if we want to face up toall our competitors in a market which will soon be completely liberalised. That’s why we need tofurther transform and modernise our company,” he stressed.
