On Wednesday, Bpost (BRU: BPOST) shares plummeted to a historic low in intraday trading following the postal giant's release of a profit forecast that fell short of market anticipations. The Belgian postal firm now predicts its adjusted earnings before interest and taxes (EBIT) for the year to range between 165 million and 185 million euros. This projection starkly contrasts with analysts' more optimistic 215.7 million euros forecast.
Chief Executive Chris Peeters highlighted that the company's revenue streams in North America are experiencing significant pressure due to challenging market conditions. "We are taking decisive actions to counteract these pressures by maintaining a strong focus on productivity enhancements," Peeters remarked.
Additionally, Bpost emphasized its efforts to sustain current volumes while renegotiating distribution contracts with press editors. Despite these endeavors, the company faced a 5.3% drop in operating income, bringing in 993 million euros in the first fiscal quarter.
