Slide 1: First quarter 2021 results Analyst call
First quarter 2021 results Analyst call Dirk Tirez, CEO a.i. Leen Geirnaerdt, CFO 6 May 2021
Slide 2: Investor presentation 1Q21 disclaimer and financial calendar
Investor presentation 1Q21 Interim financial report 1Q21 Financial Calendar Disclaimer 12.05.2021 This presentation is based on information published by bpost group in its First Quarter 2021 Interim Financial Report, made available on May 5th, 2021 at 5.45pm CET on corporate.bpost.be/investors. This
Slide 3: Highlights of 1Q21
Highlights of 1Q21 1Q21 Strong start to the year driven by continued growth in parcels and e-commerce logistics on both sides of the Atlantic, and lower than expected impact of mail volume decline in Belgium Initial 2021 Group operating Mail & Retail Parcels & Logistics Parcels & Logistics guidance
Slide 4: 1Q21 EBIT above expectations, driven by continued volume growth in Parcels & Logistics
1Q21 EBIT above expectations, driven by continued volume growth 1Q21 in Parcels & Logistics and lower than expected impact of mail decline € million 115.5 -1.7 3.2 15.7 +39.9 20.4 75.6 5.5 112.3 4.6 Adjusted1 Reported 71.0 EBIT Mail & PaLo PaLo Corporate EBIT 1Q20 Retail Eurasia N. America 1Q21 1 Ad
Slide 5: Key financials 1Q21
Key financials 1Q21 1Q21 € million Reported Adjusted1 1Q20 1Q21 1Q20 1Q21 %↑ 1 Amortization and impairments of intangibles recognized Total operating income 934.6 1,019.9 934.6 1,019.9 9.1% during PPA are adjusted, Operating expenses 797.4 842.7 797.4 842.7 5.7% leading to increase in EBITDA 137.2 1
Slide 6: Results by segment 1Q21
Results by segment 1Q21 1Q21 € million M&R PaLo Eurasia PaLo N. Am. Corp Eliminations Group External operating income 446.9 283.9 281.1 7.9 0.0 1,019.9 Intersegment operating income 59.9 3.9 0.9 102.6 -167.3 0.0 Total operating income 506.8 287.8 282.1 110.6 -167.3 1,019.9 Operating expenses 414.6 2
Slide 7: Top-line decrease driven by COVID-19 impacts on retail and lower mail decline – M&R
Top-line decrease driven by COVID-19 impacts on retail 1Q21 – M&R and lower than expected impact of domestic mail volume decline M&R external operating income, € million Domestic Mail Transactional Advertising Operating income decline at € -3.4m: -9.6% underlying volume decline against -5.4% underly
Slide 8: EBIT increase driven by high parcel volumes handled through the mail network – M&R
EBIT increase driven by high parcel volumes handled through 1Q21 – M&R the mail network and lower than expected impact of mail decline € million Mail & Retail External operating income 1Q20 457.8 1Q21 446.9 %↑ -2.4% Key takeaways 1Q21 Transactional 193.3 190.2 -1.6% • Total operating income up € +6.
Slide 9: PaLo Eurasia revenue driven by thriving e-commerce both domestically and abroad
PaLo Eurasia revenue driven by thriving 1Q21 – PaLo Eurasia e-commerce both domestically and abroad PaLo Eurasia external operating income, € million Parcels BeNe E-commerce logistics Cross-border Total Parcels BeNe revenues up Revenue up € +3.8m (+9.6%) Revenue up € +28.6m (+43.1%) 1Q20 210.5 € 41.
Slide 10: Strong growth in parcels doubled EBIT and steeply improved margin – PaLo Eurasia
Strong growth in parcels efficiently handled through the mail 1Q21 – PaLo Eurasia network doubled EBIT and steeply improved margin € million Parcels & Logistics Europe and Asia External operating income 1Q20 210.5 1Q21 283.9 %↑ 34.9% Key takeaways 1Q21 Parcels BeNe 104.7 145.7 39.2% • Total operatin
Slide 11: Robust and profitable e-commerce fulfilment growth at PaLo North America
Robust and profitable e-commerce fulfilment growth at PaLo 1Q21 – PaLo N. Am. North America PaLo North America external operating income, € million E-commerce logistics International mail YoY increase of +10.7% (+20.4% at Revenue decline (-19.4%, or -11.8% 1Q20 259.9 constant exchange rate). at cons
Slide 12: Sharp EBIT increase driven by Radial North America
Sharp EBIT increase driven by Radial North America 1Q21 – PaLo N. Am. € million Parcels & Logistics North America External operating income 1Q20 259.9 1Q21 281.1 %↑ 8.2% Key takeaways 1Q21 E-commerce logistics 238.0 263.5 10.7% • Total operating income increase of € +20.8m or +7.9% (+17.4% at Intern
Slide 13: Corporate EBIT almost neutral as building sales compensate net costs
Corporate EBIT almost neutral as building sales 1Q21 – Corporate compensate net costs € million Corporate External operating income 1Q20 6.4 1Q21 7.9 %↑ 24.3% Key takeaways 1Q21 Intersegment operating income 90.4 102.6 13.5% • External revenues up € +1.6m driven by higher building sales. Total opera
Slide 14: Solid cash flow from operating activities before SGEI payment calendar
Solid cash flow from operating activities before SGEI payment 1Q21 calendar and unwinding of temporary pandemic-related initiatives Reported ‐ € million 1Q20 1Q21 Delta + Cash flow from operating activities 203.6 157.1 -46.6 out of which CF from operating activities before ∆ in WC & provisions 137.7
Slide 15: Increased 2021 group EBIT outlook
Increased 2021 group EBIT outlook Outlook FY21 In light of the strong first quarter results, and based on current assumptions of normalization for COVID-19 volumes for the rest of the year, bpost now expects the group adjusted EBIT to be above € 310m Mail & Parcels & Parcels & Group Dividend Retail
Slide 16: Clear management priorities to accelerate transformation and deliver results
Clear management priorities to accelerate transformation and Management deliver results Preparation of the end of year (EOY) peak • Plan Q4 2021 in Q1 and Q2 2021 • Adopt measures to improve margin and capacity against last year’s EOY peak of performance, combined with budgeted investments in additi
Slide 17: The new Board of Directors is in place and CEO selection accelerated
The new Board of Directors is in place Governance and the selection of the new CEO has been accelerated Composition of the Board of Directors bpost Board of directors (as of 12 May, 2021) • The Board of Directors includes a new Board Audrey Hanard chairwoman, new independent members, and Chairperson
Slide 18: Additional info
Additional info
Slide 19: Balance Sheet
Balance Sheet 1Q21 € million € million Assets Dec 31, 2020 Mar 31, 2021 Equity and Liabilities Dec 31, 2020 Mar 31, 2021 PPE 1,138.0 1,145.9 Total equity 583.8 692.9 Intangible assets 771.7 790.4 Interest-bearing loans & borrowings 1,443.2 1,299.4 Investments in associates and joint ventures 0.1 0.1
Slide 20: Financing Structure & Liquidity
Financing Structure & Liquidity 1Q21 € million € million Available Liquidity Dec 31, 2020 Mar 31, 2021 External Funding Dec 31, 2020 Mar 31, 2021 Ca sh & c a sh eq uiva lents 9 4 8 .1 9 11.2 L o ng -ter m Cash in network 167.2 163.2 Long-term bond1 (1.25% - 07/2026) 650.0 650.0 Transit accounts 32.2
Slide 21: Key contact
Key contact Antoine Lebecq Head of Investor Relations Email: antoine.lebecq@bpost.be Direct: +32 (0) 2 276 29 85 Mobile: +32 (0) 471 81 24 77 Address: bpost group, Centre Monnaie, 1000 Brussels, Belgium 21 1Q21 Analyst Presentation