Slide 1: Third quarter 2025 results
Third quarter 2025 results Analyst call Philippe Dartienne, CFO November 5th, 2025
Slide 2: Disclaimer and financial calendar
Investor presentation 3Q25 Interim financial report 3Q25 Financial Calendar Disclaimer 06.03.2026 (07:00 CET) This presentation is based on information published by bpostgroup in its Third Quarter 2025 Interim Financial Report, made available on November 5th, 2025 at 07.00am CET on bpostgroup.com/in
Slide 3: Highlights of 3Q25
Highlights of 3Q25 3Q25 Transformation on track and FY25 outlook confirmed at € ~180m. Quarterly performance reflects seasonal softness and anticipated Radial churn. Group operating Last Mile 3PL Cross-border income € -9.4m (€ -4.9m) € -1.7m (€ -13.0m) € 17.2m (€ +0.5m) € 1,029.6m (€ +4.5m) -1.8% EB
Slide 4: Key financials 3Q25
Key financials 3Q25 3Q25 € million Reported Adjusted1 1 Amortization and impairments of 3Q24 3Q25 3Q24 3Q25 D% intangibles recognized during PPA Total operating income 1,025.1 1,029.6 1,025.1 1,029.6 0.4% are adjusted, leading to increase in Operating expenses 936.5 940.0 928.3 940.0 1.3% EBIT (€ +9
Slide 5: Lower revenues as mail decline outweighs continued parcel volume growth
Lower revenues as mail decline outweighs continued 3Q25 – Last Mile parcel volume growth Last Mile revenues, € million Domestic Mail Parcels Belgium Proximity and 3Q24 521.7 Revenues down € -15.9m (-5.8%): Parcels revenues up € +4.1m (+3.2%): convenience retail • € -9.7m (-4.6%) lower revenues in •
Slide 6: EBIT decline limited by parcel growth and reorganizations
EBIT decline limited by parcel growth and reorganizations 3Q25 – Last Mile € million BeNe Last Mile 3Q24 3Q25 D% Key takeaways 3Q25 Transactional 165.5 157.8 -4.7% Advertising 43.5 41.5 -4.6% • Total operating income slightly down € -7.6m (-1.4%), including Press 64.4 58.3 -9.6% higher intersegment
Slide 7: Staci contribution and e-commerce logistics expansion in Europe offset churn in North America
Staci contribution and e-commerce logistics expansion in Europe 3Q25 – 3PL offset churn in North America 3PL revenues, € million 3PL Europe 3PL North America Revenues up € +62.3m: Radial N. Am. revenues down € -58.2m (-29.6% or -24.2% excl. FX) from: 3Q24 362.8 • Consolidation impact of Staci (acqui
Slide 8: EBIT decline reflects seasonal softness and anticipated churn weighing on Radial US's fixed cost absorption
EBIT decline reflects seasonal softness and anticipated churn 3Q25 – 3PL weighing on Radial US’s fixed cost absorption € million 3PL 3Q24 3Q25 D% Key takeaways 3Q25 3PL Europe 165.8 228.1 37.6% 3PL North America 197.0 138.8 -29.6% • Nearly stable Total operating income (€ +3.9m or +1.1%), including
Slide 9: Strong growth in Asian and domestic Canadian volumes
Strong growth in Asian and domestic Canadian volumes 3Q25 – Cross-border Cross-border revenues, € million Cross-border Europe Cross-border N. Am. Revenues up € +11.3m (+14.0%) Stable revenues (€ +0.8m or +1.4% 3Q24 136.0 mainly from: incl. c. -6% FX impact) reflecting: • Solid growth in Asian volume
Slide 10: EBIT increase from strong Asian volumes
EBIT increase from strong Asian volumes 3Q25 – Cross-border € million Global Cross-border 3Q24 3Q25 D% Key takeaways 3Q25 Cross-border Europe 80.6 91.9 14.0% Cross-border North America 55.4 56.2 1.4% • Total operating income up € +12.0m or +8.7% Intersegment and other 1.6 1.6 -0.3% Total operating i
Slide 11: Cost containment offsets higher payroll costs
Cost containment offsets higher payroll costs 3Q25 – Corporate € million Corporate 3Q24 3Q25 D% Key takeaways 3Q25 External operating income 1.0 1.2 17.0% Intersegment Operating Income 94.9 112.6 18.6% • Stable external operating income (€ +0.2m) Total operating income 95.9 113.8 18.6% Operating exp
Slide 12: Improved net cash flow mainly driven by last year's partly cash-funded acquisition of Staci
Improved net cash flow mainly driven by last year’s 3Q25 partly cash-funded acquisition of Staci € million - Adjusted 3Q24 3Q25 D Cash flow from operating activities before Δ in WC and provisions 78.0 71.1 -7.0 1 Change in working capital and provisions 0.5 16.6 16.1 2 Cash flow from operating activ
Slide 13: Financial outlook FY25
Financial outlook Outlook FY25 FY25 Group EBIT outlook FY25 reaffirmed Based on first three quarters’ performance, bpostgroup today confirm its full-year outlook at € ~180m, reflecting current expectations for 4Q25: • Preparation and readiness for peak execution across the group • North America: Cli
Slide 14: Update on strategic initiatives for 2025
Update on strategic initiatives for 2025 3Q25 bpostgroup continues to accelerate its transformation to become an international logistics parcel operator, delivering tangible progress across all segments BeNe Last Mile 3PL • Night Delivery product launched for Technicians and Europe Wholesalers, as p
Slide 15: Additional info
Additional info
Slide 16: Adjusted vs. reported Cash Flow Statement
Adjusted vs. reported Cash Flow Statement 3Q25 € million Reported Adjusted 3Q24 3Q25 D 3Q24 3Q25 D Cash flow from operating activities before Δ in WC and provisions 78.0 71.1 -7.0 78.0 71.1 -7.0 Change in working capital and provisions 1.3 16.1 14.8 0.5 16.6 16.1 1 Cash flow from operating activitie
Slide 17: Balance Sheet
Balance Sheet 3Q25 € million € million Assets Dec 31, 2024 Sept 30, 2025 Equity and Liabilities Dec 31, 2024 Sept 30, 2025 Property, Plant and Equipment 1,627.7 1,492.9 Total equity 860.0 708.6 Intangible assets 1,945.5 1,818.8 Interest-bearing loans & borrowings 2,547.6 3,032.6 Investments in assoc
Slide 18: Financing Structure & Liquidity
Financing Structure & Liquidity 3Q25 € million € million Available Liquidity Dec 31, 2024 Sept 30, 2025 External Funding Dec 31, 2024 Sept 30, 2025 Ca sh & c a sh eq u iv a l en ts 747.4 1,225.3 L o n g -term 1,653.5 2,214.3 1 Cash in network 133.8 141.4 Long-term bond (1.250% - 07/2026) 650.0 462.8
Slide 19: 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: bpostgroup, Boulevard Anspach 1, 1000 Brussels, Belgium 19