Slide 1: Fourth quarter 2022 results Analyst call
Fourth quarter 2022 results Analyst call Philippe Dartienne, CEO a.i. Koen Aelterman, CFO a.i. February 24th, 2023
Slide 2: Disclaimer and financial calendar
Investor presentation 4Q22 Interim financial report 4Q22 Financial Calendar Disclaimer 16.03.2023 This presentation is based on information published by bpost group in its Fourth Quarter 2022 Interim Financial Report, made available on February 23rd, 2023 at 5.45pm CET on bpostgroup.com/investors. T
Slide 3: Highlights of FY22
Highlights of FY22 FY22 Group EBIT in line with initial guidance, despite adverse market circumstances, thanks to mitigating actions taken throughout the year Thanks to mitigating actions including increased sales efforts, price increases and cost reductions, Group operating bpostgroup absorbed with
Slide 4: Highlights of 4Q22
Highlights of 4Q22 4Q22 Operational planning and peak execution allow delivery of a strong quarter despite low consumer confidence and inflation headwinds Group operating Belgium E-Logistics Eurasia E-Logistics N. Am. income € 1,301.6m € 41.6m € 5.4m € 43.1m up 0.1% 7.1% EBIT margin 3.1% EBIT margin
Slide 5: Key financials 4Q22
Key financials 4Q22 4Q22 € million Reported Adjusted1 4Q21 4Q22 4Q21 4Q22 D% 1 Amortization and impairments of Total operating income 1,299.7 1,301.6 1,299.7 1,301.6 0.1% intangibles recognized during PPA are adjusted, leading to Operating expenses 1,148.7 1,158.5 1,148.7 1,155.9 0.6% increase in EB
Slide 6: Resilient revenues across the board and strong commercial momentum in Parcels
Resilient revenues across the board and strong commercial 4Q22 – Belgium momentum in Parcels Belgium external operating income, € million Domestic Mail Parcels Belgium +1.5% 4Q21 594.7 Stable operating income from: Parcels Belgium revenue up € +6.1m (+4.7%): • € -20.9m volume (-7.5% underlying volum
Slide 7: Successful execution of year-end peak and continued FTE reduction partly mitigate inflation of payroll costs
Successful execution of year-end peak and 4Q22 – Belgium continued FTE reduction partly mitigate inflation of payroll costs € million Belgium 4Q21 4Q22 %↑ Key takeaways 4Q22 External operating income 594.7 569.8 -4.2% Transactional 190.0 184.5 -2.9% • Total operating income up € +14.5m (+2.5%) exclu
Slide 8: Continued growth at Radial Europe and Active Ants and higher cross-border revenues
Continued growth at Radial Europe and Active Ants and higher 4Q22 – E-Log. Eurasia cross-border revenues from recent customer wins and IMX integration E-Logistics Eurasia external operating income, € million E-commerce logistics Cross-border Revenue up € +5.5m (+7.9%): Revenue up € +8.1m (+9.7%) mai
Slide 9: Stable EBIT as top-line growth mitigates inflation and expansion initiatives
Stable EBIT as top-line growth mitigates inflation and 4Q22 – E-Log. Eurasia expansion initiatives € million E-Logistics Eurasia 4Q21 4Q22 %↑ Key takeaways 4Q22 External operating income 152.7 166.3 8.9% E-commerce logistics 69.6 75.1 7.9% • Total operating income up € +13.7m (+8.6%) Cross-border 83
Slide 10: North American market volume pressure during 2022 peak impacts Radial
North American market volume pressure during 2022 peak 4Q22 – E-Log. N. Am. impacts Radial E-Logistics N. America external operating income, € million E-commerce logistics Radial NA revenues (m$) YoY increase of +2.9% or -7.1% at in perspective constant exchange rate 4Q21 545.2 -9% Landmark US recor
Slide 11: Peak planning and execution lead to underlying EBIT improvement
Peak planning and execution lead to underlying 4Q22 – E-Log. N. Am. EBIT improvement € million E-Logistics North America 4Q21 4Q22 %↑ Key takeaways 4Q22 External operating income 545.2 561.2 2.9% E-commerce logistics 545.2 561.2 2.9% • Total operating income up € +15.6m, +2.9% International mail 0.0
Slide 12: Radial North America in perspective
Radial North America in perspective E-Log. N. Am. Continued year-over-year improvement with Radial North America now firmly established Radial North America adjusted financials, excluding one-offs1 in m$ 1,404 • FY22 revenue1 up +50.2% vs. FY19 (2019-22 CAGR of 14.5%) 1,340 even including post-COVID
Slide 13: Decrease in opex reflects continued FTE reduction and cost management measures
Decrease in opex reflects continued FTE reduction and cost 4Q22 – Corporate management measures despite salary indexations € million Corporate 4Q21 4Q22 %↑ Key takeaways 4Q22 External operating income 7.1 4.4 -38.1% Intersegment operating income 106.2 98.8 -6.9% • External revenues down € -2.7m from
Slide 14: Stable operational cash flow further supported by payment schedule of SGEI compensation
Stable operational cash flow further supported by 4Q22 payment schedule of SGEI compensation and withholding tax on payroll € million - Adjusted 4Q21 4Q22 D Cash flow from operating activities before Δ in WC and provisions 137.3 140.6 3.3 1 Change in working capital and provisions 11.9 147.1 135.2 2
Slide 15: Management priorities 2023
Management priorities 2023 Management In line with group ambition to be a global e-commerce & logistics service provider, with a sustained Belgian anchor, and recognized as a sustainable reference • Develop into a leading international e-commerce and logistics service provider bpostgroup • Reinvent,
Slide 16: Belgium – Update on Press Concessions
Belgium – Update on Press Concessions For more detail, including regarding potential impacts, please refer to Financial Report as published on our website on February 23, 2023 2023 • In November, the existing concession (2016 – 2020) was further extended to end 2023 at the same terms as in previous
Slide 17: Outlook for 2023 - Adjusted EBIT of € 240-260m
Outlook for 2023 - Adjusted EBIT of € 240-260m1 Outlook FY23 bpostgroup transformation continues. Sales, pricing, cost and productivity levers key to face market pressures Belgium E-Logistics Eurasia E-Logistics N. Am. Group 3-5% growth2 in total operating Low double digit % growth in total Slightly
Slide 18: Additional info
Additional info
Slide 19: Adjusted vs. reported Cash Flow Statement
Adjusted vs. reported Cash Flow Statement 4Q22 € million Reported Adjusted 4Q21 4Q22 D 4Q21 4Q22 D Cash flow from operating activities before Δ in WC and provisions 137.3 140.6 3.3 137.3 140.6 3.3 Change in working capital and provisions 14.3 193.5 179.2 11.9 147.1 135.2 1 Cash flow from operating a
Slide 20: Balance Sheet
Balance Sheet 4Q22 € million € million Assets Dec 31, 2021 Dec 31, 2022 Equity and Liabilities Dec 31, 2021 Dec 31, 2022 Property, Plant and Equipment 1,263.5 1,398.9 Total equity 885.3 1,065.4 Intangible assets 797.0 855.8 Interest-bearing loans & borrowings 1,377.7 1,488.2 Investments in associate
Slide 21: Financing Structure & Liquidity
Financing Structure & Liquidity 4Q22 € million € million Available Liquidity Dec 31, 2021 Dec 31, 2022 External Funding Dec 31, 2021 Dec 31, 2022 Ca sh & c a sh eq u iv a l en ts 907.5 1,051.0 L o n g -term 813.3 650.0 1 Cash in network 149.9 143.9 Long-term bond (1.25% - 07/2026) 650.0 650.0 Transi
Slide 22: 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 22