Bpost parent company scraps dividend again after annual loss
Bnode, the parent company of bpost, will not pay a dividend for the second year in a row after reporting another annual loss.
The Belgian postal and logistics group recorded a net loss of 39.4 million euros in 2025. Although still negative, the result was a clear improvement from the 204 million loss in 2024.
The company said the loss was mainly due to one-off costs, including restructuring its property portfolio, simplifying technology at its North American subsidiary Radial North America, and higher interest costs linked to the 1.3 billion euro acquisition of Staci in France.
Despite the loss, revenue rose 3.2 per cent to 4.48 billion euros. However, adjusted operating profit fell by about 20 per cent to 179.7 million euros.
In Belgium, the traditional post business continued to struggle. Letter volumes dropped 10 per cent, reflecting the ongoing decline in paper mail, while parcel volumes increased by 2 per cent. Strikes and the end of newspaper and magazine delivery contracts also hurt results. Operating profit in the Belgian postal division fell by about half to 67 million euros, while revenue dropped to 2.26 billion.
Chief executive Chris Peeters is restructuring the group and focusing on logistics growth. The company has reduced its structure to three main divisions: bpost, logistics arm Paxon and international shipping unit Landmark Global.
However, Paxon, which includes Staci and Radial, delivered weaker results than expected, showing that the shift from a traditional postal company to a logistics group is still in progress.
For 2026, Bnode expects adjusted operating profit to be between 165 and 195 million euros, broadly in line with the 2025 result.
© BELGA PHOTO DIRK WAEM
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