Bnode, the group behind bpost, cuts its 2026 profit target for a second time and sees its share price drop below one euro

Bnode, the parent company of bpost, now expects adjusted operating profit (EBIT) of 95 to 105 million euros for this year. The group initially targeted 165 to 195 million euros and had already lowered that to around 140 million in August, Made in reported. In the third quarter Bnode posted an adjusted operating loss of 21.2 million euros on revenue of just over 1 billion euros, 2.3 percent less than a year earlier.

At bpost in Belgium, revenue fell 4.4 percent to 510 million euros and adjusted EBIT came in at minus 29.2 million euros, Transportmedia wrote. Letter and newspaper volumes shrank 16.4 percent, while parcels grew 1.3 percent. The end of a contract to manage the so-called 679 accounts also weighed on revenue. Landmark Global, the international shipping arm, saw operating profit fall 43 percent to 9.8 million euros. CEO Chris Peeters points to slower parcel growth and commercial delays. Nicolas Baise takes over at the head of bpost on 1 January.

On the Brussels stock exchange the shares lost almost 20 percent at Friday's open, to just under one euro, and KBC Securities and Degroof Petercam cut their price targets, MarketScreener reported. It came on a day when the Bel20 also gave up 1.6 percent in early trading and slipped back below 6,000 points, according to La Libre, in the wake of the sell-off in US tech stocks. The index had closed above that level for the first time on Thursday, at 6,015 points.