Mail, Parcel & Distribution Q1-24 segment revenues are up 4.6% y/y to €934m.
Mail revenues in Q1-24 were up 3.0% y/y to €535m supported by repricing actions and an improved product mix, offsetting lower volumes, down 9.2% y/y, with average prices up 12.2% in the quarter.
Parcel revenues recorded a solid growth of 10.0% y/y to €368m (+14% excluding the impact of COVID logistics mandate gradual phase-out and one-off effects, mainly related to sennder Italia deconsolidation), supported by increasing B2X volumes (69.1m items in Q1-24, up 22.2% y/y).
In Q1-24, strong Parcel volumes growth to 71.1m items, up 21.5% y/y compared to 58.5m in the first quarter of 2023.
Distribution revenues in Q1 were broadly stable (-0.8% y/y) at €1.4bn, up 9% excluding the impact of active portfolio management and reflecting higher network costs.
Segment EBIT down 53.1% y/y in Q1-24 to €41m, with an unfavorable comparison with Q1-23, benefitting from a higher contribution from Active Portfolio Management revenues1, net of which is up by €71m in the quarter.
