Bpost SA Strategy Update and Capital Allocation Transcript
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Good morning, ladies and gentlemen. Welcome to all of you, and thank you for joining us. I'm pleased to be here to present you bpost Group's Updated Strategy and Attuned Capital Allocation. I assume you already had the opportunity to read through the materials, which we have posted this morning on our website. Leen Geirnaerdt, our group CFO; and myself will first walk you through the presentation, and we'll then afterwards, take your questions.
We are operating in a new, less predictable reality. We have to cope with a number of exogenous factors, that we can't control fully, of which digitization is a major one and offering opportunities and threats. Mail volume is continuously declining and accelerating as a result of this digitization. Excluding COVID-19, we were expecting a volume decline for 2020, between minus 9% and minus 11%. And year-to-date September, we were at minus 12.2%. Consequently, our adjusted EBIT has declined over the last 3 years, with 2020 also expected
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