Financial framework

Financial strategy

PostNL's financial framework is based on:

  • Steering for a solid balance sheet with a positive consolidated equity
  • Aiming at a leverage ratio (adjusted net debt/EBITDA) not exceeding 2.0x
  • Strict cash flow management.

Capital structure

Capital management is focused on the following components of the current capital structure:

  • targeting a leverage ratio (adjusted net debt/EBITDA) not exceeding 2.0x;
  • structural availability of € 100 - € 200 million of undrawn committed facilities out of our revolving credit facility;
  • structural funding via a combination of public and bank debt, with a risk-weighted mix of fixed and floating interest;
  • cash pooling systems that ensure optimal cash requirements for the PostNL Group by facilitating centralised funding and surplus cash concentration at group level;
  • tax-optimal internal and external funding focused on optimising the cost of capital for PostNL, within boundaries that are sustainable on a long-term basis.

Credit rating PostNL

S&P Global Ratings
Outlooknegative outlook

Last updated20 December 2022

PostNL manages its financial position along a cash flow to debt and a debt to EBITDA ratio.