- Underlying revenue stable at €1,035 million (Q2 2012: €1,040 million)
- Underlying cash operating income €22 million (Q2 2012: €10 million)
- Addressed mail volume Mail in the Netherlands -11.3%
- Net debt of €1,373 million compared to €1,327 million at the end of Q1 2013
- Coverage ratio main pension fund 100.2%
Herna Verhagen, CEO of PostNL: "Overall Q2 results were above expectations and in line with the increased outlook for 2013, as expressed in May, of underlying cash operating income of between €50 million and €90 million.
The underlying results of Mail in the Netherlands improved compared to last year mainly due to large incidental and restructuring costs in 2012. We saw a higher than expected addressed volume decline because of the economic situation and competition. At the same time the reorganisation is tightly managed and ahead of schedule, resulting in higher cost savings. Since the start of the new roll-out we migrated 79 depots of the planned 125, of which 44 in this quarter, while quality remained at a high level. We also made progress in the reorganisations of production staff, marketing & sales and overhead.
Another important milestone is the agreement with the unions on the extension of the social plan and three collective labour agreements, all important steps for the successful implementation of the reorganisation.
Parcels showed good volume and revenue growth. The implementation of the new logistic infrastructure continues according to plan. In International all countries showed good volume and revenue growth leading to a positive contribution to underlying cash operating income.
Looking back at the first half year, we can conclude that PostNL is on track towards achieving the 2015 targets."
PostNL is the inventive partner in the world of sending and receiving. We have been so for 200 years already. We are primarily active in the fields of mail, parcels and e-commerce, but we also offer services in the areas of data and document management, direct marketing and fulfilment. Outside the Netherlands, we are active in Germany, the United Kingdom, Italy, Belgium and Luxemburg. PostNL employs a total of more than 59,000 people. In 2013 our revenues reached € 4.3 billion.
We like to stay ahead of things. We are the most modern postal company in the world. We are proud of that. As the first listed postal company, we are an example to the rest of the world in automatic letter sorting. And our innovative parcels network is completely adapted to the wishes of web retailers.