- 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."
We are PostNL. The postal and logistic solutions provider. For our customers, we are the link between the physical and the online world. We facilitate communications between people and companies. We deliver parcels seven days a week and letters five days a week. On an average day, we deliver 575,000 parcels and 9 million letters throughout the Benelux. We offer more and more new services through combinations of smart networks, digital applications and the right communications channels. In doing so, we aim to make the daily lives of our customers easier.
As the first listed postal company, we have the largest and most modern network for letters, parcels and e-commerce in the Benelux countries. In addition, we also operate in Germany, Italy and eight other countries across the world. PostNL employs a total of 46,000 people. With our loyal workforce, extensive networks and innovative drive, our ambition is to be the leading postal and logistics solutions provider in chosen markets. In 2016 our revenues reached €3,4 billion.