Full press release [475 kB]
Financial highlights Q2 2014
- Revenue increased by 3% to €1,016 million (Q2 2013: €991 million)
- Underlying operating income increased by 24% to €88 million (Q2 2013: €71 million)
- Underlying cash operating income increased to €60 million (Q2 2013: €23 million)
- Net cash from operating and investing activities of €(5) million (Q2 2013: €(36) million)
Operational highlights Q2 2014
- Smooth execution of restructuring plans resulted in cost savings coming in early
- Overall tight cost control
- Addressed mail volume declined by 11.2%
- Positive impact from incidentals in Mail in the Netherlands
- Parcels volume grew by 8.2%
- Evening delivery Parcels started
- New and balanced CLA PostNL
Outlook 2014 (excluding UK activities)
Herna Verhagen, CEO of PostNL: "We have further solidified the foundation of our company. We continued to have good traction with the restructuring in Mail in the Netherlands. In Q2 we migrated 22 depots with which we are now ahead of our initial target. The smooth execution of our restructuring plans resulted in cost savings coming in early. In addition, we see that the cost conscious mindset throughout the company is resulting in increased cost control. This is all achieved while maintaining high delivery quality and increased customer satisfaction.
In the second quarter the strong performance of Mail in the Netherlands was further supported by price increases, mix effects and some incidentals.
International saw revenue growth, but some challenges remain: in Germany and in the United Kingdom we are awaiting regulatory ruling for fair competition. Parcels performed as expected, based on volume growth on the back of a growing e-commerce market and moderate growth in the business market. We focus on innovation to consolidate our leading position. Extra services that we started were amongst others evening delivery. In the quarter, Parcels saw its subcontractor costs increase and, due to a change in customer mix, the average price slightly decline.
Overall, the first half year was strong and reflects the learning curve we experienced in restructuring the company and the supportive and cooperative mindset of all our employees to adapt to the changing environment. All this fuels my confidence that we will achieve our 2015 targets."
We are PostNL. We are an essential link between the physical and the online world. We have the largest network for letters, parcels and e-commerce in the Benelux countries. Our combinations of smart networks and digital applications enable us to provide our clients with valuable solutions. We live in a world where digital applications play an increasingly large role in our daily lives. These services develop very rapidly. We put our resourcefulness to good use to constantly think up new ways to connect senders and receivers.
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. Outside the Netherlands, we are active in Germany, the United Kingdom, Italy, Belgium and Luxembourg. PostNL employs a total of approximately 59,000 people. In 2013 our revenues reached almost € 4.3 billion.