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. 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.