Full press release [258 kB]
Financial highlights Q1 2014
- Revenue flat at €1,033 million (Q1 2013: €1,036 million)
- Underlying operating income increased to €103 million (Q1 2013: €81 million)
- Underlying cash operating income increased to €77 million (Q1 2013: €23 million)
- Net cash from operating and investing activities of €23 million (Q1 2013: €(99) million)
Operational highlights Q1 2014
- Addressed mail volume Mail in the Netherlands declined by 11.5%
- High delivery quality at 97.0% (Q1 2013: 96.1%)
- Positive contribution volume/price/mix effect due to price increases
- Strong cost savings of €41 million supported by smooth implementation of the five days delivery model and a leaner overhead structure in Mail in the Netherlands
- Parcels volume grew by 5.3%
Herna Verhagen, CEO of PostNL: "We had a good start of the year with our underlying cash operating income increasing by €54 million to €77 million. The reorganisation delivered strong cost savings that came in early, thanks to the excellent execution of the transition from a six to five days delivery model and the implementation of a leaner overhead structure in Mail in the Netherlands. The cost savings, together with the price increases more than compensated for the volume decline in Mail in the Netherlands. Phasing effects over the remainder of the year will make it more difficult to replicate the strong performance of the first quarter. The result of International was positive, but below last year’s performance. Parcels performed in line with expectations. Overall, we made good progress towards our sustainable delivery 2015 targets."
* Outlook 2014 is excluding the result from the activities in the United Kingdom
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.