PostNL reports normalised EBIT of €10 million for Q2 2022
The Hague
PDF press release (EN)
PDF persbericht (NL)
Financial highlights Q2 2022
In € million | Q2 2021 | Q2 2022 | % Change | HY2021 | HY2022 | % Change |
Revenue | 838 | 746 | -11% | 1,800 | 1,552 | -14% |
Normalised EBIT | 63 | 10 | -84% | 193 | 43 | -78% |
assumed to be non-recurring and related to Covid-19 | 26 | (0) | 69 | 0 | ||
Free cash flow | 54 | (43) | 213 | 10 | ||
Normalised comprehensive income | 57 | 19 | -67% | 169 | 53 | -69% |
Key takeaways Q2 2022
- High inflation and pressure on consumer spending impacted costs and development e-commerce volume
- Domestic volume growth at Parcels ~3%, excluding non-recurring impact related to Covid-19; overall, volumes -12.6% reflecting no further Covid-19 impact and development in cross-border activities
- Volumes at Mail in the Netherlands -7.4%, slightly better than expected
- Free cash flow performance reflects step-down in normalised EBIT and working capital phasing
- 20% improvement in carbon efficiency
- Interim dividend 2022 set at €0.14 per share
- Outlook FY 2022:
- normalised EBIT revised to €145 million - €175 million
- free cash flow of €110 million - €140 million, at lower end of initial range
CEO statement
About PostNL
We are PostNL, the mail and logistics solutions provider for all. With our mail and parcel deliverers who get everywhere, our over 4,800 PostNL locations and 11,000 postboxes, we are always nearby. We aim to be our customers’ favourite deliverer by making it as easy as possible for them to send and receive parcels and letters. Our over 37,000 people are right at the heart of society. On weekdays, we deliver an average 1.2 million parcels and 8 million letters across the Benelux region. Our focus is on quality for our customers, creating opportunities for our people and adding value for our stakeholders through growth, digitalisation and sustainability initiatives.
We optimise and support our physical networks by using smart digital solutions and launching new propositions that create value for our customers. We build long-lasting working relationships by acting as a good employer and client for everyone who works for and with us. To make our deliveries as sustainable as possible, we cover a lot of kilometres on foot or by bicycle or e-bike, provide innovative city logistics, use cleaner fuels, and use electric vans and light electric trucks. PostNL NV is a listed company with revenues of €3.5 billion in 2021. We provide deliveries of mail and parcels, logistics solutions for e-commerce, and cross-border solutions.