Underlying cash operating income increased by €8 million to €41 million in Q2 2019
Financial highlights Q2 2019
- Revenue increased to €681 million (Q2 2018: €666 million)
- Underlying cash operating income grew to €41 million (Q2 2018: €33 million)
- Profit from continuing operations increased to €25 million (Q2 2018: €9 million)
- Net cash from/(used in) operating and investing activities improved to €21 million (Q2 2018: €(45) million)
- 51% of our revenue in HY 2019 related to e-commerce
Operational highlights Q2 2019
- 13% volume growth in Parcels
- Addressed mail volume declined by 9.0%; adjusted decline 9.8% (corrected for one extra working day)
- Delivery quality stable at 95%
- €12 million in cost savings achieved, continuing run-rate
Interim dividend announced and outlook 2019 reiterated
- 2019 Interim dividend set at €0.08 per share
- Expected full-year 2019 underlying cash operating income reiterated at between €170 million and €200 million
- Agreement reached to sell Postcon business, closing expected before year-end 2019
- Second phase investigation by ACM in progress
Herna Verhagen, CEO of PostNL: “Underlying cash operating income increased to €41 million in Q2 and we confirm our outlook for 2019. In line with our dividend policy and taking into account our financial results in HY 2019, we have set the interim dividend for 2019 at €0.08 per share. In the first half of 2019, 51% of our revenue came from activities related to e-commerce.
Executing our strategy to focus on our core markets in the Benelux region, we made good progress with the divestment processes of Nexive and Postcon. This morning we announced that we have reached agreement to sell the activities of Postcon. We expect to complete the transaction before year-end 2019.
We are currently awaiting the ACM’s final decision on the intended consolidation by combining the postal networks of PostNL and Sandd. If ACM does not grant a licence for consolidation, the parties intend to ask the State Secretary for Economic Affairs for approval based on material grounds of general importance as defined in Article 47 of Dutch competition law.”
Published on the 5th of August at 07.00 am
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.