Financial strategy
PostNL's financial framework is based on:
- Steering for a solid balance sheet with a positive consolidated equity
- Aiming at a leverage ratio (adjusted net debt/EBITDA) not exceeding 2.0x
- Strict cash flow management.
Capital structure
Capital management is focused on the following components of the current capital structure:
- targeting a leverage ratio (adjusted net debt/EBITDA) not exceeding 2.0x;
- structural availability of € 100 - € 200 million of undrawn committed facilities out of our revolving credit facility;
- structural funding via a combination of public and bank debt, with a risk-weighted mix of fixed and floating interest;
- cash pooling systems that ensure optimal cash requirements for the PostNL Group by facilitating centralised funding and surplus cash concentration at group level;
- tax-optimal internal and external funding focused on optimising the cost of capital for PostNL, within boundaries that are sustainable on a long-term basis.
Credit rating PostNL
| S&P Global Ratings | |
|---|---|
| Long-term | BBB |
| Outlook | negative outlook |
| Short-term | A-2 |
| Last updated | 29 April 2024 |
PostNL manages its financial position along a cash flow to debt and a debt to EBITDA ratio.