PostNL provides update on its 2023 performance
Q4 & FY 2023 preliminary results
The Hague, 26 January 2024
PDF press release (EN)
PDF persbericht (NL)
| FY 2023 outlook | |||||||
In € million | Q4 2022 | Q4 2023 | FY 2022 | FY 2023 | Initial (27 February 2023) | Revised (7 August 2023) | 6 November 2023 |
| Normalised EBIT | 60 | 77 | 84 | 92 | 70 - 100 | 100 - 130 | Key financial indicators to come in at the low end of the guided ranges |
| Normalised comprehensive income | 41 | 42 | 90 | 52 | 40 - 70 | 65 - 95 | |
| Free cash flow | 79 | 143 | 40 | 52 | 10 - 40 | 10 - 40 | |
Please note that all numbers are unaudited and subject to change.
- Normalised EBIT FY 2023 expected at around €92 million
- Strong 2023 free cash flow at €52 million
- Expected leverage ratio 2023 around 1.7x, providing a solid base for dividend
CEO statement
Herna Verhagen, CEO of PostNL, commented: “FY 2023 normalised EBIT is expected to come in around €92 million, in line with the initial outlook, but below our latest guidance. Our focus on capex and strict working capital management contributed to a strong cash flow performance, with FY 2023 at €52 million, well above our outlook.
“In the fourth quarter market conditions remained volatile. Whilst parcel volumes were up, we delivered less parcels than expected, while at the same time we had locked-in costs to be able to operate at maximum capacity. Volumes from international customers increased again and domestic volumes were lagging. Our mail volumes were fairly resilient. But both at Parcels and at Mail in the Netherlands the shift in mix was less favourable. And the high illness rate remained a matter of concern and put more pressure on costs than anticipated. Nevertheless, I am proud to see that thanks to the close collaboration with our customers and our network preparations, we delivered millions of season’s greetings and parcels to deliver special moments to the consumer.
“We remain confident in our longer term strategy and the growth potential of the e-commerce market. On 26 February, we will provide full details for Q4 & FY 2023 and an outlook for 2024.”
About PostNL
We are PostNL, here for everyone, bringing it all together for 225 years. With an extensive network of nearly 5,800 PostNL points, 11,000 letterboxes, and over 900 automated, also open to various carriers, along with millions of users of the PostNL app, we're always close by. We aim to be everyone's favourite deliverer by making it as easy as possible to send and receive parcels and mail. With nearly 34,000 colleagues working with us, we are part of society. We offer a range of services, including mail and parcel delivery, logistic e-commerce solutions, and cross-border solutions. On an average weekday in the Benelux, we deliver 1.1 million parcels and 6.9 million letters. We are commitment to customer satisfaction, providing opportunities for our employees, and generating value for our stakeholders through growth, digitalisation, and sustainability.
We optimise and support our physical networks through the use of smart digital solutions and introduce new propositions that add value for our customers. And aim for sustainable employment relationships by being a good employer to all people working with and for us. We focus on sustainability, making many journeys on foot and by bicycle, increasingly using cleaner fuels and electric vehicles, and offering innovative city logistics. PostNL N.V. is a publicly traded company with a turnover of €3.2 billion in 2023, 62% of which e-commerce related.