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, here for everyone, bringing it all together for 225 years. With an extensive network of nearly 5,700 PostNL points, 10,000 letterboxes, and around 1,100 automated parcel lockers, 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 over 32,000 colleagues working with us, we are part of society. On an average weekday, we deliver 1.2 million parcels and 6.3 million letters.
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 €3.3 billion in 2024.