PostNL confirms 2024 outlook, swings to quarterly loss amid high labour costs (updated)
06/05/2024 06:59
(Adds outlook in paragraph 4, CEO quote in paragraph 5, details
on parcel results in paragraph 6)
By Olivier Cherfan
May 6 (Reuters) - PostNL PTNL.AS posted on Monday a
wider-than-expected loss for the first quarter, citing rising
costs in a challenging labour market, although the Dutch postal
firm maintained a steady full-year outlook.
The company, which delivers parcels and letters across
Belgium, the Netherlands and Luxembourg, reported an operating
loss before interest and taxes of 9 million euros ($9.68
million), down from a profit of 7 million euros in the year-ago
period.
Seven analysts in a company-compiled poll had forecast a
loss of 2 million euros in the reported quarter.
Still, PostNL sees full-year normalised EBIT between 80
million and 110 million euros and free cash flow between 0
million and 40 million euros.
"We are making steady progress on the strategic actions
that we announced in February and keep on adjusting our
operations and offerings to adapt to changing market
circumstances," CEO Herna Verhagen said in a statement.
PostNL's main source of income from parcel deliveries
services dipped 1% during the quarter to 555 million euros, also
missing analyst consensus of 594 million euros.
($1 = 0.9293 euros)
(Reporting by Olivier Cherfan in Gdansk; Editing by Christian
Schmollinger and Sherry Jacob-Phillips)
((olivier.cherfan@thomsonreuters.com))