PostNL misses parcel volume expectations on unfavourable mix effects (updated)
05/08/2024 06:45
(Recasts with parcel volume in paragraphs 1-2, adds outlook in
paragraph 4, CEO comments in paragraph 3 and 5)
Aug 5 (Reuters) - Dutch postal firm PostNL PTNL.AS
reported second-quarter parcel volumes below market expectations
on Monday, hit by an unfavourable shift in the price mix and
weather conditions that negatively affected the e-commerce
market.
PostNL delivered 92 million parcels during the quarter,
around 6% more than last year, but below the 7% increase
expected by analysts.
"Cost increases put pressure on our results as anticipated,"
CEO Herna Verhagen said in a statement.
PostNL, which delivers parcels and letters across Belgium,
the Netherlands and Luxembourg, said it still expects its
normalised earnings before interest and tax (EBIT) to come
between 80 million and 110 million euros ($87.5 million and
$120.2 million) and free cash flow between break-even and
positive 40 million euros this year.
"We are continuing to adjust our operations and offerings
with a consistent focus on customer excellence, strict cost
control and capacity management, aiming at a step-by-step margin
expansion," Verhagen said.
PostNL posted a normalised EBIT of 18 million euros for the
second quarter, stable compared to a year earlier, while
analysts were expecting 14 million euros on average.
($1 = 0.9148 euros)
(Reporting by Olivier Cherfan in Gdansk; editing by Christian
Schmollinger and Milla Nissi)
((olivier.cherfan@thomsonreuters.com))