PostNL rises after solid first-half results, new savings identified
BUZZ-PostNL rises after solid first-half results, new savings identified ** Shares of Dutch mail and parcels deliverer PostNL PTNL.AS rises 7.4% after H1 report
** "PostNL showed a rather solid performance in challenging trading conditions," Degroof Petercam says
** KBC echoes the view, adding that volume pressure was offset by pricing
** Revenues remaining stable while the normalized EBIT improved by €2 mln to €-3mln, ahead of expectations, KBC says
** Normalised EBIT was driven by lower-than-expected losses at Mail, while E-commerce and Platforms missed, with E-commerce parcel volumes down -4% domestically and -15% internationally on weaker Asian webshop activity, Degroof Petercam notes
** Free cash flow came in at €-17 MLN vs €-77 MLN expected, as tighter working capital discipline and favorable phasing effects delivered a €63m beat
** KBC also notes the group has identified additional cost savings of €75 MLN for 2027-28, especially in e-commerce, bringing the total cost savings to between €170-180MLN on this period
** Degroof Petercam adds the group is on track to meet its FY26 guidance, "but as usual, it is heavily dependent on the end of year peak"
** Share on track for a best day since January 2026 , when it closed 8.3 % higher
(Reporting by Ronan Corcoran in Gdansk)