PostNL slips after guidance cut, CEO exit
04/11/2024 08:52
** Shares in PostNL PTNL.AS slip around 2% as the Dutch
postal operator cut its guidance after Q3 miss and announced a
CEO exit
** "The miss was largely driven by mail, where PNL continues
to be impacted by the shift to non-24h mail and increased labour
costs," says KBC
** The firm now sees a normalised operating profit of around
80 million euros for 2024, at the bottom of its previous
guidance range of 80-110 million
** "However, as the YTD EBIT stands at €-9m, a strong step
up is expected in 4Q24," KBC says, but adds that parcel volumes
are trending towards the right direction
(Reporting by Dimitri Rhodes)
((Dimitri.Rhodes@thomsonreuters.com;))