PostNL : Preview Q2 23 (7 August)
>Q2 23 looks like more of the same (which is good) - We previously marked 2023 a ‘transition year’ for PostNL, given the need for heightened focus on the cost base. As such, our estimates reflected a fair bit of uncertainty. Nonetheless, Q1 23 was better than what we initially anticipated, and Q2 looks set for the same, mainly given positive company commentary regarding parcels volumes. Normalised earnings for the second quarter will once again be a function of inflat...PostNL is a mail, parcel and e-commerce corporation with operations in the Netherlands, Germany, Italy, Belgium, and the United Kingdom. Co. has been assigned by the Dutch government to carry out the UPD (Universele Postdienst, Dutch for Universal Postal Service). Carrying out the UPD requires, amongst other things, Co. to deliver mail throughout the Netherlands five days a week (Tuesday through Saturday) and to maintain enough mailboxes in the country. ACM is charged with monitoring and enforcing the execution by Co. Co.'s operations are organized along three business segments: Mail in the Netherlands; Parcels; and International. Co. maintains over ten networks across thirteen countries.
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