PostNL : Preview Q3 24 (4 November)
>We lower our near term estimates - PostNL’s results so far this year have been trending below our initial expectations, mainly on the back of negative mix effects and the company’s inability to match inflationary pressures. The company maintained its FY24 outlook (a.o. normalised EBIT of € 80-110m and € 0-40m free cash flow) though we believe these target to be challenging. We remain cautious as the above mentioned trends will continue to impact results, with PostNL ...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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