PostNL : Dividend floor set and additional excess cash ahead
>Strong 1Q21, stable Mail earnings, and continuing surge in parcel volumes to increase 2021 normalised EBIT by 11% - We expect PostNL to continue to profit from a surge in parcel volumes in 2021, especially in 1Q21. With the lockdown and closure of non-essential retail (except for shopping by appointment) set to continue, we also expect upside on the 2Q21 normalised EBIT guidance. We are slightly ahead of PostNL’s parcel normalised EBIT guidance. Based on the signific...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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