PostNL : Mail and parcels drive exceptional 1Q results, raise FY21 normalised EBIT by 34%
>1Q21 exceptionally strong, double what the street had modelled - PostNL issued a positive profit warning and raised its FY21 guidance. The company now expects 2021 normalised EBIT of at least €250m (previously €205-225m) and free cash flow of at least €225m (previously €200-230m). 1Q21 was exceptionally strong, with revenues of about €960m (c. 37% revenue growth), normalised EBIT of about €130m and free cash flow of about €160m. Normalised EBIT was almost double what...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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