We have updated our model post FY24 reporting and we included the restated segment reporting with Real Estate sales and results now included in Parcels versus in MailNL previously. Note that PostNL guided for an underlying EBIT for FY25F of c.€53m, ie, in line with FY24. We estimate €48m, which is a significant downgrade vs the pre-FY24 results estimate of €98m. We feel that the outlook for FY25 is not without downside risk as (a) much will depend on a strong 4Q as we expect a rather soft start ...
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.