PostNL falls after Q1 miss as labour costs rise, Mail volumes drop
** Shares in PostNL PTNL.AS fall 3.9% after the Dutch postal operator published a worse-than-expected normalised operating loss before interest and taxes in Q1
** The group's EBIT swang to a loss of -9 million euros ($9.69 million) from a profit of 7 million euros last year, below analyst consensus of -2 million euros
** Jefferies ("hold") says the results were impacted by weak volumes - down 12.5% yoy in the Mail in the Netherlands unit, adverse mix effects, and wage increases
** KBC ("hold") deems results "soft" and volumes "disappointing"
** However, PostNL confirmed its 2024 guidance, which Jefferies says the stamp price increase announced on Monday and the accelerating parcel volume growth could contribute to
** Shares are on track for their worst day in nearly three weeks
($1 = 0.9289 euros)
Reporting by Olivier Cherfan
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
