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- 25 October 2022
- Transport / Logistics Services
With mail and parcel volumes dropping and inflation impacting costs, PostNL’s third financial quarter results are weaker than the same period in 2021. Revenues have dropped by €20 million to €709m and operating profit (EBIT) down by €3m to €20 million.
Mail volumes have dropped by 9.3% as part of the continuing trend of mail volume falls. Parcel volumes, that normally offset the mail volume drops as it transitions to becoming a parcels operator, have dropped by 1.1%. Parcel revenues dropped €1m to €505 million.
In explanation the Dutch postal operator said, “The global macroeconomic environment has further deteriorated, impacting many industries. Inflation has increased, with The Netherlands reaching a record-high level of almost 15% in September, while consumer confidence has dropped to an all-time low. This is negatively impacting consumer spending and is expected to continue in the quarters to come.”
Overall volumes of parcels were expected to level off as online shoppers returned to their pre-pandemic habits. However, PostNL said that the macroeconomic factors have further impacted volumes, leading to a sharper than expected slowdown.
Looking ahead, the postal operator has revised down its forecasts for the coming peak season, saying that volumes for this coming quarter will be in line with Q4, 2021.
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