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PostNL confirms 2024 outlook, swings to quarterly loss amid high labour costs
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PostNL confirms 2024 outlook, swings to quarterly loss amid high labour costs
May 5, 2024 11:10 PM

May 6 (Reuters) - PostNL posted on Monday a

wider-than-expected loss for the first quarter, citing rising

costs in a challenging labour market, although the Dutch postal

firm maintained a steady full-year outlook.

The company, which delivers parcels and letters across

Belgium, the Netherlands and Luxembourg, reported an operating

loss before interest and taxes of 9 million euros ($9.68

million), down from a profit of 7 million euros in the year-ago

period.

Seven analysts in a company-compiled poll had forecast a

loss of 2 million euros in the reported quarter.

Still, PostNL sees full-year normalised EBIT between 80

million and 110 million euros and free cash flow between 0

million and 40 million euros.

"We are making steady progress on the strategic actions

that we announced in February and keep on adjusting our

operations and offerings to adapt to changing market

circumstances," CEO Herna Verhagen said in a statement.

PostNL's main source of income from parcel deliveries

services dipped 1% during the quarter to 555 million euros, also

missing analyst consensus of 594 million euros.

($1 = 0.9293 euros)

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