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PostNL cuts 2024 forecasts, announces CEO exit
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PostNL cuts 2024 forecasts, announces CEO exit
Nov 4, 2024 11:33 AM

Nov 4 (Reuters) - PostNL on Monday lowered its

full-year targets and said CEO Herna Verhagen had decided to

step down after the Dutch postal operator's annual general

meeting on April 15, 2025.

Verhagen will be replaced by the current chief financial

officer, Pim Berendsen. PostNL said it aimed to announce a new,

female CFO and member of the management board before April.

PostNL, which delivers parcels and letters across Belgium,

the Netherlands and Luxembourg, now sees a normalised operating

profit of around 80 million euros ($87.2 million) this year, at

the bottom of its previous guidance range of 80-110 million.

It expects its free cash flow to be at break-even, while it

had previously forecast it between that and up to 40 million

euros higher. Its normalised comprehensive income is also

expected at the bottom of an earlier range at around 40 million.

PostNL reported a normalised operating loss of 19 million

euros for the third quarter in its Dutch mail business, missing

analysts' forecast for a loss of 12 million in a

company-compiled consensus.

($1 = 0.9175 euros)

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