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PostNL issues a profit warning. EBIT for 2023 is expected to come in at around €92 million. This is in line with initial expectations, but lower than the last published outlook. Especially the holiday season was disappointing.

Market conditions remained volatile in the fourth quarter. Although parcel volume increased, PostNL delivered fewer parcels. At the same time, PostNL had already incurred costs to operate at maximum capacity.

Volumes from international customers rose again, but domestic volumes lagged. Mail volumes, on the other hand, held up reasonably well. At both Parcels and Mail in the Netherlands, the mix shift was less favorable. High absenteeism remained a concern and put more pressure on costs than anticipated.

In the fourth quarter, PostNL posted revenue of 889 million euros, 6 million euros more than in the same period last year. Normalized EBIT came in at 77 million euros, up from 60 million euros in the same period in 2022.

Parcel volumes rose 0.9 percent, but declined at Mail by 1.9 percent in the Netherlands.

The company will publish its definite annual results at the end of February.

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