Q2 2024 PostNL NV Earnings Call Transcript
Key Points
- Parcel volumes increased by 6%, with significant growth from international customers.
- Strong improvement in cash flow compared to the previous year.
- Successful issuance of a sustainability-linked note.
- Positive outcome in the Belgian court case, freeing the company from allegations.
- Dividend payment of EUR0.03 per share.
- Mail volumes declined by 1.3%, with a significant shift from 24-hour to non-24-hour mail.
- Organic cost increases of EUR38 million in Q2, expected to reach EUR155 million for the full year.
- Normalized EBIT remained flat compared to the previous year despite a 3% revenue growth.
- Negative impact on margins due to an unfavorable product and customer mix.
- High sick leave rates and labor costs continue to pressure the mail business.
Good morning, ladies and gentlemen. Welcome to the PostNL Q2 2024 results call. (Operator Instructions)
Now I would like to hand over the conference call to Ms. Inge Laudy, Manager Investor Relations. Please go ahead, madam.
Thank you, operator, and thank you all for joining today in our analyst call. We have published our Q2 and half-year results early this good morning. And with me in the room are Herna Verhagen, our CEO; and Pim Berendsen, our CFO to present these results to you.
Herna, would you please start?
Thank you, Inge. And of course, I'll start with slide number 4, which is on the highlights of the second quarter. In our view, a good quarter as expected. Parcel volumes up with 6%, modestly domestic, but high growth when it comes to international customers. And of course, on most of these topics, we'll come back in the further slides.
Mail volumes were
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