PostNL NV (LTS:0P47)

€ 1.01375 -0.01275 (-1.24%) Market Cap: 499.32 Mil Enterprise Value: 992.32 Mil PE Ratio: 27.38 PB Ratio: 2.77 GF Score: 61/100

Q3 2024 PostNL NV Earnings Call Transcript

Nov 04, 2024 / 10:00AM GMT

Release Date Price: €1.06 (-3.97%)

Transcript

Key Points

Positve

Parcels segment reported positive and improved results despite challenging market conditions.
Volume growth in parcels was strong, with a 10.7% exit rate in September, continuing into October.
Carbon efficiency improved by 14%, aligning with the company's ESG goals.
A new collective labor agreement was reached, providing clarity on labor costs for 2025.
The company expects a significant step up in EBIT for Q4, driven by anticipated peak season performance.

Negative

Q3 results were negative, with a normalized EBIT of minus EUR18 million, primarily due to mail-related activities.
Mail in the Netherlands experienced a volume decline of 6.3%, with high organic cost increases.
The business model for mail is unsustainable, relying heavily on seasonal mail to cover losses.
Free cash flow was negative at minus EUR68 million for the quarter, worsening from the previous year.
The company faces intense competition in the parcels segment, impacting pricing and margins.

Operator

Good day. And thank you for standing by. Welcome to the PostNL Q3 2024 results conference call. (Operator Instructions) Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your speaker today, Inge Laudy, Manager, Investor Relations. Please go ahead.

Inge Laudy

PostNL NV - Manager - Investor Relations

Thank you, operator, and welcome to you all. We have published our Q3 '24 results earlier this morning. And as usually, we will explain the set of results to you in this analyst call. With me in the room are Herna Verhagen, our CEO; and Pim Berendsen, our CFO. Pim will present the results to you. And after that, we will open the floor for Q&A where Herna and Pim will answer your questions.

But first I want to hand over to Herna. Please go ahead.

Herna Verhagen

PostNL NV - Chairman of the Management Board, Chief Executive Officer

Good morning to you all, and I'm sure that you have seen the announcement this morning about my step down as CEO

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