PostNL - strong performance in 2021

[TrueBlueTerrier]

https://apex-insight.com/postnl-strong- ... e-in-2021/

Operating profit and revenues were up significantly in financial year ending 2021 for PostNL in its latest financial statement. On revenues of €3.466 billion, the postal operator saw operating profit grow to €308m.

Parcel volumes grew by 13.8% in 2021 as against 2020, while mail volumes dropped by just 0.3%. Additionally, the impact of EU VAT regulations on parcels from outside the bloc seems to be falling, with the impact said to be €11 million in 2021, as against €17 million the year before.

Herna Verhagen, CEO of PostNL, said: “2021 again qualifies as an exceptional year, impacted by the pandemic. Since the start of the pandemic, we have been recognising and rewarding the efforts and hard work of our people, partners and retailers, who we supported with extra fees during the lock-down period. Thanks to them and the resilience of our business, we showed strong results driven by a solid business performance at Parcels and a strong result at Mail in the Netherlands.

“Our cash flow performance was very strong and exceeded expectations, further strengthening our financial position. I’m pleased that we can propose a dividend of €0.42 per share to our shareholders. In line with our capital allocation framework we have announced a share buyback programme, starting from 1 March 2022.

“We are satisfied with our strong operational performance in Q4 2021, thanks to the well-managed execution of our peak season. Our businesses were flexible and proved strong enough to handle and respond to the exceptional circumstances.

“The current situation in Ukraine is concerning and brings uncertainty for people and the economic environment. We continue the execution of our strategy and further build on our solid financial foundation. This gives us confidence when viewing our longer term business performance and cash generation prospects. We will continue to meet our responsibility by creating long-term value for all our stakeholders and by delivering special moments.”