PostNL turnover drops as traditional mail continues to decline
Dutch postal firm PostNL booked turnover of just over €1bn in the third quarter of this year, down 1% on the year-earlier period.
Post delivery volumes were down 12% as digitalisation continues to have an impact. However, this was partly offset by an 8% rise in parcel deliveries, the company said in a statement.
PostNL’s net profit rose to €218m during the quarter, largely due to the increased value of the company’s 29% stake in TNT Express. Excluding TNT Express, net profit fell from €12m to €2m.
Stamp prices are going up in January and Monday deliveries are being phased out in an effort to further cut costs.
‘The reorganisation of mail in the Netherlands is gaining pace. Cost savings are being realised ahead of schedule and are compensating for the addressed mail volume decline,’ chief executive Herna Verhagen said.
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