PostNL posts €20m losses as inflation stamps out online orders

Photo: PostNL
Photo: PostNL

Delivery service PostNL made losses of €20 mln in the third quarter of 2022 as inflation and declining online orders hit its operations.

The company said rising prices had led to fewer orders, with the total volume of postal deliveries falling by more than 9% in the autumn. The biggest decline was in packages sent abroad, while domestic post grew by 1%.

The number of unsold goods in storage warehouses has increased since the turn of the year, as people opt not to buy products ranging from games consoles and computers to clothing. The end of pandemic restrictions has also dampened online sales as shoppers returned to the high street.

The company made a net loss of €3 mln in the third quarter, on a slightly reduced turnover of €709 mln. Its forecast profits for the year have also been revised downwards from a range of between €145 mln to €175 mln.

PostNL issued its third profits warning of the year last month, but said it expected to recover some of the losses during the fourth quarter, which includes the Christmas season.

‘As ever we are preparing for a busy season, with parcel volumes that we expect to be more or less comparable to last year,’ said CEO Herna Verhagen.

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