PostNL sells Italian subsidiary | Financial

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PostNL emphasized that the annual figures are further on course to take advantage of the recent acquisition of the rival postal company Sandd in the long term.

PostNL again faced a contraction in the amount of mail to be delivered last year. The company nevertheless managed to boost its turnover, thanks to growth in parcel delivery. Revenues increased to more than 2.8 billion euros, from just under 2.8 billion euros a year earlier. The profit went down. The underlying cash operating result fell slightly and the total profit from continuing operations decreased from € 127 million to € 72 million.

“Volume growth is declining again this year with many promises”

This is what DFT reporter Yteke de Jong thinks:

“PostNL lives in 2019 on the promise that it will improve in the future after the acquisition of Sandd, which largely dominated 2019. The investors do not receive a dividend, and the profit fell to just € 4 million as a result of the acquisition of the competing postal company. The figures show that the revenue from the postal company fell faster than the increase in revenue at the package division. There, too, volume growth has slowed, and this year is expected to be the result of the corona crisis. ”

@ytekedejong on Twitter

Nexive is the second player in the Italian postal market and has been on display for some time. PostNL transfers 80 percent of the activities to the German company Mutares. PostNL will acquire a 20 percent stake in a new entity that will now include Nexive. No sales sum has been brought out.





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https://www.telegraaf.nl/financieel/1112097441/post-nl-verkoopt-italiaanse-dochter

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