PostNL reports modest growth in first quarter despite decline in mail volumes
PostNL has reported steady performance for the first quarter of 2025, with growth in its parcel segment offsetting ongoing declines in mail volumes. The company acknowledged broader economic uncertainty, noting the impact of recent tariff increases on global markets.
For the first quarter of 2025, PostNL's revenue rose to seven hundred eighty-two million euros, up from seven hundred sixty-five million euros during the same period last year. The growth was driven primarily by the company’s parcel business, which saw a two percent increase in volume. However, mail volumes continued their downward trajectory, dropping by six point nine percent due to the ongoing shift away from traditional mail services.
PostNL CEO Pim Berendsen emphasized that the company’s performance in the first quarter aligned with expectations. "The first quarter of the year developed as anticipated," Berendsen said. "We are fully focused on the strategic initiatives announced in February, and implementation is progressing as planned. The first positive signs from targeted yield measures are now visible."
At the same time, the company faced increased operational costs, particularly in labor. Organic costs rose by thirty-one million euros, primarily due to labor-related expenses. Despite these challenges, Berendsen highlighted the company's efforts to improve efficiency, achieving cost savings in both the parcel and mail segments.
The decline in mail volumes had a significant impact on results, with the mail business reporting a ten million euro decrease in its performance compared to the first quarter of 2024. In response, PostNL has begun transitioning business mail to a standard delivery framework of D+2. However, the company also noted that current postal regulations limit further adjustments to its business model. PostNL has called on the Dutch government to take action on the Postal Act to allow for more flexibility in mail delivery schedules, suggesting that measures like stamp price increases may be necessary in the future.
In the parcel segment, PostNL saw a two percent increase in volume, with its market share remaining relatively stable. The company noted that regular price increases and targeted yield measures helped improve the price/mix impact, although a shift in mix had an unfavorable effect. PostNL’s international operations, particularly through its European network at Spring, showed promising growth.
The company also highlighted growing consumer demand for Out-of-Home delivery options, such as parcel lockers, which have contributed to operational efficiencies. PostNL's efforts to discontinue Sunday deliveries have also resulted in cost savings.
Looking ahead, PostNL remains cautious about the broader economic environment, citing the recent increase in tariffs as a factor contributing to macroeconomic uncertainty and volatility. The company acknowledged that it is too early to determine the full impact of these developments on the e-commerce market, including potential shifts in Asian volumes or a slowdown in global economic growth.
Despite these uncertainties, PostNL has maintained its full-year 2025 outlook, expecting normalized earnings before interest and taxes (EBIT) to be in line with 2024 levels. "We will be agile in adjusting our plans if necessary," Berendsen said. "In our Capital Markets Update in September, we will provide further insight into adjustments to our strategy and medium-term financial guidance."
PostNL also emphasized its ongoing commitment to sustainability. In the first quarter of 2025, the company achieved thirty percent emission-free last-mile deliveries, up from twenty-six percent during the same period in 2024. PostNL is increasingly using cleaner fuels and electric vehicles, and continues to focus on innovative city logistics to reduce its environmental footprint.
