1. Revenue increased to €684 million (Q1 2018: €674 million)
2. Underlying cash operating income at €31 million (Q1 2018: €32 million)
3. Profit from continuing operations at €15 million (Q1 2018: €23 million)

Operational highlights

• 16% volume growth in Parcels
• Addressed mail volume declined by 9.8%; adjusted volume decline 9.1% (corrected for one working day)
• Delivery quality remained stable at 95%
• €12 million cost savings realised, continuing run-rate of Q4 2018
• Final collective labour agreements reached
• Outlook 2019 confirmed
• Expected underlying cash operating income 2019: €170 million - €200 million

CEO statement

Herna Verhagen, CEO of PostNL: “This year, we continue to build on a strong platform for further growth. Step by step we are realising our strategy of becoming the postal and e-commerce logistics company of choice for customers.
In Q1 2019, 51% of our revenue came from activities related to e-commerce, evidencing our transition. Underlying cash operating income was broadly in line with last year. We will stay focussed on improving the operational leverage in Parcels and continue to have attention for the realisation of our cost savings plans in Mail in the Netherlands. We confirm our outlook for 2019.

Today, we host our Capital Markets Day ‘Focus on our potential’. We will explain how we will further improve the balance between continuing volume growth, profitability and cash flow in Parcels.”

Source: PostNL