Comparative 2015 numbers have been represented and exclude the results from the United Kingdom

1. Revenue at €864 million (Q1 2015: €850 million).
2. Underlying cash operating income at €61 million (Q1 2015: €68 million).
3. Net cash from operating and investing activities at €(26) million (Q1 2015: €25 million).
4. Consolidated equity position at €(194) million (YE 2015: €(223) million).

Operational highlights Q1 2016

1. Addressed mail volume declined by 6.1% (adjusted for working days: 8.2%).
2. Delivery quality remained high at 96.5%.
3. €15 million of cost savings realised.
4. Parcels volumes increased by 16% (adjusted for working days: 12%).

Strategic review of International completed

1. German business continues to be part of PostNL.
2. Decision on Germany has no impact on outlook 2016; 2020 ambition for underlying cash operating income adjusted to between €285 million and €355 million.

Outlook 2016 reconfirmed

1. Remain on track to meet previously communicated full year underlying cash operating income of between €220 million and €260 million.

CEO statement
Herna Verhagen, CEO of PostNL: “We are pleased that our performance during the first quarter was in line with expectations. The performance in Parcels was solid and reflects the continuing strong volume growth in e commerce. The impact from the product/customer mix that we have experienced was less negative than in previous quarters. The results were further supported by the additional working days this quarter.

In our segment Mail in the Netherlands we clearly see signs that our market approach is yielding positive results. Our adjusted mail volume decline was 8.2% which is better than the overall market development. Our restructuring plans are well on track and are progressing according to plan. We realised further cost savings, partly mitigating the related cash outs and the volume/price/mix effect. As expected, this effect includes the first impact from the measures on tariffs and conditions that were announced by the ACM in 2015.

And finally, the result in International was in line with last year as we anticipated. We have completed the strategic review of our International activities and the German business continues to be part of PostNL.

We are confident that we will be able to deliver our 2016 outlook of achieving an underlying cash operating income of between €220 million and €260 million.”

Source: PostNL